ETRADE Capital Management LLC Acquires Shares of 10,228 Cowen Group, Inc. (COWN)
ETRADE Capital Management LLC acquired a new position in shares of Cowen Group, Inc. (NASDAQ:COWN) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,228 shares of the financial services provider’s stock, valued at approximately $166,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Fosun International Ltd lifted its stake in shares of Cowen Group by 182.9% in the second quarter. Fosun International Ltd now owns 1,145,187 shares of the financial services provider’s stock worth $18,609,000 after acquiring an additional 740,450 shares during the period. FMR LLC boosted its holdings in Cowen Group by 35.4% in the second quarter. FMR LLC now owns 2,317,324 shares of the financial services provider’s stock valued at $37,657,000 after acquiring an additional 605,935 shares during the last quarter. Salzhauer Michael acquired a new stake in Cowen Group during the 2nd quarter valued at approximately $5,433,000. Foundry Partners LLC acquired a new stake in Cowen Group during the 2nd quarter valued at approximately $5,407,000. Finally, Monarch Partners Asset Management LLC increased its position in Cowen Group by 760.7% during the 2nd quarter. Monarch Partners Asset Management LLC now owns 246,342 shares of the financial services provider’s stock valued at $4,003,000 after purchasing an additional 217,720 shares during the period. Institutional investors own 81.60% of the company’s stock.
Several research firms have issued reports on COWN. BidaskClub lowered shares of Cowen Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Instinet restated a “neutral” rating and issued a $18.00 price target (up previously from $17.00) on shares of Cowen Group in a research report on Friday, August 11th. Finally, Nomura boosted their price target on shares of Cowen Group from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 10th.
In related news, major shareholder Peter A. Cohen sold 100,000 shares of the firm’s stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $0.31, for a total value of $31,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Peter A. Cohen sold 500,000 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $0.21, for a total value of $105,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,049,914 shares of company stock valued at $300,237. 6.20% of the stock is currently owned by company insiders.
Cowen Group, Inc. (COWN) opened at 17.90 on Wednesday. Cowen Group, Inc. has a 12-month low of $11.60 and a 12-month high of $18.10. The company has a 50-day moving average of $16.50 and a 200 day moving average of $15.54. The firm’s market cap is $552.79 million.
Cowen Group (NASDAQ:COWN) last released its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.12. The firm had revenue of $171.90 million for the quarter, compared to analysts’ expectations of $169.54 million. Cowen Group had a net margin of 1.00% and a return on equity of 1.92%. The company’s revenue for the quarter was up 113.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.11) earnings per share. Equities analysts expect that Cowen Group, Inc. will post $1.65 EPS for the current fiscal year.
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About Cowen Group
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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