Cowen (NASDAQ:COWN – Get Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
COWN has been the topic of a number of other research reports. TheStreet lowered shares of Cowen from a “b-” rating to a “c” rating in a research report on Friday, April 29th. Piper Sandler increased their target price on shares of Cowen from $55.00 to $58.00 in a research report on Monday, May 2nd. The Goldman Sachs Group reduced their price target on shares of Cowen from $29.00 to $25.00 and set a “sell” rating on the stock in a research report on Tuesday, April 12th. JMP Securities reduced their price target on shares of Cowen from $62.00 to $59.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 7th. Finally, Zacks Investment Research lowered shares of Cowen from a “buy” rating to a “strong sell” rating in a research report on Tuesday, April 12th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $46.50.
Shares of NASDAQ:COWN opened at $24.60 on Wednesday. The company’s 50 day moving average price is $24.95 and its two-hundred day moving average price is $30.98. Cowen has a 12-month low of $21.45 and a 12-month high of $44.07. The firm has a market cap of $676.35 million, a PE ratio of 4.51 and a beta of 1.45. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.19.
Cowen (NASDAQ:COWN – Get Rating) last announced its earnings results on Friday, April 29th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.74. Cowen had a net margin of 10.97% and a return on equity of 18.83%. During the same quarter last year, the firm posted $4.34 EPS. On average, research analysts expect that Cowen will post 5.53 EPS for the current year.
In other Cowen news, Director Brett H. Barth purchased 10,000 shares of the company’s stock in a transaction dated Wednesday, February 23rd. The stock was purchased at an average price of $28.78 per share, with a total value of $287,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lorence H. Kim purchased 30,000 shares of the company’s stock in a transaction dated Friday, February 25th. The shares were acquired at an average cost of $30.03 per share, with a total value of $900,900.00. The disclosure for this purchase can be found here. 4.20% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. raised its stake in shares of Cowen by 289.2% during the third quarter. First Horizon Advisors Inc. now owns 432 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 321 shares during the last quarter. Maverick Capital Ltd. bought a new position in Cowen during the fourth quarter worth $31,000. Retirement Group LLC bought a new position in Cowen during the first quarter worth $27,000. Point72 Hong Kong Ltd bought a new position in Cowen during the fourth quarter worth $37,000. Finally, First Quadrant LLC CA bought a new position in Cowen during the first quarter worth $35,000. 89.63% of the stock is owned by hedge funds and other institutional investors.
Cowen Company Profile (Get Rating)
Cowen Inc, together with its subsidiaries, provides investment banking, research, sales and trading, prime brokerage, global clearing, securities financing, commission management, and investment management services in the United States and internationally. It operates in two segments, Operating Company (Op Co) and Asset Company (Asset Co).