Ocwen Financial Co. (NYSE:OCN) Short Interest Down 15.7% in May

Ocwen Financial Co. (NYSE:OCNGet Rating) saw a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 465,000 shares, a drop of 15.7% from the May 15th total of 551,500 shares. Based on an average daily volume of 83,800 shares, the days-to-cover ratio is currently 5.5 days. Currently, 5.6% of the shares of the stock are sold short.

Shares of Ocwen Financial stock opened at $22.93 on Friday. Ocwen Financial has a 12 month low of $17.76 and a 12 month high of $41.92. The company has a quick ratio of 17.58, a current ratio of 17.58 and a debt-to-equity ratio of 16.12. The stock has a market cap of $212.10 million, a PE ratio of 3.30 and a beta of 1.92. The business has a fifty day simple moving average of $23.33 and a 200-day simple moving average of $29.78.

Ocwen Financial (NYSE:OCNGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.65. Ocwen Financial had a return on equity of 6.98% and a net margin of 6.30%. The firm had revenue of $231.56 million during the quarter, compared to the consensus estimate of $276.06 million. Analysts expect that Ocwen Financial will post 6.5 EPS for the current fiscal year.

In other Ocwen Financial news, EVP George T. Henley bought 1,980 shares of the company’s stock in a transaction that occurred on Wednesday, May 25th. The shares were acquired at an average cost of $25.28 per share, for a total transaction of $50,054.40. Following the acquisition, the executive vice president now directly owns 3,666 shares of the company’s stock, valued at $92,676.48. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Glen A. Messina bought 3,000 shares of Ocwen Financial stock in a transaction that occurred on Tuesday, May 24th. The shares were acquired at an average price of $26.18 per share, with a total value of $78,540.00. Following the completion of the acquisition, the chief executive officer now directly owns 116,074 shares of the company’s stock, valued at approximately $3,038,817.32. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 6,200 shares of company stock worth $162,727. 3.60% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the stock. Metropolitan Life Insurance Co NY purchased a new position in Ocwen Financial in the first quarter valued at about $78,000. Morgan Stanley lifted its holdings in shares of Ocwen Financial by 4,068.2% during the 2nd quarter. Morgan Stanley now owns 9,962 shares of the financial services provider’s stock valued at $309,000 after buying an additional 9,723 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Ocwen Financial by 107.4% in the 2nd quarter. Bank of America Corp DE now owns 8,869 shares of the financial services provider’s stock valued at $275,000 after buying an additional 4,593 shares in the last quarter. Citigroup Inc. grew its stake in shares of Ocwen Financial by 140.2% in the 3rd quarter. Citigroup Inc. now owns 932 shares of the financial services provider’s stock valued at $26,000 after buying an additional 544 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Ocwen Financial by 3.2% in the third quarter. Dimensional Fund Advisors LP now owns 168,343 shares of the financial services provider’s stock worth $4,735,000 after buying an additional 5,209 shares during the last quarter. Institutional investors and hedge funds own 59.89% of the company’s stock.

A number of equities analysts recently issued reports on the company. StockNews.com began coverage on Ocwen Financial in a report on Thursday, March 31st. They issued a “hold” rating on the stock. BTIG Research began coverage on Ocwen Financial in a report on Wednesday, April 20th. They set a “neutral” rating on the stock. Finally, B. Riley decreased their target price on shares of Ocwen Financial from $56.00 to $50.00 in a report on Wednesday, March 16th.

Ocwen Financial Company Profile (Get Rating)

Ocwen Financial Corporation, a financial services company, originates and services mortgage loans in the United States, the United States Virgin Islands, India, and the Philippines. The company operates through Servicing and Originations segments. It provides commercial mortgage loan servicing, special servicing, and asset management services, as well as residential mortgage loan servicing, such as forward and reverse conventional, government-insured, and non-agency loans, including the reverse mortgage loans to owners of mortgage loans and foreclosed real estate.

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