Ocwen Financial Corp (NYSE:OCN) Director Jenne K. Britell Purchases 31,600 Shares

Ocwen Financial Corp (NYSE:OCN) Director Jenne K. Britell acquired 31,600 shares of the stock in a transaction dated Monday, August 19th. The stock was bought at an average cost of $1.59 per share, with a total value of $50,244.00. Following the completion of the purchase, the director now directly owns 74,278 shares in the company, valued at $118,102.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

NYSE OCN traded up $0.05 on Tuesday, reaching $1.63. 216,115 shares of the stock traded hands, compared to its average volume of 558,759. The company has a current ratio of 9.87, a quick ratio of 9.87 and a debt-to-equity ratio of 18.07. The company has a fifty day moving average price of $1.88 and a 200-day moving average price of $1.86. Ocwen Financial Corp has a 12 month low of $1.20 and a 12 month high of $4.35.

Ocwen Financial (NYSE:OCN) last issued its earnings results on Tuesday, August 6th. The financial services provider reported ($0.67) earnings per share for the quarter, missing the Zacks’ consensus estimate 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 for the quarter, compared to the consensus estimate of $288.00 million. During the same period last year, the firm earned ($0.22) earnings per share. The company’s revenue for the quarter was up 8.2% on a year-over-year basis.

Several large investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC increased its holdings in shares of Ocwen Financial by 14.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 53,500 shares of the financial services provider’s stock valued at $97,000 after acquiring an additional 6,954 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Ocwen Financial by 32.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 37,958 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 9,285 shares during the period. Bank of Montreal Can increased its holdings in shares of Ocwen Financial by 19.4% in the 2nd quarter. Bank of Montreal Can now owns 61,387 shares of the financial services provider’s stock valued at $128,000 after acquiring an additional 9,971 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Ocwen Financial by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,312,717 shares of the financial services provider’s stock valued at $4,439,000 after acquiring an additional 12,477 shares during the period. Finally, BNP Paribas Arbitrage SA grew its stake in Ocwen Financial by 89.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 30,143 shares of the financial services provider’s stock worth $55,000 after buying an additional 14,232 shares during the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

Separately, ValuEngine raised Ocwen Financial from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st.

About Ocwen Financial

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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