Cowen (NASDAQ:COWN) Rating Lowered to Peer Perform at Wolfe Research

Cowen (NASDAQ:COWN – Get Rating) was downgraded by stock analysts at Wolfe Research to a “peer perform” rating in a research note issued on Tuesday, MarketBeat Ratings reports.

A number of other equities research analysts have also recently issued reports on the stock. TheStreet cut shares of Cowen from a “b-” rating to a “c” rating in a research note on Friday, April 29th. The Goldman Sachs Group reduced their price objective on shares of Cowen from $29.00 to $25.00 and set a “sell” rating on the stock in a report on Tuesday, April 12th. StockNews.com lowered shares of Cowen from a “hold” rating to a “sell” rating in a research note on Tuesday, July 12th. JMP Securities cut their price target on shares of Cowen from $62.00 to $59.00 and set a “market outperform” rating on the stock in a research note on Thursday, April 7th. Finally, Piper Sandler boosted their price objective on Cowen from $55.00 to $58.00 in a research report on Monday, May 2nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Cowen currently has an average rating of “Hold” and an average price target of $47.33.

Cowen Stock Performance

COWN opened at $38.50 on Tuesday. The firm has a market capitalization of $1.07 billion, a PE ratio of 7.05 and a beta of 1.63. Cowen has a 12-month low of $21.36 and a 12-month high of $40.86. The firm has a 50 day moving average of $28.34 and a two-hundred day moving average of $27.59. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.19.

Institutional Trading of Cowen

Large investors have recently bought and sold shares of the company. Retirement Group LLC acquired a new stake in shares of Cowen during the first quarter valued at $27,000. Copeland Capital Management LLC raised its holdings in shares of Cowen by 57.2% in the 2nd quarter. Copeland Capital Management LLC now owns 1,242 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 452 shares during the period. Maverick Capital Ltd. purchased a new position in shares of Cowen in the 4th quarter worth about $31,000. First Quadrant LLC CA purchased a new stake in shares of Cowen during the 1st quarter valued at about $35,000. Finally, Founders Capital Management raised its holdings in shares of Cowen by 66.7% during the 2nd quarter. Founders Capital Management now owns 1,500 shares of the financial services provider’s stock valued at $36,000 after buying an additional 600 shares during the period. Institutional investors and hedge funds own 89.63% of the company’s stock.

About Cowen

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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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