Cowen (NASDAQ:COWN) Sets New 12-Month Low at $21.39

Cowen Inc. (NASDAQ:COWNGet Rating) hit a new 52-week low during trading on Thursday . The company traded as low as $21.39 and last traded at $21.59, with a volume of 5935 shares trading hands. The stock had previously closed at $22.88.

COWN has been the subject of a number of recent research reports. The Goldman Sachs Group cut their price target on Cowen from $29.00 to $25.00 and set a “sell” rating for the company in a research note on Tuesday, April 12th. Piper Sandler lifted their price objective on shares of Cowen from $55.00 to $58.00 in a research note on Monday, May 2nd. TheStreet lowered Cowen from a “b-” rating to a “c” rating in a report on Friday, April 29th. JMP Securities reduced their price objective on shares of Cowen from $62.00 to $59.00 and set a “market outperform” rating for the company in a research note on Thursday, April 7th. Finally, StockNews.com raised shares of Cowen from a “sell” rating to a “hold” rating in a report on Thursday, June 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $47.33.

The company has a 50-day simple moving average of $24.19 and a 200-day simple moving average of $29.09. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market cap of $620.73 million, a P/E ratio of 4.13 and a beta of 1.44.

Cowen (NASDAQ:COWNGet Rating) last issued its earnings results on Friday, April 29th. The financial services provider reported $1.35 EPS for the quarter, beating the consensus estimate of $0.61 by $0.74. Cowen had a net margin of 10.97% and a return on equity of 18.83%. The company had revenue of $331.64 million during the quarter, compared to analysts’ expectations of $298.27 million. During the same quarter in the previous year, the company posted $4.34 EPS. As a group, sell-side analysts expect that Cowen Inc. will post 5.53 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Investors of record on Wednesday, June 1st were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Tuesday, May 31st. Cowen’s dividend payout ratio is currently 8.79%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Morgan Stanley raised its holdings in shares of Cowen by 16.3% during the second quarter. Morgan Stanley now owns 200,982 shares of the financial services provider’s stock worth $8,250,000 after acquiring an additional 28,190 shares during the period. Geode Capital Management LLC boosted its position in Cowen by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 508,519 shares of the financial services provider’s stock worth $17,447,000 after acquiring an additional 18,558 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Cowen by 3.1% in the third quarter. Dimensional Fund Advisors LP now owns 1,315,941 shares of the financial services provider’s stock valued at $45,151,000 after purchasing an additional 40,044 shares during the last quarter. Royal Bank of Canada boosted its holdings in Cowen by 24.0% during the third quarter. Royal Bank of Canada now owns 11,891 shares of the financial services provider’s stock worth $408,000 after purchasing an additional 2,300 shares during the last quarter. Finally, Man Group plc increased its stake in Cowen by 6.5% in the 3rd quarter. Man Group plc now owns 10,230 shares of the financial services provider’s stock valued at $351,000 after buying an additional 626 shares during the last quarter. 89.63% of the stock is currently owned by hedge funds and other institutional investors.

Cowen Company Profile (NASDAQ:COWN)

Cowen Inc, together with its subsidiaries, provides investment banking, research, sales and trading, prime brokerage, global clearing, securities financing, commission management, and investment management services in the United States and internationally. It operates in two segments, Operating Company (Op Co) and Asset Company (Asset Co).

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