Great Lakes Advisors LLC Purchases Shares of 109,493 Cowen Group, Inc. (COWN)
Great Lakes Advisors LLC purchased a new stake in shares of Cowen Group, Inc. (NASDAQ:COWN) during the second quarter, according to its most recent filing with the SEC. The fund purchased 109,493 shares of the financial services provider’s stock, valued at approximately $1,779,000. Great Lakes Advisors LLC owned 0.40% of Cowen Group as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Sei Investments Co. acquired a new position in Cowen Group during the second quarter valued at approximately $119,000. American International Group Inc. raised its position in 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 position in 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. Croft Leominster Inc. acquired a new position in Cowen Group during the first quarter valued at approximately $374,000. Finally, California Public Employees Retirement System raised its position in Cowen Group by 82.9% in the first quarter. California Public Employees Retirement System now owns 35,075 shares of the financial services provider’s stock valued at $524,000 after buying an additional 15,900 shares during the last quarter. Hedge funds and other institutional investors own 81.60% of the company’s stock.
Cowen Group, Inc. (COWN) opened at 16.30 on Tuesday. The stock’s market cap is $503.38 million. Cowen Group, Inc. has a 12-month low of $11.60 and a 12-month high of $16.95. The company has a 50-day moving average of $16.22 and a 200 day moving average of $15.15.
Cowen Group (NASDAQ:COWN) last posted its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.39 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.12. The firm had revenue of $171.90 million during the quarter, compared to the consensus estimate of $169.54 million. Cowen Group had a return on equity of 1.92% and a net margin of 1.00%. The business’s revenue was up 113.8% compared to the same quarter last year. During the same period last year, the company earned ($0.11) earnings per share. Equities analysts anticipate that Cowen Group, Inc. will post $1.65 earnings per share for the current year.
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Several research analysts recently commented on COWN shares. BidaskClub lowered shares of Cowen Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Instinet restated a “neutral” rating and issued a $18.00 price target (up previously from $17.00) on shares of Cowen Group in a report on Friday, August 11th. Finally, Nomura raised their price target on shares of Cowen Group from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 10th.
In other news, major shareholder Peter A. Cohen sold 500,000 shares of Cowen Group stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $0.21, for a total transaction of $105,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Peter A. Cohen sold 194,349 shares of Cowen Group stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $0.39, for a total value of $75,796.11. The disclosure for this sale can be found here. Insiders have sold a total of 1,049,914 shares of company stock valued at $300,237 over the last quarter. 6.20% of the stock is currently owned by corporate insiders.
About Cowen Group
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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