Cowen (COWN) Releases Earnings Results, Misses Expectations By $0.69 EPS
Cowen (NASDAQ:COWN) posted its quarterly earnings data on Thursday. The financial services provider reported ($0.30) EPS for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.69), Bloomberg Earnings reports. Cowen had a return on equity of 1.54% and a net margin of 2.29%. The firm had revenue of $204.50 million during the quarter, compared to the consensus estimate of $178.98 million. During the same period in the prior year, the firm posted ($0.48) EPS. The firm’s quarterly revenue was up 67.2% on a year-over-year basis.
Cowen (NASDAQ:COWN) traded up $0.05 on Thursday, hitting $12.35. The stock had a trading volume of 316,200 shares, compared to its average volume of 326,205. Cowen has a 12 month low of $11.75 and a 12 month high of $18.25. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.16. The company has a market cap of $382.38, a P/E ratio of 34.17 and a beta of 1.44.
Several institutional investors have recently made changes to their positions in the company. Cowen Inc. acquired a new stake in shares of Cowen during the fourth quarter worth $2,036,000. Glacier Peak Capital LLC raised its position in shares of Cowen by 8.9% during the fourth quarter. Glacier Peak Capital LLC now owns 112,073 shares of the financial services provider’s stock worth $1,995,000 after purchasing an additional 9,118 shares during the period. Philadelphia Financial Management of San Francisco LLC acquired a new stake in shares of Cowen during the fourth quarter worth $5,470,000. Garnet Equity Capital Holdings Inc. acquired a new stake in shares of Cowen during the fourth quarter worth $4,095,000. Finally, Two Sigma Investments LP acquired a new stake in shares of Cowen during the fourth quarter worth $440,000. 79.38% of the stock is currently owned by institutional investors.
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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