Swiss National Bank increased its stake in shares of Ocwen (NYSE:OCN) by 25.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 198,400 shares of the financial services provider’s stock after purchasing an additional 40,600 shares during the period. Swiss National Bank owned 0.15% of Ocwen worth $621,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Teacher Retirement System of Texas acquired a new position in shares of Ocwen during the 4th quarter worth approximately $111,000. Voya Investment Management LLC grew its stake in Ocwen by 17.1% in the 2nd quarter. Voya Investment Management LLC now owns 54,338 shares of the financial services provider’s stock worth $146,000 after acquiring an additional 7,936 shares during the period. The Manufacturers Life Insurance Company grew its stake in Ocwen by 10.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 88,317 shares of the financial services provider’s stock worth $238,000 after acquiring an additional 8,186 shares during the period. Wells Fargo & Company MN grew its stake in Ocwen by 53.4% in the 3rd quarter. Wells Fargo & Company MN now owns 117,498 shares of the financial services provider’s stock worth $404,000 after acquiring an additional 40,919 shares during the period. Finally, FNY Partners Fund LP purchased a new stake in Ocwen in the 4th quarter worth approximately $423,000. Hedge funds and other institutional investors own 52.20% of the company’s stock.
In related news, major shareholder Leon G. Cooperman acquired 494,459 shares of the stock in a transaction dated Tuesday, January 23rd. The stock was bought at an average cost of $3.16 per share, with a total value of $1,562,490.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Leon G. Cooperman acquired 29,187 shares of the stock in a transaction dated Friday, March 2nd. The shares were bought at an average cost of $3.54 per share, with a total value of $103,321.98. Following the completion of the purchase, the insider now directly owns 1,000,000 shares in the company, valued at $3,540,000. The disclosure for this purchase can be found here. Insiders acquired a total of 1,517,551 shares of company stock valued at $4,985,671 over the last ninety days. 2.36% of the stock is owned by corporate insiders.
Separately, ValuEngine raised shares of Ocwen from a “sell” rating to a “hold” rating in a research note on Saturday, March 17th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $3.33.
OCN stock traded up $0.05 during midday trading on Friday, hitting $4.34. The stock had a trading volume of 1,192,056 shares, compared to its average volume of 1,128,426. The stock has a market capitalization of $578.78, a P/E ratio of -4.62 and a beta of 1.19. The company has a debt-to-equity ratio of 11.13, a quick ratio of 5.42 and a current ratio of 5.42. Ocwen has a 12-month low of $2.12 and a 12-month high of $5.55.
Ocwen (NYSE:OCN) last released its earnings results on Wednesday, February 28th. The financial services provider reported ($0.09) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.14. The firm had revenue of $276.77 million during the quarter, compared to analysts’ expectations of $250.00 million. Ocwen had a negative net margin of 10.71% and a negative return on equity of 20.31%. Ocwen’s revenue for the quarter was down 14.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.08) EPS. research analysts forecast that Ocwen will post -0.85 earnings per share for the current fiscal year.
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Ocwen Financial Corporation, a financial services holding company, originates and services loans in the United States, the United States Virgin Islands, India, and Philippines. Its Servicing segment provides residential and commercial mortgage loan servicing, special servicing, and asset management services to owners of mortgage loans and foreclosed real estate.
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