Ocwen Financial Corp (NYSE:OCN) Director Kevin Stein bought 30,000 shares of the stock in a transaction dated Friday, August 16th. The shares were purchased at an average cost of $1.53 per share, for a total transaction of $45,900.00. Following the completion of the purchase, the director now owns 74,278 shares in the company, valued at $113,645.34. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
OCN stock opened at $1.80 on Thursday. The company’s 50-day simple moving average is $1.86 and its 200-day simple moving average is $1.86. The company has a debt-to-equity ratio of 18.07, a current ratio of 9.87 and a quick ratio of 9.87. Ocwen Financial Corp has a 52-week low of $1.20 and a 52-week high of $4.35.
Ocwen Financial (NYSE:OCN) last posted its earnings results on Tuesday, August 6th. The financial services provider reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.31). Ocwen Financial had a negative return on equity of 35.88% and a negative net margin of 15.76%. The firm had revenue of $274.34 million for the quarter, compared to analysts’ expectations of $288.00 million. During the same period in the previous year, the company earned ($0.22) earnings per share. The company’s revenue was up 8.2% compared to the same quarter last year.
A number of institutional investors have recently modified their holdings of OCN. Fortress Investment Group LLC purchased a new position in Ocwen Financial in the 2nd quarter valued at about $12,015,000. BlackRock Inc. lifted its stake in Ocwen Financial by 11.2% in the 2nd quarter. BlackRock Inc. now owns 9,090,803 shares of the financial services provider’s stock valued at $18,818,000 after buying an additional 918,402 shares in the last quarter. Cooperman Leon G lifted its stake in Ocwen Financial by 7.0% in the 2nd quarter. Cooperman Leon G now owns 9,725,057 shares of the financial services provider’s stock valued at $20,131,000 after buying an additional 634,387 shares in the last quarter. Marshall Wace LLP lifted its stake in Ocwen Financial by 128.5% in the 1st quarter. Marshall Wace LLP now owns 631,418 shares of the financial services provider’s stock valued at $1,149,000 after buying an additional 355,052 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Ocwen Financial by 13.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,911,856 shares of the financial services provider’s stock valued at $6,028,000 after buying an additional 346,640 shares in the last quarter. 57.96% 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.
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