Ocwen Financial Corp (NYSE:OCN) CEO Buys $56,800.00 in Stock

Ocwen Financial Corp (NYSE:OCN) CEO Glen A. Messina bought 40,000 shares of the stock in a transaction dated Friday, August 9th. The stock was purchased at an average price of $1.42 per share, with a total value of $56,800.00. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

NYSE:OCN traded up $0.03 on Tuesday, reaching $1.51. 183,629 shares of the company’s stock were exchanged, compared to its average volume of 558,627. The company has a fifty day moving average of $1.94. The company has a quick ratio of 9.87, a current ratio of 9.87 and a debt-to-equity ratio of 18.07. Ocwen Financial Corp has a 52 week low of $1.20 and a 52 week high of $4.35.

Ocwen Financial (NYSE:OCN) last released its quarterly earnings data on Tuesday, August 6th. The financial services provider reported ($0.67) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.31). Ocwen Financial had a negative net margin of 15.76% and a negative return on equity of 35.88%. The firm had revenue of $274.34 million during the quarter, compared to the consensus estimate of $288.00 million. During the same quarter last year, the business posted ($0.22) earnings per share. Ocwen Financial’s revenue was up 8.2% compared to the same quarter last year.

Separately, ValuEngine upgraded shares of Ocwen Financial from a “hold” rating to a “buy” rating in a report on Thursday, August 1st.

Hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio boosted its position in shares of Ocwen Financial by 26.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 28,872 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 6,099 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Ocwen Financial by 89.4% during the first quarter. BNP Paribas Arbitrage SA now owns 30,143 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 14,232 shares in the last quarter. Sigma Planning Corp purchased a new position in shares of Ocwen Financial in the first quarter worth $65,000. JPMorgan Chase & Co. increased its stake in shares of Ocwen Financial by 32.4% in the second quarter. JPMorgan Chase & Co. now owns 37,958 shares of the financial services provider’s stock worth $74,000 after buying an additional 9,285 shares during the period. Finally, Metropolitan Life Insurance Co NY purchased a new position in shares of Ocwen Financial in the first quarter worth $78,000. Institutional investors own 57.24% of the company’s stock.

Ocwen Financial Company Profile

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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Insider Buying and Selling by Quarter for Ocwen Financial (NYSE:OCN)

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