State Board of Administration of Florida Retirement System held its position in Cowen Group Inc. (NASDAQ:COWN) during the second quarter, Holdings Channel reports. The institutional investor owned 70,895 shares of the company’s stock at the end of the second quarter. State Board of Administration of Florida Retirement System owned about 0.07% of Cowen Group worth $210,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COWN. Emerald Acquisition Ltd. purchased a new position in Cowen Group during the second quarter worth $310,000. Mendon Capital Advisors Corp boosted its position in Cowen Group by 12.5% in the second quarter. Mendon Capital Advisors Corp now owns 3,764,469 shares of the company’s stock worth $11,143,000 after buying an additional 418,770 shares during the last quarter. RMB Capital Management LLC boosted its position in Cowen Group by 21.1% in the second quarter. RMB Capital Management LLC now owns 2,111,504 shares of the company’s stock worth $6,250,000 after buying an additional 368,315 shares during the last quarter. Societe Generale purchased a new position in Cowen Group during the second quarter worth $197,000. Finally, North Star Investment Management Corp. boosted its position in Cowen Group by 30.5% in the second quarter. North Star Investment Management Corp. now owns 481,642 shares of the company’s stock worth $1,426,000 after buying an additional 112,642 shares during the last quarter. 92.55% of the stock is owned by institutional investors.
Shares of Cowen Group Inc. (NASDAQ:COWN) traded up 2.8543% during mid-day trading on Wednesday, hitting $3.5999. 34,779 shares of the stock traded hands. The firm’s market cap is $383.59 million. The firm’s 50 day moving average price is $3.57 and its 200 day moving average price is $3.38. Cowen Group Inc. has a 12-month low of $2.47 and a 12-month high of $4.82.
Cowen Group (NASDAQ:COWN) last released its earnings results on Thursday, July 28th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by $0.12. Cowen Group had a negative return on equity of 3.37% and a net margin of 1.39%. The company earned $117.23 million during the quarter, compared to analyst estimates of $99.25 million. During the same period in the prior year, the business posted $0.05 earnings per share. Cowen Group’s revenue was down 2.0% on a year-over-year basis. On average, equities research analysts predict that Cowen Group Inc. will post ($0.12) EPS for the current fiscal year.
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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