Goldman Sachs Group Inc. Sells 5,254 Shares of Cowen Group, Inc. (COWN)
Goldman Sachs Group Inc. cut its position in shares of Cowen Group, Inc. (NASDAQ:COWN) by 25.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,643 shares of the financial services provider’s stock after selling 5,254 shares during the period. Goldman Sachs Group Inc. owned approximately 0.06% of Cowen Group worth $234,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. American International Group Inc. increased its stake in Cowen Group by 7.2% in the first quarter. American International Group Inc. now owns 15,740 shares of the financial services provider’s stock worth $235,000 after buying an additional 1,051 shares during the last quarter. Blair William & Co. IL increased its stake in Cowen Group by 6.9% in the first quarter. Blair William & Co. IL now owns 17,975 shares of the financial services provider’s stock worth $269,000 after buying an additional 1,166 shares during the last quarter. Croft Leominster Inc. acquired a new stake in Cowen Group during the first quarter worth approximately $374,000. California Public Employees Retirement System increased its stake in Cowen Group by 82.9% in the first quarter. California Public Employees Retirement System now owns 35,075 shares of the financial services provider’s stock worth $524,000 after buying an additional 15,900 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in Cowen Group by 91.7% in the first quarter. Parametric Portfolio Associates LLC now owns 82,095 shares of the financial services provider’s stock worth $1,227,000 after buying an additional 39,267 shares during the last quarter. Institutional investors own 81.60% of the company’s stock.
Cowen Group, Inc. (NASDAQ COWN) traded down 1.84% during mid-day trading on Tuesday, reaching $16.00. 69,045 shares of the company’s stock were exchanged. Cowen Group, Inc. has a 1-year low of $11.60 and a 1-year high of $16.95. The stock’s market capitalization is $494.11 million. The firm’s 50-day moving average is $16.22 and its 200 day moving average is $15.15.
Cowen Group (NASDAQ:COWN) last posted its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.12. Cowen Group had a net margin of 1.00% and a return on equity of 1.92%. The company had revenue of $171.90 million during the quarter, compared to analyst estimates of $169.54 million. During the same quarter last year, the firm posted ($0.11) EPS. The business’s revenue for the quarter was up 113.8% on a year-over-year basis. Analysts forecast that Cowen Group, Inc. will post $1.65 earnings per share for the current fiscal year.
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A number of analysts have commented on the stock. BidaskClub downgraded shares of Cowen Group from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Nomura increased their price objective on shares of Cowen Group from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 10th. Finally, Instinet reiterated a “neutral” rating and issued a $18.00 price objective (up previously from $17.00) on shares of Cowen Group in a report on Friday, August 11th.
In other news, major shareholder Peter A. Cohen sold 100,000 shares of the firm’s stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $0.31, for a total transaction of $31,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Peter A. Cohen sold 133,202 shares of the firm’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $0.37, for a total transaction of $49,284.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,049,914 shares of company stock valued at $300,237. Insiders own 6.20% of the company’s stock.
About Cowen Group
Cowen Inc, formerly Cowen Group, Inc, is a financial services company. The Company provides alternative investment management, investment banking, research, sales and trading, and prime brokerage services. It operates through two segments: alternative investment and broker-dealer. The alternative investment segment includes private equity structures, registered investment companies and listed investment vehicles.
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