North Star Investment Management Corp. raised its stake in Cowen Group, Inc. (NASDAQ:COWN) by 70.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 271,307 shares of the financial services provider’s stock after buying an additional 112,065 shares during the period. North Star Investment Management Corp. owned about 1.00% of Cowen Group worth $4,409,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. California Public Employees Retirement System raised its position in shares of Cowen Group by 82.9% in the first quarter. California Public Employees Retirement System now owns 35,075 shares of the financial services provider’s stock valued at $524,000 after buying an additional 15,900 shares in the last quarter. FMR LLC raised its stake in Cowen Group by 34.9% in the first quarter. FMR LLC now owns 1,711,389 shares of the financial services provider’s stock valued at $25,586,000 after buying an additional 442,401 shares in the last quarter. American International Group Inc. raised its stake in Cowen Group by 7.2% in the first quarter. American International Group Inc. now owns 15,740 shares of the financial services provider’s stock valued at $235,000 after buying an additional 1,051 shares in the last quarter. Blair William & Co. IL raised its stake in Cowen Group by 6.9% in the first quarter. Blair William & Co. IL now owns 17,975 shares of the financial services provider’s stock valued at $269,000 after buying an additional 1,166 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in Cowen Group by 24.3% in the first quarter. SG Americas Securities LLC now owns 304,077 shares of the financial services provider’s stock valued at $4,546,000 after buying an additional 59,402 shares in the last quarter. Hedge funds and other institutional investors own 91.11% of the company’s stock.
Shares of Cowen Group, Inc. (NASDAQ:COWN) opened at 16.40 on Friday. Cowen Group, Inc. has a 1-year low of $11.60 and a 1-year high of $16.95. The company’s market capitalization is $445.26 million. The stock has a 50 day moving average price of $16.32 and a 200 day moving average price of $15.02.
Cowen Group (NASDAQ:COWN) last announced its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.39 EPS for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.12. The company had revenue of $171.90 million for the quarter, compared to analysts’ expectations of $169.54 million. Cowen Group had a net margin of 1.00% and a return on equity of 1.95%. Cowen Group’s revenue was up 113.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.11) EPS. Analysts forecast that Cowen Group, Inc. will post $1.10 earnings per share for the current year.
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Separately, BidaskClub lowered Cowen Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th.
In related news, major shareholder Peter A. Cohen sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, July 13th. The shares were sold at an average price of $0.31, for a total transaction of $31,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Peter A. Cohen sold 133,202 shares of the company’s stock in a transaction that occurred on Monday, July 10th. The shares were sold at an average price of $0.37, for a total transaction of $49,284.74. The disclosure for this sale can be found here. Insiders have sold a total of 1,049,914 shares of company stock worth $300,237 over the last 90 days. 4.90% of the stock is currently owned by corporate insiders.
About Cowen Group
Cowen Inc, formerly Cowen Group, Inc, is a financial services company. The Company provides alternative investment management, investment banking, research, sales and trading, and prime brokerage services. It operates through two segments: alternative investment and broker-dealer. The alternative investment segment includes private equity structures, registered investment companies and listed investment vehicles.
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