Morgan Stanley decreased its position in Ocwen Financial Corporation (NYSE:OCN) by 62.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 331,701 shares of the financial services provider’s stock after selling 545,559 shares during the period. Morgan Stanley owned 0.27% of Ocwen Financial Corporation worth $1,814,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in shares of Ocwen Financial Corporation by 6.7% in the first quarter. Bank of New York Mellon Corp now owns 510,410 shares of the financial services provider’s stock worth $2,791,000 after buying an additional 32,065 shares during the period. California Public Employees Retirement System raised its position in Ocwen Financial Corporation by 23.7% in the first quarter. California Public Employees Retirement System now owns 293,900 shares of the financial services provider’s stock worth $1,608,000 after buying an additional 56,400 shares during the period. Wellington Management Group LLP bought a new position in Ocwen Financial Corporation during the first quarter worth approximately $621,000. American International Group Inc. raised its position in Ocwen Financial Corporation by 7.1% in the first quarter. American International Group Inc. now owns 61,957 shares of the financial services provider’s stock worth $339,000 after buying an additional 4,088 shares during the period. Finally, Nationwide Fund Advisors raised its position in Ocwen Financial Corporation by 22.5% in the first quarter. Nationwide Fund Advisors now owns 79,051 shares of the financial services provider’s stock worth $432,000 after buying an additional 14,535 shares during the period. Institutional investors own 48.48% of the company’s stock.

Shares of Ocwen Financial Corporation (NYSE OCN) traded down 0.34% during trading on Thursday, hitting $2.89. The stock had a trading volume of 252,183 shares. The company’s market cap is $378.18 million. The firm’s 50 day moving average is $2.82 and its 200 day moving average is $3.55. Ocwen Financial Corporation has a 1-year low of $2.12 and a 1-year high of $6.15.

Ocwen Financial Corporation (NYSE:OCN) last announced its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.19) by $0.17. The company had revenue of $311.30 million during the quarter, compared to analysts’ expectations of $295.33 million. Ocwen Financial Corporation had a negative return on equity of 12.41% and a negative net margin of 5.95%. The firm’s revenue for the quarter was down 16.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.71) EPS. Equities research analysts anticipate that Ocwen Financial Corporation will post ($1.04) EPS for the current fiscal year.

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OCN has been the topic of a number of recent research reports. Zacks Investment Research upgraded Ocwen Financial Corporation from a “hold” rating to a “buy” rating and set a $3.00 price objective on the stock in a research note on Thursday, May 11th. BidaskClub upgraded Ocwen Financial Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 12th. ValuEngine upgraded Ocwen Financial Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Ocwen Financial Corporation in a research note on Monday, May 8th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $3.00 price objective on shares of Ocwen Financial Corporation in a research note on Wednesday, August 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $3.25.

Ocwen Financial Corporation Company Profile

Ocwen Financial Corporation is a financial services holding company. The Company, through its subsidiaries, originates and services loans. The Company’s segments include Servicing, Lending, and Corporate Items and Other. The Company’s Servicing segment consists of its residential servicing business. The Company’s Lending segment is focused on originating and purchasing conventional and government-insured residential forward and reverse mortgage loans.

Institutional Ownership by Quarter for Ocwen Financial Corporation (NYSE:OCN)

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