Ocwen Financial (NYSE:OCN) Shares Pass Above Two Hundred Day Moving Average of $26.11

Ocwen Financial Co. (NYSE:OCNGet Rating)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $26.11 and traded as high as $28.80. Ocwen Financial shares last traded at $26.32, with a volume of 99,974 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Ocwen Financial from a “hold” rating to a “sell” rating in a report on Tuesday, September 13th.

Ocwen Financial Stock Down 7.5 %

The company has a current ratio of 17.97, a quick ratio of 17.97 and a debt-to-equity ratio of 15.93. The firm has a market cap of $219.61 million, a P/E ratio of 2.86 and a beta of 1.93. The stock’s fifty day moving average is $29.64 and its two-hundred day moving average is $26.11.

Hedge Funds Weigh In On Ocwen Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Oaktree Capital Management LP grew its stake in Ocwen Financial by 26.8% in the 4th quarter. Oaktree Capital Management LP now owns 756,870 shares of the financial services provider’s stock worth $30,252,000 after buying an additional 160,000 shares in the last quarter. Long Focus Capital Management LLC purchased a new stake in shares of Ocwen Financial in the 4th quarter valued at $16,095,000. Dimensional Fund Advisors LP boosted its stake in shares of Ocwen Financial by 11.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 206,281 shares of the financial services provider’s stock valued at $4,901,000 after purchasing an additional 21,471 shares in the last quarter. TCW Group Inc. boosted its stake in shares of Ocwen Financial by 7.0% in the 1st quarter. TCW Group Inc. now owns 202,468 shares of the financial services provider’s stock valued at $4,810,000 after purchasing an additional 13,249 shares in the last quarter. Finally, Cooper Creek Partners Management LLC boosted its stake in shares of Ocwen Financial by 30.8% in the 1st quarter. Cooper Creek Partners Management LLC now owns 159,798 shares of the financial services provider’s stock valued at $3,797,000 after purchasing an additional 37,651 shares in the last quarter. Hedge funds and other institutional investors own 55.71% of the company’s stock.

About Ocwen Financial

(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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