Cowen Inc (NASDAQ:COWN) Shares Acquired by BlackRock Inc.

BlackRock Inc. lifted its position in shares of Cowen Inc (NASDAQ:COWN) by 1.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,235,738 shares of the financial services provider’s stock after purchasing an additional 39,611 shares during the period. BlackRock Inc. owned about 7.57% of Cowen worth $38,433,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Greenwich Wealth Management LLC acquired a new position in shares of Cowen during the second quarter worth $425,000. APG Asset Management N.V. raised its holdings in Cowen by 227.4% in the second quarter. APG Asset Management N.V. now owns 348,000 shares of the financial services provider’s stock valued at $5,253,000 after acquiring an additional 241,700 shares in the last quarter. Northern Trust Corp raised its holdings in Cowen by 2.0% in the second quarter. Northern Trust Corp now owns 331,386 shares of the financial services provider’s stock valued at $5,696,000 after acquiring an additional 6,373 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Cowen in the second quarter valued at $222,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Cowen by 2.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 162,866 shares of the financial services provider’s stock valued at $2,800,000 after acquiring an additional 3,484 shares in the last quarter. 96.04% of the stock is currently owned by institutional investors and hedge funds.

COWN opened at $14.26 on Friday. The stock has a market capitalization of $408.36 million, a PE ratio of 5.42 and a beta of 1.49. The firm’s fifty day moving average price is $15.40 and its 200 day moving average price is $16.02. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.89 and a quick ratio of 0.89. Cowen Inc has a 12-month low of $11.80 and a 12-month high of $18.36.



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

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 shares were sold at an average price of $17.88, for a total value of $178,800.00. Following the sale, the general counsel now directly owns 164,870 shares of the company’s stock, valued at $2,947,875.60. The transaction 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.

Several analysts recently issued reports on the stock. BidaskClub cut shares of Cowen from a “sell” rating to a “strong sell” rating in a report on Friday, October 4th. Buckingham Research assumed coverage on shares of Cowen in a report on Tuesday, July 23rd. They issued a “buy” rating and a $20.00 price target on the stock.

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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