Cowen (NASDAQ:COWN) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of Cowen (NASDAQ:COWN) from a hold rating to a buy rating in a report issued on Saturday, June 29th, BidAskClub reports.

COWN traded up $0.26 during trading on Friday, reaching $16.06. 345,234 shares of the company were exchanged, compared to its average volume of 264,376. The firm has a market capitalization of $475.15 million, a PE ratio of 7.27 and a beta of 1.48. The business’s 50 day moving average price is $16.24. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.84 and a current ratio of 0.84. Cowen has a 52 week low of $11.80 and a 52 week high of $17.99.

Cowen (NASDAQ:COWN) last issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.04. Cowen had a return on equity of 8.94% and a net margin of 3.91%. The firm had revenue of $233.50 million during the quarter, compared to the consensus estimate of $220.13 million. During the same period in the prior year, the business earned $0.79 EPS. The firm’s revenue was down 3.3% on a year-over-year basis.

In other Cowen news, Director Brett H. Barth purchased 20,000 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was bought at an average price of $15.29 per share, with a total value of $305,800.00. Following the completion of the purchase, the director now owns 47,332 shares in the company, valued at approximately $723,706.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 3.60% of the company’s stock.

Several institutional investors have recently made changes to their positions in COWN. Millennium Management LLC lifted its holdings in shares of Cowen by 15.1% in the fourth quarter. Millennium Management LLC now owns 1,126,626 shares of the financial services provider’s stock valued at $15,029,000 after buying an additional 147,760 shares during the period. BBR Partners LLC purchased a new stake in shares of Cowen during the first quarter valued at $2,093,000. Acadian Asset Management LLC lifted its holdings in shares of Cowen by 2,210.6% during the first quarter. Acadian Asset Management LLC now owns 141,133 shares of the financial services provider’s stock valued at $2,044,000 after purchasing an additional 135,025 shares during the last quarter. IndexIQ Advisors LLC purchased a new stake in shares of Cowen during the first quarter valued at $1,133,000. Finally, Spark Investment Management LLC lifted its holdings in shares of Cowen by 100.1% during the first quarter. Spark Investment Management LLC now owns 151,500 shares of the financial services provider’s stock valued at $2,195,000 after purchasing an additional 75,800 shares during the last quarter. Institutional investors and hedge funds own 90.58% of the company’s stock.

About Cowen

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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