Cowen (NASDAQ:COWN) Cut to Hold at BidaskClub

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BidaskClub downgraded shares of Cowen (NASDAQ:COWN) from a buy rating to a hold rating in a report released on Thursday morning, BidAskClub reports.

COWN opened at $15.65 on Thursday. Cowen has a 12 month low of $11.80 and a 12 month high of $17.99. The firm has a market cap of $463.02 million, a PE ratio of 7.08 and a beta of 1.48. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.84 and a quick ratio of 0.84. The business’s fifty day moving average is $16.30.

Cowen (NASDAQ:COWN) last released its earnings results on Thursday, April 25th. The financial services provider reported $0.48 EPS for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $220.13 million. During the same period in the previous year, the firm posted $0.79 EPS. Cowen’s revenue for the quarter was down 3.3% on a year-over-year basis.

In related news, Director Brett H. Barth bought 20,000 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was purchased at an average cost of $15.29 per share, with a total value of $305,800.00. Following the purchase, the director now directly owns 47,332 shares of the company’s stock, valued at approximately $723,706.28. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.60% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Investors Research Corp purchased a new stake in Cowen during the 1st quarter worth about $27,000. PRW Wealth Management LLC purchased a new stake in Cowen during the 4th quarter worth about $35,000. Legal & General Group Plc lifted its holdings in Cowen by 20.3% during the 4th quarter. Legal & General Group Plc now owns 5,143 shares of the financial services provider’s stock worth $69,000 after buying an additional 867 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Cowen during the 4th quarter worth about $81,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in Cowen by 192.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,765 shares of the financial services provider’s stock worth $84,000 after buying an additional 3,796 shares during the last quarter. 90.54% of the stock is owned by institutional investors.

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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