Cowen Inc (COWN) Director Sells $14,200.00 in Stock

Cowen Inc (NASDAQ:COWN) Director Peter A. Cohen sold 1,000 shares of the business’s stock in a transaction on Thursday, April 5th. The stock was sold at an average price of $14.20, for a total value of $14,200.00. Following the completion of the transaction, the director now directly owns 888,877 shares of the company’s stock, valued at $12,622,053.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

NASDAQ COWN opened at $14.45 on Thursday. Cowen Inc has a fifty-two week low of $11.63 and a fifty-two week high of $18.25. The firm has a market capitalization of $427.13, a PE ratio of 26.85 and a beta of 1.27. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.80.

Cowen (NASDAQ:COWN) last released its quarterly earnings results on Thursday, February 15th. The financial services provider reported ($0.30) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.69). Cowen had a positive return on equity of 1.99% and a negative net margin of 9.24%. The company had revenue of $204.50 million during the quarter, compared to analyst estimates of $178.98 million. During the same period last year, the firm earned ($0.48) earnings per share. The business’s revenue was up 67.2% compared to the same quarter last year.

Cowen declared that its board has approved a stock buyback plan on Thursday, February 15th that allows the company to repurchase $23.60 million in shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

A number of research firms have recently weighed in on COWN. BidaskClub raised Cowen from a “strong sell” rating to a “sell” rating in a report on Friday, December 22nd. Nomura raised Cowen from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $13.00 to $16.00 in a report on Friday, February 16th.

A number of institutional investors have recently added to or reduced their stakes in COWN. Ariel Investments LLC increased its stake in Cowen by 32.9% in the fourth quarter. Ariel Investments LLC now owns 2,129,096 shares of the financial services provider’s stock valued at $29,062,000 after purchasing an additional 526,822 shares during the last quarter. Philadelphia Financial Management of San Francisco LLC acquired a new position in Cowen in the fourth quarter valued at $5,470,000. Garnet Equity Capital Holdings Inc. acquired a new position in Cowen in the fourth quarter valued at $4,095,000. Gator Capital Management LLC acquired a new position in Cowen in the fourth quarter valued at $2,715,000. Finally, Cowen Inc. acquired a new position in Cowen in the fourth quarter valued at $2,036,000. Hedge funds and other institutional investors own 85.84% of the company’s stock.

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Cowen Company Profile

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.

Insider Buying and Selling by Quarter for Cowen (NASDAQ:COWN)

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