Brokerages Set Cowen Inc (NASDAQ:COWN) PT at $19.00

Shares of Cowen Inc (NASDAQ:COWN) have been given a consensus recommendation of “Buy” by the seven analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $19.00.

COWN has been the subject of a number of research analyst reports. ValuEngine downgraded Cowen from a “hold” rating to a “sell” rating in a research report on Thursday, April 2nd. BidaskClub upgraded Cowen from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 6th. TheStreet downgraded Cowen from a “c-” rating to a “d+” rating in a research report on Monday, March 30th. JMP Securities dropped their target price on Cowen from $23.00 to $19.00 and set a “market outperform” rating for the company in a research report on Thursday, April 9th. Finally, Keefe, Bruyette & Woods began coverage on Cowen in a research report on Monday, June 22nd. They issued a “buy” rating and a $18.00 target price for the company.

A number of hedge funds have recently made changes to their positions in the business. Philadelphia Financial Management of San Francisco LLC increased its stake in shares of Cowen by 4.9% during the first quarter. Philadelphia Financial Management of San Francisco LLC now owns 1,978,181 shares of the financial services provider’s stock valued at $19,109,000 after buying an additional 93,196 shares during the period. Two Sigma Investments LP purchased a new position in shares of Cowen during the first quarter valued at approximately $412,000. Arbiter Partners Capital Management LLC increased its stake in shares of Cowen by 2.2% during the first quarter. Arbiter Partners Capital Management LLC now owns 1,700,751 shares of the financial services provider’s stock valued at $16,429,000 after buying an additional 36,571 shares during the period. Wells Fargo & Company MN increased its stake in shares of Cowen by 33.4% during the first quarter. Wells Fargo & Company MN now owns 64,007 shares of the financial services provider’s stock valued at $618,000 after buying an additional 16,012 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Cowen by 13.1% during the first quarter. Geode Capital Management LLC now owns 440,665 shares of the financial services provider’s stock valued at $4,256,000 after buying an additional 51,099 shares during the period. Hedge funds and other institutional investors own 88.48% of the company’s stock.

Shares of COWN traded up $0.41 during trading hours on Tuesday, reaching $16.21. 587,697 shares of the company’s stock traded hands, compared to its average volume of 349,856. The stock has a market cap of $428.89 million, a PE ratio of -162.08 and a beta of 1.50. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.19. The firm’s 50 day simple moving average is $13.71 and its 200-day simple moving average is $13.51. Cowen has a 12 month low of $5.75 and a 12 month high of $18.36.

Cowen (NASDAQ:COWN) last issued its quarterly earnings results on Wednesday, April 29th. The financial services provider reported ($0.24) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.38). The business had revenue of $210.92 million for the quarter, compared to the consensus estimate of $218.11 million. Cowen had a net margin of 0.45% and a return on equity of 4.97%. As a group, analysts expect that Cowen will post 1.91 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Monday, June 1st were given a $0.04 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.16 dividend on an annualized basis and a yield of 0.99%. Cowen’s payout ratio is 7.24%.

About Cowen

Cowen Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides alternative investment management, investment banking, research, and sales and trading services for its clients. It manages separate client focused portfolio through its subsidiaries. Through its subsidiaries, the firm invests in equity and fixed income markets.

Further Reading: Inflation

Receive News & Ratings for Cowen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cowen and related companies with MarketBeat.com's FREE daily email newsletter.