Swiss National Bank Buys 13,500 Shares of Cowen Inc (COWN)

Swiss National Bank boosted its position in shares of Cowen Inc (NASDAQ:COWN) by 35.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 51,825 shares of the financial services provider’s stock after purchasing an additional 13,500 shares during the period. Swiss National Bank owned 0.17% of Cowen worth $707,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. California Public Employees Retirement System raised its holdings in Cowen by 28.7% during the fourth quarter. California Public Employees Retirement System now owns 78,601 shares of the financial services provider’s stock valued at $1,073,000 after buying an additional 17,534 shares in the last quarter. Cumberland Partners Ltd increased its stake in shares of Cowen by 20.1% in the fourth quarter. Cumberland Partners Ltd now owns 387,200 shares of the financial services provider’s stock worth $5,285,000 after purchasing an additional 64,825 shares during the period. Gator Capital Management LLC bought a new position in shares of Cowen in the fourth quarter worth about $2,715,000. Monarch Partners Asset Management LLC increased its stake in shares of Cowen by 3.2% in the fourth quarter. Monarch Partners Asset Management LLC now owns 233,822 shares of the financial services provider’s stock worth $3,192,000 after purchasing an additional 7,340 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of Cowen by 35.1% in the fourth quarter. Victory Capital Management Inc. now owns 113,800 shares of the financial services provider’s stock worth $1,553,000 after purchasing an additional 29,550 shares during the period. 85.40% of the stock is owned by hedge funds and other institutional investors.

A number of research firms have recently commented on COWN. Nomura upgraded Cowen from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $13.00 to $16.00 in a research note on Friday, February 16th. BidaskClub lowered Cowen from a “sell” rating to a “strong sell” rating in a research note on Saturday, December 30th.

COWN stock traded down $0.30 during trading on Friday, reaching $14.00. 296,030 shares of the stock were exchanged, compared to its average volume of 375,104. Cowen Inc has a twelve month low of $11.63 and a twelve month high of $18.25. The company has a market cap of $421.24, a PE ratio of 26.48 and a beta of 1.27. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.80.

Cowen (NASDAQ:COWN) last released its earnings results on Thursday, February 15th. The financial services provider reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.69). Cowen had a positive return on equity of 1.99% and a negative net margin of 9.24%. The firm had revenue of $204.50 million for the quarter, compared to analyst estimates of $178.98 million. During the same period last year, the business earned ($0.48) earnings per share. The firm’s quarterly revenue was up 67.2% compared to the same quarter last year.

Cowen announced that its board has authorized a share repurchase program on Thursday, February 15th that permits the company to buyback $23.60 million in outstanding shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

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Cowen 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.

Institutional Ownership by Quarter for Cowen (NASDAQ:COWN)

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