Cowen (NASDAQ:COWN) Lowered to Hold at BidaskClub

BidaskClub lowered shares of Cowen (NASDAQ:COWN) from a buy rating to a hold rating in a research report report published on Thursday, BidAskClub reports.

Cowen stock traded down $0.38 during trading on Thursday, reaching $15.69. The company had a trading volume of 3,940 shares, compared to its average volume of 223,673. Cowen has a 52 week low of $11.80 and a 52 week high of $17.99. The business’s 50-day moving average is $16.31. The stock has a market capitalization of $471.96 million, a price-to-earnings ratio of 7.38 and a beta of 1.48. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.84 and a quick ratio of 0.84.

Cowen (NASDAQ:COWN) last announced its earnings results on Thursday, April 25th. The financial services provider reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.04. Cowen had a return on equity of 8.94% and a net margin of 3.91%. The company had revenue of $233.50 million for the quarter, compared to analysts’ expectations of $220.13 million. During the same period last year, the firm earned $0.79 EPS. Cowen’s revenue for the quarter was down 3.3% compared to the same quarter last year.

In related news, Director Brett H. Barth bought 20,000 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were bought at an average cost of $15.29 per share, with a total value of $305,800.00. Following the acquisition, the director now owns 47,332 shares in the company, valued at $723,706.28. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.60% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. Investors Research Corp purchased a new position in Cowen in the 1st quarter worth approximately $27,000. PRW Wealth Management LLC bought a new stake in shares of Cowen during the fourth quarter valued at approximately $35,000. Legal & General Group Plc lifted its holdings in shares of Cowen by 20.3% in the fourth quarter. Legal & General Group Plc now owns 5,143 shares of the financial services provider’s stock worth $69,000 after buying an additional 867 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Cowen by 192.8% in the first quarter. BNP Paribas Arbitrage SA now owns 5,765 shares of the financial services provider’s stock worth $84,000 after buying an additional 3,796 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of Cowen in the fourth quarter worth $81,000. Hedge funds and other institutional investors own 90.54% of the company’s 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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