Cowen Group (COWN) Downgraded by BidaskClub

Cowen Group (NASDAQ:COWN) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Saturday.

Separately, Nomura dropped their price objective on shares of Cowen Group from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday, October 31st.

Cowen Group (COWN) traded down $0.10 on Friday, hitting $13.65. 329,657 shares of the company’s stock traded hands, compared to its average volume of 482,948. Cowen Group has a twelve month low of $12.45 and a twelve month high of $18.25. The company has a market cap of $427.46, a P/E ratio of 68.25 and a beta of 1.57. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.79 and a quick ratio of 0.79.

Cowen Group (NASDAQ:COWN) last released its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.26 EPS for the quarter, beating the consensus estimate of $0.15 by $0.11. Cowen Group had a net margin of 2.29% and a return on equity of 1.54%. The business had revenue of $182.60 million during the quarter, compared to the consensus estimate of $181.96 million. During the same quarter in the prior year, the firm earned $0.10 EPS. The business’s revenue was up 19.0% on a year-over-year basis.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its position in shares of Cowen Group by 4.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,629 shares of the financial services provider’s stock valued at $351,000 after buying an additional 876 shares in the last quarter. Voya Investment Management LLC raised its position in shares of Cowen Group by 15.7% during the 2nd quarter. Voya Investment Management LLC now owns 13,335 shares of the financial services provider’s stock valued at $217,000 after buying an additional 1,806 shares in the last quarter. Teachers Advisors LLC raised its position in shares of Cowen Group by 9.8% during the 2nd quarter. Teachers Advisors LLC now owns 45,204 shares of the financial services provider’s stock valued at $735,000 after buying an additional 4,031 shares in the last quarter. Sei Investments Co. raised its position in shares of Cowen Group by 68.7% during the 3rd quarter. Sei Investments Co. now owns 12,288 shares of the financial services provider’s stock valued at $219,000 after buying an additional 5,004 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Cowen Group by 5.5% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 101,364 shares of the financial services provider’s stock valued at $1,805,000 after buying an additional 5,239 shares in the last quarter. Hedge funds and other institutional investors own 81.18% of the company’s stock.

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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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