Ocwen Financial Corp (NYSE:OCN) saw a significant increase in short interest in January. As of January 31st, there was short interest totalling 1,770,000 shares, an increase of 30.1% from the January 15th total of 1,360,000 shares. Currently, 1.7% of the shares of the company are sold short. Based on an average daily volume of 356,100 shares, the days-to-cover ratio is presently 5.0 days.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Millennium Management LLC purchased a new position in shares of Ocwen Financial in the third quarter valued at $400,000. State Street Corp grew its position in shares of Ocwen Financial by 8.8% in the third quarter. State Street Corp now owns 2,531,490 shares of the financial services provider’s stock valued at $4,759,000 after purchasing an additional 203,888 shares in the last quarter. BlackRock Inc. grew its position in shares of Ocwen Financial by 11.2% in the second quarter. BlackRock Inc. now owns 9,090,803 shares of the financial services provider’s stock valued at $18,818,000 after purchasing an additional 918,402 shares in the last quarter. Rhumbline Advisers grew its position in shares of Ocwen Financial by 10.3% in the third quarter. Rhumbline Advisers now owns 210,387 shares of the financial services provider’s stock valued at $396,000 after purchasing an additional 19,620 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in shares of Ocwen Financial by 23.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 53,500 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 10,000 shares in the last quarter. Institutional investors own 62.48% of the company’s stock.
Shares of NYSE OCN opened at $1.53 on Friday. The stock has a market cap of $211.67 million, a PE ratio of -1.14 and a beta of 1.48. Ocwen Financial has a fifty-two week low of $1.07 and a fifty-two week high of $2.45. The company has a debt-to-equity ratio of 20.97, a quick ratio of 10.04 and a current ratio of 10.04. The stock has a fifty day moving average of $1.38 and a 200-day moving average of $1.62.
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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