Ocwen Financial Co. (NYSE:OCN – Get Rating) was the target of a large growth in short interest during the month of April. As of April 30th, there was short interest totalling 378,200 shares, a growth of 39.9% from the April 15th total of 270,400 shares. Currently, 4.6% of the shares of the company are sold short. Based on an average trading volume of 71,200 shares, the days-to-cover ratio is currently 5.3 days.
A number of large investors have recently bought and sold shares of OCN. Royal Bank of Canada grew its position in Ocwen Financial by 52.9% in the 3rd quarter. Royal Bank of Canada now owns 887 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 307 shares during the last quarter. Citigroup Inc. grew its position in Ocwen Financial by 140.2% in the 3rd quarter. Citigroup Inc. now owns 932 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 544 shares during the last quarter. Dorsey Wright & Associates acquired a new stake in Ocwen Financial in the 4th quarter worth $54,000. Advisor Group Holdings Inc. grew its position in Ocwen Financial by 3,527.9% in the 4th quarter. Advisor Group Holdings Inc. now owns 1,560 shares of the financial services provider’s stock worth $63,000 after purchasing an additional 1,517 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY acquired a new stake in Ocwen Financial in the 1st quarter worth $78,000. Institutional investors and hedge funds own 59.89% of the company’s stock.
A number of research firms recently issued reports on OCN. BTIG Research started coverage on Ocwen Financial in a research report on Wednesday, April 20th. They set a “neutral” rating for the company. Zacks Investment Research lowered Ocwen Financial from a “hold” rating to a “strong sell” rating in a research report on Saturday, March 19th. StockNews.com began coverage on Ocwen Financial in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, B. Riley cut their target price on Ocwen Financial from $56.00 to $50.00 in a research report on Wednesday, March 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $42.67.
Shares of OCN traded up $0.74 during mid-day trading on Friday, hitting $22.54. 79,673 shares of the company’s stock were exchanged, compared to its average volume of 118,637. The firm has a fifty day moving average of $22.54 and a two-hundred day moving average of $31.03. Ocwen Financial has a twelve month low of $17.76 and a twelve month high of $41.92. The stock has a market cap of $208.50 million, a price-to-earnings ratio of 3.24 and a beta of 1.94. The company has a quick ratio of 17.58, a current ratio of 17.58 and a debt-to-equity ratio of 16.12.
Ocwen Financial (NYSE:OCN – Get Rating) last posted its earnings results on Friday, February 25th. The financial services provider reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.46 by ($2.66). Ocwen Financial had a net margin of 6.30% and a return on equity of 6.98%. The firm had revenue of $293.96 million during the quarter, compared to analyst estimates of $52.17 million. On average, equities analysts predict that Ocwen Financial will post 5.79 earnings per share for the current year.
Ocwen Financial Company Profile (Get Rating)
Ocwen Financial Corporation, a financial services company, originates and services mortgage loans in the United States, the United States Virgin Islands, India, and the Philippines. The company operates through Servicing and Originations segments. It provides commercial mortgage loan servicing, special servicing, and asset management services, as well as residential mortgage loan servicing, such as forward and reverse conventional, government-insured, and non-agency loans, including the reverse mortgage loans to owners of mortgage loans and foreclosed real estate.