Cowen (NASDAQ:COWN) Trading Up 6.2%

Cowen Inc. (NASDAQ:COWNGet Rating)’s share price was up 6.2% on Friday . The stock traded as high as $35.45 and last traded at $35.45. Approximately 11,907 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 1,296,847 shares. The stock had previously closed at $33.37.

Analyst Upgrades and Downgrades

COWN has been the topic of a number of research analyst reports. TheStreet downgraded shares of Cowen from a “b-” rating to a “c” rating in a research report on Friday, April 29th. Piper Sandler boosted their price objective on shares of Cowen from $55.00 to $58.00 in a research report on Monday, May 2nd. JMP Securities lowered their price objective on shares of Cowen from $62.00 to $59.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 7th. StockNews.com downgraded shares of Cowen from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. Finally, The Goldman Sachs Group lowered their price objective on shares of Cowen from $29.00 to $25.00 and set a “sell” rating on the stock in a research report on Tuesday, April 12th. Two analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cowen has a consensus rating of “Hold” and an average price target of $47.33.

Cowen Price Performance

The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $974.00 million, a P/E ratio of 6.42 and a beta of 1.44. The company’s 50-day simple moving average is $27.57 and its 200 day simple moving average is $27.48.

Cowen (NASDAQ:COWNGet Rating) last posted its earnings results on Friday, April 29th. The financial services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $0.61 by $0.74. The company had revenue of $331.64 million during the quarter, compared to the consensus estimate of $298.27 million. Cowen had a net margin of 10.97% and a return on equity of 18.83%. During the same period in the previous year, the firm posted $4.34 earnings per share. As a group, sell-side analysts expect that Cowen Inc. will post 4.48 earnings per share for the current fiscal year.

Cowen Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend was Tuesday, May 31st. Cowen’s dividend payout ratio is 8.79%.

Institutional Trading of Cowen

Several large investors have recently added to or reduced their stakes in COWN. Offit Capital Advisors LLC bought a new stake in Cowen in the first quarter worth approximately $15,275,000. Schonfeld Strategic Advisors LLC lifted its stake in shares of Cowen by 423.6% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 389,676 shares of the financial services provider’s stock worth $14,067,000 after buying an additional 315,248 shares during the last quarter. Eagle Asset Management Inc. acquired a new stake in shares of Cowen in the fourth quarter worth $9,229,000. Millennium Management LLC lifted its stake in shares of Cowen by 24.3% in the fourth quarter. Millennium Management LLC now owns 1,050,635 shares of the financial services provider’s stock worth $37,928,000 after buying an additional 205,191 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Cowen by 177.9% in the first quarter. Goldman Sachs Group Inc. now owns 224,523 shares of the financial services provider’s stock worth $6,084,000 after buying an additional 143,728 shares during the last quarter. 89.63% of the stock is owned by institutional investors.

Cowen Company Profile

(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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