Janney Montgomery Scott LLC Sells 27,611 Shares of Cowen Inc. (NASDAQ:COWN)

Janney Montgomery Scott LLC lowered its stake in Cowen Inc. (NASDAQ:COWNGet Rating) by 70.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 11,856 shares of the financial services provider’s stock after selling 27,611 shares during the period. Janney Montgomery Scott LLC’s holdings in Cowen were worth $458,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Founders Capital Management increased its stake in shares of Cowen by 66.7% during the second 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. Nisa Investment Advisors LLC purchased a new position in shares of Cowen during the second quarter valued at approximately $38,000. Captrust Financial Advisors grew its stake in Cowen by 19.5% in the second quarter. Captrust Financial Advisors now owns 1,842 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 300 shares during the period. Acadian Asset Management LLC purchased a new stake in Cowen in the first quarter worth $78,000. Finally, Point72 Hong Kong Ltd grew its stake in Cowen by 188.0% in the first quarter. Point72 Hong Kong Ltd now owns 2,932 shares of the financial services provider’s stock worth $79,000 after purchasing an additional 1,914 shares during the period. 93.10% of the stock is owned by hedge funds and other institutional investors.

Cowen Price Performance

Shares of COWN stock opened at $38.87 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.41. The business’s fifty day moving average is $38.67 and its 200 day moving average is $37.92. Cowen Inc. has a twelve month low of $21.36 and a twelve month high of $38.90. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 10.04 and a beta of 1.40.

Cowen (NASDAQ:COWNGet Rating) last released its earnings results on Friday, October 28th. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.56 by $0.20. Cowen had a return on equity of 13.54% and a net margin of 7.94%. The business had revenue of $340.83 million for the quarter, compared to the consensus estimate of $285.74 million. Research analysts expect that Cowen Inc. will post 2.38 EPS for the current fiscal year.

Cowen Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.23%. The ex-dividend date was Wednesday, November 30th. Cowen’s dividend payout ratio (DPR) is 12.40%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Cowen from a “hold” rating to a “sell” rating in a research note on Tuesday, November 1st. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Cowen currently has an average rating of “Hold” and a consensus price target of $47.33.

Cowen Company Profile

(Get Rating)

Cowen, Inc engages in the provision of financial services. It operates through following the segments: Operating Company and Asset Company. The Operating Company segment consists of the Cowen Investment Management, Investment Banking, Markets, and Research divisions. The Asset Company segment consists of the firm’s private investments, private real estate investments, and other legacy investment strategies.

Further Reading

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Institutional Ownership by Quarter for Cowen (NASDAQ:COWN)

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