BidaskClub Upgrades Cowen (NASDAQ:COWN) to “Hold”

BidaskClub upgraded shares of Cowen (NASDAQ:COWN) from a sell rating to a hold rating in a research note released on Monday, February 4th.

COWN stock traded up $0.20 on Monday, hitting $15.68. The company had a trading volume of 244,119 shares, compared to its average volume of 385,069. The stock has a market capitalization of $456.92 million, a P/E ratio of 6.65 and a beta of 1.43. Cowen has a 12-month low of $11.80 and a 12-month high of $17.99. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.16.

Cowen (NASDAQ:COWN) last announced its quarterly earnings data on Thursday, February 14th. The financial services provider reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.17. The firm had revenue of $259.90 million for the quarter, compared to the consensus estimate of $193.30 million. Cowen had a net margin of 4.55% and a return on equity of 10.03%. The company’s revenue was up 27.1% on a year-over-year basis. During the same period last year, the firm earned ($0.30) EPS.

In other Cowen news, Director Brett H. Barth purchased 5,000 shares of Cowen stock in a transaction dated Friday, December 21st. The stock was acquired at an average price of $12.92 per share, for a total transaction of $64,600.00. Following the acquisition, the director now owns 27,332 shares in the company, valued at approximately $353,129.44. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 5.70% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. increased its stake in Cowen by 3.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 140,656 shares of the financial services provider’s stock valued at $1,949,000 after purchasing an additional 4,834 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Cowen by 9.9% in the 2nd quarter. BlackRock Inc. now owns 2,284,242 shares of the financial services provider’s stock valued at $31,637,000 after acquiring an additional 206,212 shares during the last quarter. Bank of America Corp DE boosted its holdings in Cowen by 13.7% during the second quarter. Bank of America Corp DE now owns 108,994 shares of the financial services provider’s stock worth $1,510,000 after buying an additional 13,164 shares in the last quarter. Macquarie Group Ltd. purchased a new stake in Cowen during the second quarter worth $313,000. Finally, United Services Automobile Association purchased a new stake in Cowen during the second quarter worth $168,000. Hedge funds and other institutional investors own 93.35% 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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