Bank of New York Mellon Corp reduced its stake in shares of Cowen Group Inc. (NASDAQ:COWN) by 0.7% during the second quarter, Holdings Channel reports. The fund owned 1,140,547 shares of the company’s stock after selling 7,727 shares during the period. Bank of New York Mellon Corp owned approximately 1.08% of Cowen Group worth $3,376,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of COWN. North Star Investment Management Corp. raised its stake in shares of Cowen Group by 30.5% in the second quarter. North Star Investment Management Corp. now owns 481,642 shares of the company’s stock valued at $1,426,000 after buying an additional 112,642 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its stake in Cowen Group by 0.7% in the first quarter. Metropolitan Life Insurance Co. NY now owns 78,777 shares of the company’s stock worth $300,000 after buying an additional 556 shares during the last quarter. Geode Capital Management LLC raised its stake in Cowen Group by 1.8% in the first quarter. Geode Capital Management LLC now owns 738,004 shares of the company’s stock worth $2,811,000 after buying an additional 12,951 shares during the last quarter. Mesirow Financial Investment Management US Value Equity bought a new stake in Cowen Group during the first quarter worth about $189,000. Finally, JPMorgan Chase & Co. raised its stake in Cowen Group by 2.4% in the first quarter. JPMorgan Chase & Co. now owns 1,782,029 shares of the company’s stock worth $6,789,000 after buying an additional 41,603 shares during the last quarter. Hedge funds and other institutional investors own 92.73% of the company’s stock.
Cowen Group Inc. (NASDAQ:COWN) traded up 4.91% during mid-day trading on Friday, hitting $3.63. The company had a trading volume of 1,401,515 shares. Cowen Group Inc. has a 52 week low of $2.47 and a 52 week high of $4.90. The firm’s 50 day moving average is $3.45 and its 200 day moving average is $3.38. The company’s market capitalization is $386.80 million.
Cowen Group (NASDAQ:COWN) last posted its quarterly earnings data on Thursday, July 28th. The company reported ($0.20) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by $0.12. Cowen Group had a net margin of 1.39% and a negative return on equity of 3.37%. The company had revenue of $117.23 million for the quarter, compared to the consensus estimate of $99.25 million. During the same period last year, the business earned $0.05 EPS. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. On average, equities research analysts predict that Cowen Group Inc. will post ($0.13) EPS for the current year.
Separately, TheStreet lowered Cowen Group from a “buy” rating to a “hold” rating in a research note on Friday, June 3rd.
Cowen Group Company Profile
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 hedge funds, private equity structures, registered investment companies and listed investment vehicles.
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