Cowen (NASDAQ:COWN) Rating Lowered to Hold at BidaskClub

BidaskClub cut shares of Cowen (NASDAQ:COWN) from a buy rating to a hold rating in a research report sent to investors on Thursday, BidAskClub reports.

NASDAQ COWN opened at $15.65 on Thursday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.84 and a quick ratio of 0.84. The stock’s 50 day simple moving average is $16.30. Cowen has a 12-month low of $11.80 and a 12-month high of $17.99. The firm has a market cap of $463.02 million, a PE ratio of 7.08 and a beta of 1.48.

Cowen (NASDAQ:COWN) last released its earnings results on Thursday, April 25th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.04. Cowen had a return on equity of 8.94% and a net margin of 3.91%. The company had revenue of $233.50 million for the quarter, compared to analysts’ expectations of $220.13 million. During the same quarter in the previous year, the firm posted $0.79 EPS. The firm’s quarterly revenue was down 3.3% on a year-over-year basis.



In other Cowen news, Director Brett H. Barth bought 20,000 shares of the company’s stock in a transaction on Friday, May 31st. The shares were bought at an average price of $15.29 per share, for a total transaction of $305,800.00. Following the transaction, the director now owns 47,332 shares of the company’s stock, valued at approximately $723,706.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.60% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC grew its holdings in shares of Cowen by 15.1% in the 4th quarter. Millennium Management LLC now owns 1,126,626 shares of the financial services provider’s stock worth $15,029,000 after acquiring an additional 147,760 shares during the period. Salzhauer Michael grew its holdings in shares of Cowen by 7.4% in the 1st quarter. Salzhauer Michael now owns 560,410 shares of the financial services provider’s stock worth $8,120,000 after acquiring an additional 38,800 shares during the period. Monarch Partners Asset Management LLC grew its holdings in shares of Cowen by 6.3% in the 1st quarter. Monarch Partners Asset Management LLC now owns 469,388 shares of the financial services provider’s stock worth $6,801,000 after acquiring an additional 27,940 shares during the period. D. E. Shaw & Co. Inc. grew its holdings in shares of Cowen by 1.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 376,670 shares of the financial services provider’s stock worth $5,024,000 after acquiring an additional 5,459 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Cowen by 10.4% in the 4th quarter. Geode Capital Management LLC now owns 332,469 shares of the financial services provider’s stock worth $4,434,000 after acquiring an additional 31,296 shares during the period. Institutional investors and hedge funds own 90.54% of the company’s stock.

About Cowen

Cowen Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides alternative investment management, investment banking, research, and sales and trading services for its clients. It manages separate client focused portfolio through its subsidiaries. Through its subsidiaries, the firm invests in equity and fixed income markets.

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