Insider Buying: Ocwen Financial Corp (NYSE:OCN) Director Buys $249,712.75 in Stock

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Ocwen Financial Corp (NYSE:OCN) Director Robert J. Lipstein purchased 161,105 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $1.55 per share, for a total transaction of $249,712.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Ocwen Financial stock opened at $1.39 on Friday. The company has a debt-to-equity ratio of 18.07, a quick ratio of 9.87 and a current ratio of 9.87. Ocwen Financial Corp has a 1 year low of $1.20 and a 1 year high of $4.35. The firm’s 50 day moving average price is $1.92 and its two-hundred day moving average price is $1.86.

Ocwen Financial (NYSE:OCN) last posted its quarterly earnings results on Tuesday, August 6th. The financial services provider reported ($0.67) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.36) by ($0.31). The business had revenue of $274.34 million during the quarter, compared to analyst estimates of $288.00 million. Ocwen Financial had a negative return on equity of 35.88% and a negative net margin of 15.76%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.22) EPS.

Institutional investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC acquired a new position in Ocwen Financial in the second quarter worth approximately $33,000. Public Employees Retirement System of Ohio grew its position in Ocwen Financial by 26.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 28,872 shares of the financial services provider’s stock worth $39,000 after buying an additional 6,099 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Ocwen Financial by 89.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 30,143 shares of the financial services provider’s stock worth $55,000 after purchasing an additional 14,232 shares during the period. Sigma Planning Corp acquired a new position in Ocwen Financial in the 1st quarter worth approximately $65,000. Finally, JPMorgan Chase & Co. boosted its stake in Ocwen Financial by 32.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 37,958 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 9,285 shares during the period. Hedge funds and other institutional investors own 57.24% of the company’s stock.

Separately, ValuEngine upgraded shares of Ocwen Financial from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st.

About Ocwen Financial

Ocwen Financial Corporation, a financial services holding company, originates and services loans in the United States, the United States Virgin Islands, India, and Philippines. Its Servicing segment provides residential and commercial mortgage loan servicing, special servicing, and asset management services to owners of mortgage loans and foreclosed real estate.

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Insider Buying and Selling by Quarter for Ocwen Financial (NYSE:OCN)

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