Quantedge Capital Pte Ltd lowered its position in Cowen Inc. (NASDAQ:COWN – Get Rating) by 46.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,200 shares of the financial services provider’s stock after selling 8,100 shares during the period. Quantedge Capital Pte Ltd’s holdings in Cowen were worth $332,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Denali Advisors LLC bought a new position in Cowen during the 4th quarter worth about $196,000. Regentatlantic Capital LLC bought a new position in Cowen during the 4th quarter worth about $202,000. Cambria Investment Management L.P. bought a new position in Cowen during the 4th quarter worth about $203,000. ProShare Advisors LLC bought a new position in Cowen during the 4th quarter worth about $208,000. Finally, Janus Henderson Group PLC bought a new position in Cowen during the 3rd quarter worth about $202,000. Institutional investors and hedge funds own 89.63% of the company’s stock.
A number of equities analysts have recently commented on the stock. The Goldman Sachs Group reduced their price objective on shares of Cowen from $29.00 to $25.00 and set a “sell” rating for the company in a research note on Tuesday, April 12th. TheStreet downgraded shares of Cowen from a “b-” rating to a “c” rating in a research note on Friday, April 29th. JMP Securities reduced their price objective on shares of Cowen from $62.00 to $59.00 and set a “market outperform” rating for the company in a research note on Thursday, April 7th. StockNews.com upgraded shares of Cowen from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Piper Sandler raised their target price on shares of Cowen from $55.00 to $58.00 in a research note on Monday, May 2nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $46.50.
Cowen (NASDAQ:COWN – Get Rating) last announced its earnings results on Friday, April 29th. The financial services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $0.61 by $0.74. Cowen had a net margin of 10.97% and a return on equity of 18.83%. The company had revenue of $331.64 million for the quarter, compared to analysts’ expectations of $298.27 million. During the same period last year, the firm earned $4.34 earnings per share. As a group, research analysts expect that Cowen Inc. will post 5.53 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Wednesday, June 1st will be paid a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, May 31st. This represents a $0.48 dividend on an annualized basis and a yield of 2.07%. Cowen’s dividend payout ratio (DPR) is 8.79%.
In related news, Director Lorence H. Kim bought 30,000 shares of the business’s stock in a transaction on Friday, February 25th. The shares were purchased at an average price of $30.03 per share, for a total transaction of $900,900.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Brett H. Barth bought 10,000 shares of the business’s stock in a transaction on Wednesday, February 23rd. The stock was bought at an average price of $28.78 per share, for a total transaction of $287,800.00. The disclosure for this purchase can be found here. Company insiders own 4.20% of the company’s stock.
Cowen Profile (Get Rating)
Cowen Inc, together with its subsidiaries, provides investment banking, research, sales and trading, prime brokerage, global clearing, securities financing, commission management, and investment management services in the United States and internationally. It operates in two segments, Operating Company (Op Co) and Asset Company (Asset Co).
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