BidaskClub lowered shares of Cowen (NASDAQ:COWN) from a hold rating to a sell rating in a research note published on Thursday, BidAskClub reports.

Shares of NASDAQ COWN opened at $16.06 on Thursday. The company has a market cap of $475.15 million, a PE ratio of 7.27 and a beta of 1.48. The firm has a 50-day moving average of $16.24. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.84 and a quick ratio of 0.84. Cowen has a fifty-two week low of $11.80 and a fifty-two week high of $17.99.

Cowen (NASDAQ:COWN) last announced its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.04. The company had revenue of $233.50 million during the quarter, compared to analysts’ expectations of $220.13 million. Cowen had a return on equity of 8.94% and a net margin of 3.91%. Cowen’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.79 EPS.

In other news, Director Brett H. Barth bought 20,000 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The stock was acquired at an average cost of $15.29 per share, for a total transaction of $305,800.00. Following the purchase, the director now owns 47,332 shares of the company’s stock, valued at approximately $723,706.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.60% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the stock. Millennium Management LLC lifted its stake in Cowen by 15.1% in the 4th quarter. Millennium Management LLC now owns 1,126,626 shares of the financial services provider’s stock valued at $15,029,000 after purchasing an additional 147,760 shares during the last quarter. Salzhauer Michael lifted its stake in Cowen by 7.4% in the 1st quarter. Salzhauer Michael now owns 560,410 shares of the financial services provider’s stock valued at $8,120,000 after purchasing an additional 38,800 shares during the last quarter. Monarch Partners Asset Management LLC lifted its stake in Cowen by 6.3% in the 1st quarter. Monarch Partners Asset Management LLC now owns 469,388 shares of the financial services provider’s stock valued at $6,801,000 after purchasing an additional 27,940 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in Cowen by 1.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 376,670 shares of the financial services provider’s stock valued at $5,024,000 after purchasing an additional 5,459 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Cowen by 10.4% in the 4th quarter. Geode Capital Management LLC now owns 332,469 shares of the financial services provider’s stock valued at $4,434,000 after purchasing an additional 31,296 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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