BidaskClub upgraded shares of Cowen (NASDAQ:COWN) from a sell rating to a hold rating in a research note released on Tuesday, BidAskClub reports.

Shares of COWN stock opened at $16.57 on Tuesday. The firm has a market cap of $490.54 million, a price-to-earnings ratio of 7.50 and a beta of 1.45. 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 12 month low of $11.80 and a 12 month high of $17.99.

Cowen (NASDAQ:COWN) last posted its earnings results on Thursday, April 25th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.04. Cowen had a net margin of 3.91% and a return on equity of 8.94%. The firm had revenue of $233.50 million during the quarter, compared to analyst estimates of $220.13 million. During the same quarter in the prior year, the business posted $0.79 EPS. The business’s revenue was down 3.3% compared to the same quarter last year.

In other news, Director Brett H. Barth bought 20,000 shares of Cowen stock in a transaction dated Friday, May 31st. The stock was purchased at an average price of $15.29 per share, for a total transaction of $305,800.00. Following the purchase, the director now directly owns 47,332 shares in the company, valued at approximately $723,706.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 5.70% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Investors Research Corp bought a new stake in shares of Cowen in the 1st quarter worth $27,000. PRW Wealth Management LLC bought a new stake in shares of Cowen in the 4th quarter worth $35,000. Legal & General Group Plc grew its stake in shares of Cowen by 20.3% in the 4th quarter. Legal & General Group Plc now owns 5,143 shares of the financial services provider’s stock worth $69,000 after acquiring an additional 867 shares in the last quarter. SEI Investments Co grew its stake in shares of Cowen by 24.5% in the 1st quarter. SEI Investments Co now owns 4,846 shares of the financial services provider’s stock worth $71,000 after acquiring an additional 955 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY grew its stake in shares of Cowen by 7.0% in the 1st quarter. Metropolitan Life Insurance Co NY now owns 10,710 shares of the financial services provider’s stock worth $77,000 after acquiring an additional 696 shares in the last quarter. Hedge funds and other institutional investors own 90.78% of the company’s stock.

Cowen Company Profile

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.

Further Reading: Cost of Equity

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