BBR Partners LLC bought a new position in shares of Cowen Inc (NASDAQ:COWN) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 144,455 shares of the financial services provider’s stock, valued at approximately $2,093,000. BBR Partners LLC owned approximately 0.49% of Cowen at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of COWN. Vanguard Group Inc. increased its stake in shares of Cowen by 0.6% in the third quarter. Vanguard Group Inc. now owns 1,240,359 shares of the financial services provider’s stock valued at $20,217,000 after buying an additional 7,280 shares during the period. Quantamental Technologies LLC bought a new stake in Cowen in the fourth quarter valued at approximately $64,000. Rhumbline Advisers boosted its holdings in Cowen by 44.1% in the fourth quarter. Rhumbline Advisers now owns 39,093 shares of the financial services provider’s stock valued at $522,000 after acquiring an additional 11,970 shares during the last quarter. Steinberg Global Asset Management bought a new stake in Cowen in the fourth quarter valued at approximately $610,000. Finally, Levin Capital Strategies L.P. bought a new stake in Cowen in the fourth quarter valued at approximately $2,573,000. 90.78% of the stock is owned by hedge funds and other institutional investors.
Separately, BidaskClub cut Cowen from a “hold” rating to a “sell” rating in a report on Thursday, May 9th.
Shares of COWN stock opened at $16.71 on Tuesday. Cowen Inc has a one year low of $11.80 and a one year high of $17.99. The company has a market capitalization of $478.11 million, a P/E ratio of 7.31 and a beta of 1.44. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.14.
Cowen (NASDAQ:COWN) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. The firm had revenue of $233.50 million for the quarter, compared to analysts’ expectations of $220.13 million. Cowen had a return on equity of 8.94% and a net margin of 3.91%. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.79 EPS.
Cowen Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides alternative investment management, investment banking, research, and sales and trading services for its clients. It manages separate client focused portfolio through its subsidiaries. Through its subsidiaries, the firm invests in equity and fixed income markets.
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