Cowen (NASDAQ:COWN) Downgraded to C at TheStreet

Cowen (NASDAQ:COWNGet Rating) was downgraded by analysts at TheStreet from a “b-” rating to a “c” rating in a report issued on Friday, TheStreetRatingsTable reports.

A number of other analysts have also commented on the company. JMP Securities dropped their price target on Cowen from $62.00 to $59.00 and set a “market outperform” rating on the stock in a report on Thursday, April 7th. Piper Sandler lifted their target price on Cowen from $55.00 to $58.00 in a research note on Monday. The Goldman Sachs Group reduced their price target on shares of Cowen from $29.00 to $25.00 and set a “sell” rating for the company in a research report on Tuesday, April 12th. Zacks Investment Research downgraded shares of Cowen from a “buy” rating to a “strong sell” rating in a report on Tuesday, April 12th. Finally, StockNews.com initiated coverage on shares of Cowen in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $46.50.

COWN opened at $24.69 on Friday. Cowen has a fifty-two week low of $21.45 and a fifty-two week high of $44.07. The firm has a market capitalization of $677.99 million, a P/E ratio of 4.52 and a beta of 1.45. The company’s 50-day moving average is $25.90 and its 200 day moving average is $31.91. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.71 and a quick ratio of 0.71.

Cowen (NASDAQ:COWNGet Rating) last posted its quarterly earnings data on Friday, April 29th. The financial services provider reported $1.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.74. Cowen had a net margin of 10.97% and a return on equity of 18.77%. During the same period last year, the business posted $4.34 earnings per share. On average, equities research analysts expect that Cowen will post 4.76 earnings per share for the current year.

In other Cowen news, Director Brett H. Barth acquired 10,000 shares of Cowen stock in a transaction that occurred on Wednesday, February 23rd. The stock was acquired at an average cost of $28.78 per share, for a total transaction of $287,800.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lorence H. Kim bought 30,000 shares of the stock in a transaction on Friday, February 25th. The shares were acquired at an average cost of $30.03 per share, for a total transaction of $900,900.00. The disclosure for this purchase can be found here. Company insiders own 4.20% of the company’s stock.

Several large investors have recently added to or reduced their stakes in COWN. Morgan Stanley increased its stake in shares of Cowen by 16.3% in the second quarter. Morgan Stanley now owns 200,982 shares of the financial services provider’s stock worth $8,250,000 after buying an additional 28,190 shares during the period. SG Americas Securities LLC grew its holdings in Cowen by 6.0% in the 3rd quarter. SG Americas Securities LLC now owns 12,159 shares of the financial services provider’s stock worth $417,000 after acquiring an additional 684 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Cowen by 3.7% in the third quarter. Victory Capital Management Inc. now owns 75,024 shares of the financial services provider’s stock valued at $2,575,000 after acquiring an additional 2,692 shares during the period. Advisor Group Holdings Inc. boosted its holdings in shares of Cowen by 34.5% during the third quarter. Advisor Group Holdings Inc. now owns 9,871 shares of the financial services provider’s stock worth $339,000 after purchasing an additional 2,532 shares during the period. Finally, Mackenzie Financial Corp grew its stake in shares of Cowen by 23.5% in the third quarter. Mackenzie Financial Corp now owns 7,721 shares of the financial services provider’s stock worth $265,000 after purchasing an additional 1,469 shares during the last quarter. 89.63% of the stock is owned by hedge funds and other institutional investors.

About Cowen (Get Rating)

Cowen Inc, together with its subsidiaries, provides investment banking, research, sales and trading, prime brokerage, global clearing, securities financing, commission management, and investment management services in the United States and internationally. It operates in two segments, Operating Company (Op Co) and Asset Company (Asset Co).

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