Cowen Group, Inc. (COWN) Price Target Increased to $18.00 by Analysts at Nomura
Cowen Group, Inc. (NASDAQ:COWN) had its price objective hoisted by equities research analysts at Nomura from $17.00 to $18.00 in a research report issued on Thursday. The firm currently has a “neutral” rating on the financial services provider’s stock. Nomura’s price target would indicate a potential upside of 14.65% from the company’s previous close.
Separately, BidaskClub lowered shares of Cowen Group from a “hold” rating to a “sell” rating in a research note on Thursday.
Shares of Cowen Group (NASDAQ COWN) traded up 2.55% during midday trading on Thursday, reaching $16.10. 199,362 shares of the company were exchanged. The company’s market capitalization is $497.20 million. Cowen Group has a 52-week low of $2.90 and a 52-week high of $16.95. The stock has a 50-day moving average price of $16.30 and a 200 day moving average price of $15.07.
Cowen Group (NASDAQ:COWN) last issued its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.12. Cowen Group had a net margin of 1.00% and a return on equity of 1.92%. The firm had revenue of $171.90 million for the quarter, compared to analyst estimates of $169.54 million. During the same period in the previous year, the business earned ($0.11) EPS. The company’s revenue was up 113.8% compared to the same quarter last year. Equities research analysts expect that Cowen Group will post $1.65 EPS for the current fiscal year.
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In other Cowen Group news, major shareholder Peter A. Cohen sold 194,349 shares of Cowen Group stock in a transaction on Friday, July 7th. The shares were sold at an average price of $0.39, for a total value of $75,796.11. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Peter A. Cohen sold 133,202 shares of Cowen Group stock in a transaction on Monday, July 10th. The shares were sold at an average price of $0.37, for a total transaction of $49,284.74. The disclosure for this sale can be found here. Insiders sold a total of 1,049,914 shares of company stock worth $300,237 over the last quarter. Company insiders own 4.90% of the company’s stock.
A number of large investors have recently modified their holdings of COWN. Sei Investments Co. acquired a new stake in shares of Cowen Group during the second quarter valued at about $119,000. Russell Investments Group Ltd. acquired a new stake in shares of Cowen Group during the fourth quarter valued at about $143,000. American International Group Inc. raised its stake in shares of Cowen Group by 7.2% in the first quarter. American International Group Inc. now owns 15,740 shares of the financial services provider’s stock valued at $235,000 after buying an additional 1,051 shares during the last quarter. Blair William & Co. IL raised its stake in shares of Cowen Group by 6.9% in the first quarter. Blair William & Co. IL now owns 17,975 shares of the financial services provider’s stock valued at $269,000 after buying an additional 1,166 shares during the last quarter. Finally, Croft Leominster Inc. acquired a new stake in shares of Cowen Group during the first quarter valued at about $374,000. Hedge funds and other institutional investors own 91.13% of the company’s stock.
Cowen Group Company Profile
Cowen Inc, formerly Cowen Group, Inc, is a financial services company. The Company provides alternative investment management, investment banking, research, sales and trading, and prime brokerage services. It operates through two segments: alternative investment and broker-dealer. The alternative investment segment includes private equity structures, registered investment companies and listed investment vehicles.
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