Ocwen Financial Corp (NYSE:OCN) major shareholder Leon G. Cooperman sold 200,000 shares of the company’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $2.05, for a total value of $410,000.00. Following the transaction, the insider now directly owns 1,000,000 shares in the company, valued at approximately $2,050,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
NYSE:OCN traded down $0.06 during mid-day trading on Thursday, hitting $1.83. The company had a trading volume of 1,377,000 shares, compared to its average volume of 1,253,843. Ocwen Financial Corp has a fifty-two week low of $1.77 and a fifty-two week high of $4.84. The company has a debt-to-equity ratio of 11.76, a current ratio of 8.31 and a quick ratio of 8.31.
Ocwen Financial (NYSE:OCN) last released its earnings results on Tuesday, November 6th. The financial services provider reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.15). Ocwen Financial had a negative net margin of 10.97% and a negative return on equity of 13.76%. The company had revenue of $238.30 million during the quarter, compared to analyst estimates of $241.00 million. During the same period in the previous year, the company posted ($0.05) EPS. The company’s quarterly revenue was down 16.3% compared to the same quarter last year.
A number of large investors have recently added to or reduced their stakes in OCN. BlackRock Inc. lifted its stake in Ocwen Financial by 20.9% in the second quarter. BlackRock Inc. now owns 8,319,364 shares of the financial services provider’s stock valued at $32,946,000 after buying an additional 1,436,871 shares during the period. Man Group plc lifted its stake in Ocwen Financial by 180.8% in the third quarter. Man Group plc now owns 2,065,809 shares of the financial services provider’s stock valued at $8,139,000 after buying an additional 1,330,002 shares during the period. Renaissance Technologies LLC lifted its stake in Ocwen Financial by 37.7% in the second quarter. Renaissance Technologies LLC now owns 2,147,333 shares of the financial services provider’s stock valued at $8,503,000 after buying an additional 587,800 shares during the period. Prescott Group Capital Management L.L.C. acquired a new position in Ocwen Financial in the second quarter valued at about $1,414,000. Finally, Systematic Financial Management LP acquired a new position in Ocwen Financial in the second quarter valued at about $1,231,000. 57.80% of the stock is currently owned by hedge funds and other institutional investors.
Ocwen Financial Company Profile
Ocwen Financial Corporation, a financial services holding company, originates and services loans in the United States, the United States Virgin Islands, India, and Philippines. Its Servicing segment provides residential and commercial mortgage loan servicing, special servicing, and asset management services to owners of mortgage loans and foreclosed real estate.
Featured Article: How can investors find ex-dividend dates?
Receive News & Ratings for Ocwen Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ocwen Financial and related companies with MarketBeat.com's FREE daily email newsletter.