Insider Selling: Owen S. Littman Unloads 60,000 Shares of Cowen Group Stock (COWN)
Cowen Group (NASDAQ:COWN) General Counsel Owen S. Littman sold 60,000 shares of the company’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $4.20, for a total value of $252,000.00. Following the sale, the general counsel now directly owns 462,719 shares of the company’s stock, valued at approximately $1,943,420. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Cowen Group (NASDAQ:COWN) traded up 1.71% during mid-day trading on Friday, hitting $4.17. 635,601 shares of the company’s stock traded hands. Cowen Group has a 52-week low of $2.84 and a 52-week high of $4.83. The stock has a 50-day moving average of $4.07 and a 200-day moving average of $4.07. The company has a market cap of $479.4 million and a P/E ratio of 29.93.
Cowen Group (NASDAQ:COWN) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.09 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.07 by $0.02. The company had revenue of $110.00 million for the quarter, compared to the consensus estimate of $103.31 million. On average, analysts predict that Cowen Group will post $0.31 earnings per share for the current fiscal year.
A number of research firms have recently commented on COWN. Analysts at Nomura initiated coverage on shares of Cowen Group in a research note on Friday, May 30th. They set a “buy” rating and a $5.40 price target on the stock. Separately, analysts at Zacks upgraded shares of Cowen Group from an “underperform” rating to a “neutral” rating in a research note on Thursday, May 8th. They now have a $4.00 price target on the stock. Finally, analysts at Sandler O’Neill reiterated a “buy” rating on shares of Cowen Group in a research note on Tuesday, March 18th.
Cowen Group, Inc (NASDAQ:COWN) together with its subsidiaries, provides alternative investment management, investment banking, research, and sales and trading services through its two business segments: Ramius LLC and its affiliates (Ramius) consists of the Company’s alternative investment management segment, while Cowen and Company, LLC (Cowen and Company) and its affiliates consists of the Company’s broker-dealer segment.
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