Salzhauer Michael reduced its holdings in Cowen Inc (NASDAQ:COWN) by 1.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 563,875 shares of the financial services provider’s stock after selling 6,185 shares during the period. Cowen comprises 4.5% of Salzhauer Michael’s holdings, making the stock its 5th biggest position. Salzhauer Michael owned about 1.91% of Cowen worth $8,677,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC acquired a new position in shares of Cowen in the 3rd quarter valued at $34,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Cowen by 55.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,789 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 991 shares during the period. Envestnet Asset Management Inc. acquired a new position in shares of Cowen in the 3rd quarter valued at $167,000. Hancock Whitney Corp acquired a new position in shares of Cowen in the 2nd quarter valued at $196,000. Finally, WINTON GROUP Ltd acquired a new position in shares of Cowen in the 2nd quarter valued at $211,000. 96.86% of the stock is currently owned by institutional investors and hedge funds.
COWN has been the subject of several analyst reports. Buckingham Research initiated coverage on shares of Cowen in a research note on Tuesday, July 23rd. They issued a “buy” rating and a $20.00 target price for the company. Zacks Investment Research cut shares of Cowen from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, BidaskClub upgraded shares of Cowen from a “strong sell” rating to a “sell” rating in a research note on Saturday, October 26th.
Shares of COWN traded down $0.13 during trading hours on Friday, hitting $15.04. The stock had a trading volume of 154,000 shares, compared to its average volume of 276,436. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market capitalization of $454.56 million, a price-to-earnings ratio of 5.72 and a beta of 1.47. The firm has a 50-day moving average price of $14.80 and a 200 day moving average price of $15.92. Cowen Inc has a fifty-two week low of $11.80 and a fifty-two week high of $18.36.
Cowen (NASDAQ:COWN) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.04. The company had revenue of $252.00 million during the quarter, compared to analyst estimates of $212.72 million. Cowen had a net margin of 2.52% and a return on equity of 7.03%. Cowen’s revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.74 earnings per share. As a group, analysts predict that Cowen Inc will post 2.67 EPS for the current fiscal year.
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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