Ocwen Financial Co. (NYSE:OCN) Short Interest Up 39.9% in April

Ocwen Financial Co. (NYSE:OCNGet Rating) was the recipient of a significant growth in short interest in April. As of April 30th, there was short interest totalling 378,200 shares, a growth of 39.9% from the April 15th total of 270,400 shares. Based on an average trading volume of 71,200 shares, the days-to-cover ratio is presently 5.3 days. Approximately 4.6% of the shares of the company are sold short.

A number of institutional investors have recently made changes to their positions in the business. Oaktree Capital Management LP grew its stake in Ocwen Financial by 26.8% during the fourth quarter. Oaktree Capital Management LP now owns 756,870 shares of the financial services provider’s stock worth $30,252,000 after buying an additional 160,000 shares in the last quarter. BlackRock Inc. grew its stake in Ocwen Financial by 4.0% during the fourth quarter. BlackRock Inc. now owns 577,922 shares of the financial services provider’s stock worth $23,100,000 after buying an additional 22,037 shares in the last quarter. Long Focus Capital Management LLC acquired a new stake in Ocwen Financial during the fourth quarter worth about $16,095,000. Dimensional Fund Advisors LP grew its stake in Ocwen Financial by 11.6% during the first quarter. Dimensional Fund Advisors LP now owns 206,281 shares of the financial services provider’s stock worth $4,901,000 after buying an additional 21,471 shares in the last quarter. Finally, TCW Group Inc. grew its stake in Ocwen Financial by 7.0% during the first quarter. TCW Group Inc. now owns 202,468 shares of the financial services provider’s stock worth $4,810,000 after buying an additional 13,249 shares in the last quarter. Hedge funds and other institutional investors own 59.89% of the company’s stock.

Shares of OCN stock traded up $0.74 on Friday, hitting $22.54. The company’s stock had a trading volume of 79,673 shares, compared to its average volume of 118,637. The company has a debt-to-equity ratio of 16.12, a quick ratio of 17.58 and a current ratio of 17.58. The stock’s 50 day moving average is $22.54 and its 200-day moving average is $31.03. Ocwen Financial has a fifty-two week low of $17.76 and a fifty-two week high of $41.92. The company has a market capitalization of $208.50 million, a PE ratio of 3.24 and a beta of 1.94.

Ocwen Financial (NYSE:OCNGet Rating) last released its quarterly earnings results on Friday, February 25th. The financial services provider reported ($0.20) EPS for the quarter, missing the consensus estimate of $2.46 by ($2.66). The business had revenue of $293.96 million during the quarter, compared to analyst estimates of $52.17 million. Ocwen Financial had a net margin of 6.30% and a return on equity of 6.98%. On average, research analysts forecast that Ocwen Financial will post 5.79 earnings per share for the current year.

OCN has been the topic of several research reports. Zacks Investment Research downgraded shares of Ocwen Financial from a “hold” rating to a “strong sell” rating in a report on Saturday, March 19th. StockNews.com initiated coverage on shares of Ocwen Financial in a report on Thursday, March 31st. They issued a “hold” rating on the stock. BTIG Research initiated coverage on shares of Ocwen Financial in a report on Wednesday, April 20th. They issued a “neutral” rating on the stock. Finally, B. Riley decreased their price objective on shares of Ocwen Financial from $56.00 to $50.00 in a report on Wednesday, March 16th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $42.67.

Ocwen Financial Company Profile (Get Rating)

Ocwen Financial Corporation, a financial services company, originates and services mortgage loans in the United States, the United States Virgin Islands, India, and the Philippines. The company operates through Servicing and Originations segments. It provides commercial mortgage loan servicing, special servicing, and asset management services, as well as residential mortgage loan servicing, such as forward and reverse conventional, government-insured, and non-agency loans, including the reverse mortgage loans to owners of mortgage loans and foreclosed real estate.

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