Cowen (NASDAQ:COWN) Rating Lowered to Neutral at Piper Sandler

Cowen (NASDAQ:COWN – Get Rating) was downgraded by Piper Sandler from an “overweight” rating to a “neutral” rating in a research note issued to investors on Thursday, The Fly reports.

COWN has been the topic of several other research reports. Wolfe Research downgraded shares of Cowen from an “outperform” rating to a “peer perform” rating in a research note on Tuesday. TheStreet downgraded shares of Cowen from a “b-” rating to a “c” rating in a research report on Friday, April 29th. StockNews.com downgraded shares of Cowen from a “hold” rating to a “sell” rating in a research report on Tuesday, July 12th. JMP Securities downgraded shares of Cowen from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Finally, The Goldman Sachs Group cut their target price on shares of Cowen from $29.00 to $25.00 and set a “sell” rating on the stock in a research report on Tuesday, April 12th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $47.33.

Cowen Trading Up 0.2 %

COWN stock opened at $38.65 on Thursday. The company has a market capitalization of $1.07 billion, a PE ratio of 8.44 and a beta of 1.63. Cowen has a 12 month low of $21.36 and a 12 month high of $40.86. The firm’s 50-day moving average is $28.83 and its 200 day moving average is $27.65. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.71 and a quick ratio of 0.71.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Cowen by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 1,693,320 shares of the financial services provider’s stock worth $45,890,000 after buying an additional 27,976 shares during the last quarter. Millennium Management LLC boosted its stake in Cowen by 24.3% in the 4th quarter. Millennium Management LLC now owns 1,050,635 shares of the financial services provider’s stock worth $37,928,000 after purchasing an additional 205,191 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in Cowen by 0.9% in the 4th quarter. Nuveen Asset Management LLC now owns 889,901 shares of the financial services provider’s stock worth $32,125,000 after purchasing an additional 8,295 shares in the last quarter. Offit Capital Advisors LLC acquired a new stake in Cowen in the 1st quarter worth approximately $15,275,000. Finally, Phase 2 Partners LLC boosted its stake in Cowen by 0.4% in the 1st quarter. Phase 2 Partners LLC now owns 511,733 shares of the financial services provider’s stock worth $13,868,000 after purchasing an additional 2,032 shares in the last quarter. Hedge funds and other institutional investors own 89.63% of the company’s stock.

Cowen Company Profile

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Cowen Inc, together with its subsidiaries, provides investment banking, research, sales and trading, prime brokerage, global clearing, securities financing, commission management, and investment management services in the United States and internationally. It operates in two segments, Operating Company (Op Co) and Asset Company (Asset Co).