Wells Fargo & Company MN Cuts Stock Position in Cowen Inc (NASDAQ:COWN)

Wells Fargo & Company MN lessened its stake in shares of Cowen Inc (NASDAQ:COWN) by 65.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 48,677 shares of the financial services provider’s stock after selling 93,828 shares during the quarter. Wells Fargo & Company MN’s holdings in Cowen were worth $837,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its stake in shares of Cowen by 192.8% during the first quarter. BNP Paribas Arbitrage SA now owns 5,765 shares of the financial services provider’s stock worth $84,000 after purchasing an additional 3,796 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Cowen during the first quarter worth approximately $202,000. WINTON GROUP Ltd purchased a new stake in shares of Cowen during the second quarter worth approximately $211,000. First Hawaiian Bank raised its stake in shares of Cowen by 20.1% during the second quarter. First Hawaiian Bank now owns 20,330 shares of the financial services provider’s stock worth $349,000 after purchasing an additional 3,400 shares during the last quarter. Finally, Aperio Group LLC raised its stake in shares of Cowen by 85.2% during the second quarter. Aperio Group LLC now owns 33,272 shares of the financial services provider’s stock worth $572,000 after purchasing an additional 15,310 shares during the last quarter. Institutional investors and hedge funds own 96.04% of the company’s stock.

In related news, General Counsel Owen S. Littman sold 10,000 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $17.88, for a total transaction of $178,800.00. Following the transaction, the general counsel now owns 164,870 shares of the company’s stock, valued at $2,947,875.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 3.60% of the company’s stock.

A number of research analysts recently weighed in on COWN shares. BidaskClub lowered Cowen from a “hold” rating to a “sell” rating in a report on Tuesday, August 27th. Buckingham Research started coverage on Cowen in a report on Tuesday, July 23rd. They set a “buy” rating and a $20.00 price objective on the stock.

COWN stock traded down $0.57 on Thursday, reaching $13.82. 321,211 shares of the company’s stock were exchanged, compared to its average volume of 213,295. The stock has a fifty day moving average of $15.79 and a 200-day moving average of $16.05. Cowen Inc has a twelve month low of $11.80 and a twelve month high of $18.36. The firm has a market cap of $413.28 million, a PE ratio of 5.25 and a beta of 1.49. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.68.

Cowen (NASDAQ:COWN) last announced its quarterly earnings data on Friday, July 26th. The financial services provider reported $0.49 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.08. Cowen had a return on equity of 8.32% and a net margin of 3.72%. The firm had revenue of $244.40 million for the quarter, compared to analyst estimates of $230.19 million. During the same quarter in the prior year, the company posted $0.71 earnings per share. Cowen’s quarterly revenue was up 4.3% on a year-over-year basis. On average, equities research analysts predict that Cowen Inc will post 2.8 EPS for the current fiscal year.

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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Institutional Ownership by Quarter for Cowen (NASDAQ:COWN)

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