Cowen Inc. (NASDAQ:COWN) is Heartland Advisors Inc.’s 4th Largest Position

Heartland Advisors Inc. decreased its stake in shares of Cowen Inc. (NASDAQ:COWN) by 7.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 598,090 shares of the financial services provider’s stock after selling 45,860 shares during the quarter. Cowen comprises about 1.3% of Heartland Advisors Inc.’s investment portfolio, making the stock its 4th biggest holding. Heartland Advisors Inc. owned about 2.23% of Cowen worth $21,023,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Renaissance Technologies LLC raised its stake in shares of Cowen by 37.9% in the fourth quarter. Renaissance Technologies LLC now owns 174,006 shares of the financial services provider’s stock worth $4,522,000 after purchasing an additional 47,778 shares during the last quarter. Azora Capital LP purchased a new position in shares of Cowen in the fourth quarter worth $13,668,000. Keebeck Alpha LP purchased a new position in shares of Cowen in the first quarter worth $238,000. Engineers Gate Manager LP purchased a new position in shares of Cowen in the fourth quarter worth $1,255,000. Finally, EAM Investors LLC raised its stake in shares of Cowen by 65.4% in the first quarter. EAM Investors LLC now owns 109,088 shares of the financial services provider’s stock worth $3,834,000 after purchasing an additional 43,152 shares during the last quarter.

Cowen stock traded up $0.42 during mid-day trading on Friday, reaching $38.64. 17,041 shares of the stock traded hands, compared to its average volume of 703,075. The firm has a market capitalization of $1.04 billion, a PE ratio of 3.25 and a beta of 1.46. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.07. Cowen Inc. has a 12-month low of $13.49 and a 12-month high of $43.17. The firm’s 50-day simple moving average is $38.96.

Cowen (NASDAQ:COWN) last released its quarterly earnings results on Thursday, April 29th. The financial services provider reported $4.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.33 by $0.01. Cowen had a return on equity of 42.17% and a net margin of 19.61%. The business had revenue of $687.40 million during the quarter, compared to analyst estimates of $506.73 million. Equities research analysts expect that Cowen Inc. will post 8.82 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Tuesday, June 1st will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Friday, May 28th. This is a positive change from Cowen’s previous quarterly dividend of $0.08. Cowen’s payout ratio is currently 3.52%.

Several research firms have recently weighed in on COWN. Zacks Investment Research cut Cowen from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 4th. JMP Securities upped their price objective on Cowen from $36.00 to $60.00 in a research report on Thursday, March 25th. Finally, Compass Point upgraded Cowen from a “neutral” rating to a “buy” rating and set a $43.00 price objective for the company in a research report on Monday, March 29th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $34.67.

Cowen Company Profile

Cowen Inc, together with its subsidiaries, provides investment banking, research, sales and trading, prime brokerage, global clearing, securities financing, commission management, and investment management services in the United States and internationally. It operates in two segments, Operating Company (Op Co) and Asset Company (Asset Co).

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Institutional Ownership by Quarter for Cowen (NASDAQ:COWN)

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