Fishman Jay A Ltd. MI held its position in shares of Ocwen Financial Corp (NYSE:OCN) during the first quarter, according to its most recent disclosure with the SEC. The fund owned 20,000 shares of the financial services provider’s stock at the end of the first quarter. Fishman Jay A Ltd. MI’s holdings in Ocwen Financial Corp were worth $109,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp raised its position in shares of Ocwen Financial Corp by 5.3% in the fourth quarter. State Street Corp now owns 1,836,727 shares of the financial services provider’s stock worth $9,901,000 after buying an additional 91,782 shares during the last quarter. Bogle Investment Management L P DE purchased a new position in shares of Ocwen Financial Corp during the fourth quarter worth $9,062,000. Norges Bank purchased a new position in shares of Ocwen Financial Corp during the fourth quarter worth $6,555,000. FMR LLC purchased a new position in shares of Ocwen Financial Corp during the fourth quarter worth $5,764,000. Finally, Parametric Portfolio Associates LLC raised its position in shares of Ocwen Financial Corp by 36.5% in the first quarter. Parametric Portfolio Associates LLC now owns 726,593 shares of the financial services provider’s stock worth $3,974,000 after buying an additional 194,449 shares during the last quarter. Hedge funds and other institutional investors own 53.65% of the company’s stock.
Shares of Ocwen Financial Corp (NYSE:OCN) traded up 2.38% on Friday, hitting $2.58. 1,359,021 shares of the company were exchanged. Ocwen Financial Corp has a 52-week low of $1.29 and a 52-week high of $6.15. The firm’s 50-day moving average is $3.61 and its 200-day moving average is $4.72. The stock’s market capitalization is $321.42 million.
Ocwen Financial Corp (NYSE:OCN) last released its earnings results on Wednesday, May 3rd. The financial services provider reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by $0.04. The company had revenue of $321.90 million for the quarter, compared to analysts’ expectations of $302.90 million. Ocwen Financial Corp had a negative return on equity of 25.54% and a negative net margin of 29.01%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.90) EPS. Equities research analysts predict that Ocwen Financial Corp will post ($1.11) earnings per share for the current year.
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A number of research analysts have recently weighed in on OCN shares. Oppenheimer Holdings Inc. restated a “hold” rating on shares of Ocwen Financial Corp in a research report on Saturday, April 22nd. Piper Jaffray Companies upgraded Ocwen Financial Corp from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $2.00 to $3.50 in a research report on Monday, May 1st. Keefe, Bruyette & Woods restated a “hold” rating and set a $5.00 price objective on shares of Ocwen Financial Corp in a research report on Monday, April 10th. Compass Point lowered Ocwen Financial Corp from a “buy” rating to a “neutral” rating in a research report on Tuesday, May 2nd. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded Ocwen Financial Corp from a “hold” rating to a “buy” rating and set a $3.00 price objective for the company in a research report on Thursday, May 11th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $3.75.
In other Ocwen Financial Corp news, major shareholder John Devaney acquired 3,040,209 shares of the company’s stock in a transaction that occurred on Thursday, April 20th. The stock was bought at an average price of $2.70 per share, with a total value of $8,208,564.30. The transaction was disclosed in a filing with the SEC, which is available at this link. 5.17% of the stock is currently owned by corporate insiders.
About Ocwen Financial Corp
Ocwen Financial Corporation is a financial services holding company. The Company, through its subsidiaries, originates and services loans. The Company’s segments include Servicing, Lending, and Corporate Items and Other. The Company’s Servicing segment consists of its residential servicing business. The Company’s Lending segment is focused on originating and purchasing conventional and government-insured residential forward and reverse mortgage loans.
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