According to Zacks, “COWEN GROUP, INC., through its operating subsidiaries, provides investment banking, equity research, sales and trading, asset management and alternative asset management services to companies and institutional investor clients in the healthcare, technology, telecommunications, aerospace and defense, consumer and alternative energy sectors. Cowen’s asset management business includes teams based in the U.S. and the U.K. Cowen’s U.S. team focuses on a growth-oriented investment style centered on small and mid-sized companies based primarily in North America. Cowen’s U.K. team provides traditional asset management products, focusing on a global equity strategy. Cowen’s alternative asset management business consists of Cowen Healthcare Royalty Partners, which invests principally in commercial-stage biopharmaceutical products and companies, and Cowen Capital Partners, which manages a portfolio of middle market private equity investments for third party investors. “
NASDAQ:COWN opened at $34.04 on Monday. Cowen has a 1 year low of $14.91 and a 1 year high of $44.07. The stock has a market cap of $987.70 million, a price-to-earnings ratio of 3.69 and a beta of 1.45. The stock has a 50-day moving average price of $38.08 and a two-hundred day moving average price of $38.46.
In related news, COO John J. Holmes sold 1,434 shares of the company’s stock in a transaction dated Wednesday, July 28th. The stock was sold at an average price of $40.00, for a total transaction of $57,360.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Owen S. Littman sold 6,307 shares of the company’s stock in a transaction that occurred on Tuesday, July 13th. The shares were sold at an average price of $40.12, for a total value of $253,036.84. The disclosure for this sale can be found here. Insiders have sold 40,024 shares of company stock worth $1,606,305 in the last quarter. 4.20% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in shares of Cowen by 33.6% in the first quarter. BlackRock Inc. now owns 2,680,545 shares of the financial services provider’s stock valued at $94,222,000 after purchasing an additional 673,684 shares during the last quarter. Penserra Capital Management LLC acquired a new position in shares of Cowen in the first quarter valued at approximately $7,312,000. Allianz Asset Management GmbH grew its position in shares of Cowen by 235.3% in the second quarter. Allianz Asset Management GmbH now owns 234,599 shares of the financial services provider’s stock valued at $9,631,000 after purchasing an additional 164,625 shares during the last quarter. Kingstown Capital Management L.P. acquired a new position in shares of Cowen in the first quarter valued at approximately $5,273,000. Finally, Renaissance Technologies LLC grew its position in shares of Cowen by 187.4% in the second quarter. Renaissance Technologies LLC now owns 227,428 shares of the financial services provider’s stock valued at $9,336,000 after purchasing an additional 148,300 shares during the last quarter. Hedge funds and other institutional investors own 91.30% of the company’s stock.
Cowen, Inc engages in the provision of financial services. It operates through following the segments: Operating Company and Asset Company. The Operating Company segment consists of the Cowen Investment Management, the Investment Banking, the Markets, and the Research divisions. The Asset Company segment comprises of the firm’s private investments, private real estate investments, and other legacy investment strategies.
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