Cowen (COWN) Rating 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 on Saturday, December 30th.

Separately, Nomura dropped their price objective on shares of Cowen from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, October 31st.

Cowen (NASDAQ COWN) opened at $14.25 on Friday. Cowen has a fifty-two week low of $12.45 and a fifty-two week high of $18.25. The stock has a market cap of $548.91, a price-to-earnings ratio of 71.25 and a beta of 1.58. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.16.

Cowen (NASDAQ:COWN) last announced its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.11. Cowen had a net margin of 2.29% and a return on equity of 1.54%. The firm had revenue of $182.60 million for the quarter, compared to analyst estimates of $181.96 million. During the same quarter in the prior year, the business earned $0.10 earnings per share. The business’s quarterly revenue was up 19.0% compared to the same quarter last year.

Large investors have recently bought and sold shares of the company. Prudential Financial Inc. increased its position in shares of Cowen by 34.6% during the third quarter. Prudential Financial Inc. now owns 59,865 shares of the financial services provider’s stock worth $1,065,000 after acquiring an additional 15,380 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Cowen during the second quarter worth about $1,649,000. Fosun International Ltd increased its position in shares of Cowen by 12.4% during the third 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 in the last quarter. Parametric Portfolio Associates LLC increased its position in shares of Cowen by 68.1% during the second 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 in the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Cowen by 31.5% during the third 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 in the last quarter. 81.16% of the stock is owned by institutional investors.

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About Cowen

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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