Thompson Siegel & Walmsley LLC reduced its stake in Cowen Group (NASDAQ:COWN) by 6.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 750,063 shares of the financial services provider’s stock after selling 50,848 shares during the period. Thompson Siegel & Walmsley LLC owned 2.54% of Cowen Group worth $9,900,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. California Public Employees Retirement System boosted its position in shares of Cowen Group by 28.7% in the 4th quarter. California Public Employees Retirement System now owns 78,601 shares of the financial services provider’s stock worth $1,073,000 after purchasing an additional 17,534 shares during the last quarter. Monarch Partners Asset Management LLC lifted its holdings in Cowen Group by 3.2% during 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 acquiring an additional 7,340 shares in the last quarter. Brandywine Global Investment Management LLC bought a new position in Cowen Group during the fourth quarter worth about $162,000. Garnet Equity Capital Holdings Inc. bought a new position in Cowen Group during the fourth quarter worth about $4,095,000. Finally, Glacier Peak Capital LLC lifted its holdings in Cowen Group by 8.9% during the fourth quarter. Glacier Peak Capital LLC now owns 112,073 shares of the financial services provider’s stock worth $1,995,000 after acquiring an additional 9,118 shares in the last quarter. Institutional investors and hedge funds own 86.99% of the company’s stock.
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In other Cowen Group news, Director Peter A. Cohen sold 12,000 shares of Cowen Group stock in a transaction dated Thursday, April 12th. The stock was sold at an average price of $14.53, for a total value of $174,360.00. Following the sale, the director now owns 881,877 shares of the company’s stock, valued at approximately $12,813,672.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter A. Cohen sold 6,500 shares of Cowen Group stock in a transaction dated Friday, April 27th. The shares were sold at an average price of $16.04, for a total value of $104,260.00. Following the completion of the sale, the director now directly owns 810,375 shares in the company, valued at approximately $12,998,415. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 187,002 shares of company stock worth $2,866,950. Corporate insiders own 4.90% of the company’s stock.
Several research analysts have weighed in on the company. Nomura upgraded Cowen Group from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $13.00 to $16.00 in a report on Friday, February 16th. BidaskClub upgraded Cowen Group from a “sell” rating to a “hold” rating in a report on Saturday, April 7th.
Cowen Group opened at $15.85 on Friday, Marketbeat Ratings reports. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market cap of $464.90 million, a price-to-earnings ratio of 13.82 and a beta of 1.27. Cowen Group has a 1-year low of $15.65 and a 1-year high of $15.75.
Cowen Group (NASDAQ:COWN) last posted its earnings results on Thursday, April 26th. The financial services provider reported $0.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.16. The firm had revenue of $241.50 million for the quarter, compared to analyst estimates of $220.06 million. Cowen Group had a positive return on equity of 4.33% and a negative net margin of 5.91%. The company’s revenue for the quarter was up 110.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 earnings per share.
Cowen Group announced that its board has initiated a stock buyback plan on Thursday, February 15th that permits the company to repurchase $23.60 million in outstanding shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
Cowen Group 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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