According to Zacks, “COWEN GROUP, INC., through its operating subsidiaries, provides investment banking, equity research, sales and trading, asset management and alternative asset management services to companies and institutional investor clients in the healthcare, technology, telecommunications, aerospace and defense, consumer and alternative energy sectors. Cowen’s asset management business includes teams based in the U.S. and the U.K. Cowen’s U.S. team focuses on a growth-oriented investment style centered on small and mid-sized companies based primarily in North America. Cowen’s U.K. team provides traditional asset management products, focusing on a global equity strategy. Cowen’s alternative asset management business consists of Cowen Healthcare Royalty Partners, which invests principally in commercial-stage biopharmaceutical products and companies, and Cowen Capital Partners, which manages a portfolio of middle market private equity investments for third party investors. “
A number of other equities research analysts also recently weighed in on COWN. Buckingham Research initiated coverage on shares of Cowen in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $20.00 target price on the stock. BidaskClub raised shares of Cowen from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 26th.
COWN traded up $0.34 on Tuesday, reaching $15.34. The company had a trading volume of 176,800 shares, compared to its average volume of 272,784. The business has a 50 day simple moving average of $14.66 and a 200 day simple moving average of $15.84. The company has a market cap of $438.32 million, a price-to-earnings ratio of 5.83 and a beta of 1.47. The company has a debt-to-equity ratio of 1.62, a quick ratio of 1.26 and a current ratio of 1.26. Cowen has a 52-week low of $11.80 and a 52-week high of $18.36.
Cowen (NASDAQ:COWN) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. The business had revenue of $252.00 million for the quarter, compared to the consensus estimate of $212.72 million. Cowen had a net margin of 2.52% and a return on equity of 6.84%. Cowen’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period last year, the firm posted $0.74 earnings per share. As a group, equities research analysts predict that Cowen will post 2.67 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in COWN. WINTON GROUP Ltd purchased a new stake in Cowen in the second quarter valued at approximately $211,000. First Hawaiian Bank raised its stake in shares of Cowen by 20.1% during the second quarter. First Hawaiian Bank now owns 20,330 shares of the financial services provider’s stock worth $349,000 after acquiring an additional 3,400 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Cowen by 62.5% during the second quarter. Fisher Asset Management LLC now owns 215,367 shares of the financial services provider’s stock worth $3,702,000 after acquiring an additional 82,862 shares in the last quarter. Aperio Group LLC raised its stake in shares of Cowen by 85.2% during the second quarter. Aperio Group LLC now owns 33,272 shares of the financial services provider’s stock worth $572,000 after acquiring an additional 15,310 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Cowen by 22.6% during the second quarter. Swiss National Bank now owns 50,525 shares of the financial services provider’s stock worth $869,000 after acquiring an additional 9,300 shares in the last quarter. 97.41% of the stock is currently owned by institutional investors and hedge funds.
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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