Cowen (NASDAQ:COWN) Stock Rating Lowered by BidaskClub

BidaskClub downgraded shares of Cowen (NASDAQ:COWN) from a hold rating to a sell rating in a report published on Thursday morning, BidAskClub reports.

Cowen stock opened at $16.06 on Thursday. The company has a 50 day moving average of $16.24. The stock has a market cap of $475.15 million, a P/E ratio of 7.27 and a beta of 1.48. Cowen has a 1 year low of $11.80 and a 1 year high of $17.99. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 0.14.

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



In other Cowen news, Director Brett H. Barth bought 20,000 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The shares were purchased at an average cost of $15.29 per share, with a total value of $305,800.00. Following the purchase, the director now directly owns 47,332 shares in the company, valued at $723,706.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.60% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Millennium Management LLC increased its position 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 valued at $15,029,000 after purchasing an additional 147,760 shares during the last quarter. Spark Investment Management LLC increased its position in shares of Cowen by 100.1% in the 1st quarter. Spark Investment Management LLC now owns 151,500 shares of the financial services provider’s stock valued at $2,195,000 after purchasing an additional 75,800 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in shares of Cowen in the 4th quarter valued at approximately $285,000. United Services Automobile Association increased its position in shares of Cowen by 19.0% in the 4th quarter. United Services Automobile Association now owns 17,222 shares of the financial services provider’s stock valued at $230,000 after purchasing an additional 2,750 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of Cowen by 2,210.6% in the 1st quarter. Acadian Asset Management LLC now owns 141,133 shares of the financial services provider’s stock valued at $2,044,000 after purchasing an additional 135,025 shares during the last quarter. 90.58% of the stock is currently owned by hedge funds and other institutional investors.

Cowen Company Profile

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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