Peter A. Cohen Sells 100,000 Shares of Cowen Group, Inc. (COWN) Stock
Cowen Group, Inc. (NASDAQ:COWN) major shareholder Peter A. Cohen sold 100,000 shares of Cowen Group stock in a transaction on Thursday, July 13th. The shares were sold at an average price of $0.31, for a total transaction of $31,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Cowen Group, Inc. (NASDAQ:COWN) traded down 2.07% during midday trading on Friday, reaching $16.55. 119,050 shares of the company were exchanged. Cowen Group, Inc. has a 52-week low of $11.60 and a 52-week high of $16.95. The company’s market capitalization is $449.33 million. The company has a 50 day moving average of $15.41 and a 200-day moving average of $14.96.
Cowen Group (NASDAQ:COWN) last announced its quarterly earnings data on Thursday, April 27th. The financial services provider reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.06. Cowen Group had a negative return on equity of 2.38% and a negative net margin of 2.59%. The firm had revenue of $114.97 million for the quarter, compared to analyst estimates of $135.52 million. During the same quarter in the prior year, the company posted ($0.05) earnings per share. Cowen Group’s quarterly revenue was up 13.8% on a year-over-year basis. On average, equities research analysts anticipate that Cowen Group, Inc. will post $1.06 earnings per share for the current fiscal year.
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Separately, BidaskClub cut shares of Cowen Group from a “buy” rating to a “hold” rating in a research note on Tuesday.
Hedge funds have recently bought and sold shares of the stock. FMR LLC raised its stake in Cowen Group by 34.9% in the first quarter. FMR LLC now owns 1,711,389 shares of the financial services provider’s stock valued at $25,586,000 after buying an additional 442,401 shares during the period. American International Group Inc. raised its stake in Cowen Group by 7.2% in the first quarter. American International Group Inc. now owns 15,740 shares of the financial services provider’s stock valued at $235,000 after buying an additional 1,051 shares during the period. Blair William & Co. IL raised its stake in Cowen Group by 6.9% in the first quarter. Blair William & Co. IL now owns 17,975 shares of the financial services provider’s stock valued at $269,000 after buying an additional 1,166 shares during the period. SG Americas Securities LLC raised its stake in Cowen Group by 24.3% in the first quarter. SG Americas Securities LLC now owns 304,077 shares of the financial services provider’s stock valued at $4,546,000 after buying an additional 59,402 shares during the period. Finally, Parametric Portfolio Associates LLC raised its stake in Cowen Group by 91.7% in the first quarter. Parametric Portfolio Associates LLC now owns 82,095 shares of the financial services provider’s stock valued at $1,227,000 after buying an additional 39,267 shares during the period. 88.91% of the stock is currently owned by institutional investors.
Cowen Group Company Profile
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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