Cowen (COWN) Lowered to “Strong Sell” at BidaskClub

Cowen (NASDAQ:COWN) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday, December 30th.

Separately, Nomura lowered their price target on shares of Cowen from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday, October 31st.

Cowen (NASDAQ:COWN) traded up $0.10 during trading on Friday, hitting $13.60. 292,384 shares of the company’s stock traded hands, compared to its average volume of 359,000. Cowen has a 1 year low of $12.45 and a 1 year high of $18.25. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.79 and a current ratio of 0.79. The company has a market cap of $421.24, a PE ratio of 68.00 and a beta of 1.58.

Cowen (NASDAQ:COWN) last posted its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.11. The company had revenue of $182.60 million for the quarter, compared to analysts’ expectations of $181.96 million. Cowen had a net margin of 2.29% and a return on equity of 1.54%. Cowen’s revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 EPS.

Several hedge funds have recently made changes to their positions in the company. Prudential Financial Inc. grew its stake in shares of Cowen by 34.6% in the 3rd quarter. Prudential Financial Inc. now owns 59,865 shares of the financial services provider’s stock worth $1,065,000 after buying an additional 15,380 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Cowen in the 2nd quarter worth $1,649,000. Fosun International Ltd lifted its holdings in shares of Cowen by 12.4% in the 3rd quarter. Fosun International Ltd now owns 1,287,554 shares of the financial services provider’s stock worth $22,919,000 after acquiring an additional 142,367 shares during the last quarter. Parametric Portfolio Associates LLC lifted its holdings in shares of Cowen by 68.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 138,017 shares of the financial services provider’s stock worth $2,243,000 after acquiring an additional 55,922 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Cowen by 31.5% in the 3rd quarter. SG Americas Securities LLC now owns 409,306 shares of the financial services provider’s stock worth $7,286,000 after acquiring an additional 98,115 shares during the last quarter. Hedge funds and other institutional investors own 81.16% of the company’s stock.

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Cowen 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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