Stock Traders Buy Large Volume of Put Options on Ocwen Financial Corp. (OCN)
Ocwen Financial Corp. (NYSE:OCN) was the recipient of unusually large options trading activity on Thursday. Stock investors acquired 10,920 put options on the stock, AnalystRatingsNetwork.com reports. This represents an increase of approximately 334% compared to the average volume of 2,518 put options.
Several analysts have recently commented on the stock. Analysts at Compass Point upgraded shares of Ocwen Financial Corp. from a “neutral” rating to a “buy” rating in a research note to investors on Thursday. Analysts at Zacks downgraded shares of Ocwen Financial Corp. from a “neutral” rating to an “underperform” rating in a research note to investors on Tuesday, November 26th. They now have a $50.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $55.80.
Ocwen Financial Corp. (NYSE:OCN) opened at 41.38 on Friday. Ocwen Financial Corp. has a 52-week low of $34.10 and a 52-week high of $60.18. The stock has a 50-day moving average of $50.97 and a 200-day moving average of $52.93. The company has a market cap of $5.620 billion and a P/E ratio of 24.74.
Ocwen Financial Corporation is a financial services holding company. The Company is engaged in the servicing and origination of mortgage loans.
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