Cowen (COWN) Upgraded at BidaskClub

BidaskClub upgraded shares of Cowen (NASDAQ:COWN) from a sell rating to a hold rating in a research report released on Thursday morning, BidAskClub reports.

NASDAQ:COWN traded up $0.38 during trading on Thursday, reaching $16.98. The company’s stock had a trading volume of 6,032 shares, compared to its average volume of 320,439. The company has a market capitalization of $488.06 million, a PE ratio of 6.57 and a beta of 1.39. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.14 and a quick ratio of 1.14. Cowen has a 12 month low of $11.80 and a 12 month high of $17.99.

Cowen (NASDAQ:COWN) last announced its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. The firm had revenue of $233.50 million during the quarter, compared to the consensus estimate of $220.13 million. Cowen had a return on equity of 10.00% and a net margin of 4.55%. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.79 EPS.

A number of large investors have recently made changes to their positions in COWN. BlackRock Inc. lifted its position in shares of Cowen by 6.0% during the 3rd quarter. BlackRock Inc. now owns 2,421,467 shares of the financial services provider’s stock valued at $39,470,000 after buying an additional 137,225 shares during the last quarter. Vanguard Group Inc lifted its holdings in Cowen by 0.6% in the 3rd quarter. Vanguard Group Inc now owns 1,240,359 shares of the financial services provider’s stock worth $20,217,000 after buying an additional 7,280 shares during the period. Vanguard Group Inc. lifted its holdings in Cowen by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,240,359 shares of the financial services provider’s stock worth $20,217,000 after buying an additional 7,280 shares during the period. Millennium Management LLC lifted its holdings in Cowen by 15.1% in the 4th quarter. Millennium Management LLC now owns 1,126,626 shares of the financial services provider’s stock worth $15,029,000 after buying an additional 147,760 shares during the period. Finally, Monarch Partners Asset Management LLC lifted its holdings in Cowen by 10.2% in the 4th quarter. Monarch Partners Asset Management LLC now owns 441,448 shares of the financial services provider’s stock worth $5,889,000 after buying an additional 40,886 shares during the period. Hedge funds and other institutional investors own 90.61% of the company’s stock.

Cowen Company Profile

Cowen Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides alternative investment management, investment banking, research, and sales and trading services for its clients. It manages separate client focused portfolio through its subsidiaries. Through its subsidiaries, the firm invests in equity and fixed income markets.

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