Cowen (NASDAQ:COWN) upgraded to buy by Zacks Investment Research

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Cowen (NASDAQ:COWNGet a rating) has been updated by Zacks Investment Research from a “strong sell” rating to a “buy” rating in a research note released Wednesday, Zacks.com reports. The company currently has a price target of $30.00 on shares of the financial services provider. Zacks Investment ResearchThe company’s target price indicates a potential upside of 16.32% from the company’s previous close.

According to Zacks, “COWEN GROUP, INC., through its operating subsidiaries, provides investment banking, equity research, sales and trading, asset management and investment management services. alternative assets to corporate and institutional investors in the healthcare, technology, telecommunications, aerospace and defense, consumer and alternative energy sectors.Cowen’s asset management business includes teams based in the US and UK Cowen’s US team focuses on a growth-oriented style of investing focused on small and mid-sized companies based primarily in North America. de Cowen offers traditional asset management products, focused on a global equity strategy.Cowen’s alternative asset management business consists of Cowen Healthcare Royalty Partners, which invests p primarily in commercial-stage biopharmaceuticals and products, and Cowen Capital Partners, which manages a portfolio of middle-market private equity investments for third-party investors. “

A number of other equity research analysts have also weighed in on the company recently. StockNews.com moved Cowen from a “hold” rating to a “sell” rating in a Wednesday, June 1 research note. Goldman Sachs Group cut its price target on Cowen from $29.00 to $25.00 and set a “sell” rating on the stock in a Tuesday, April 12 research report. Piper Sandler raised her price target on Cowen from $55.00 to $58.00 in a Monday, May 2 research report. JMP Securities lowered its price target on Cowen from $62.00 to $59.00 and set a “market outperformance” rating on the stock in a Thursday, April 7 research report. Finally, TheStreet upgraded Cowen from a “b-” to a “c” rating in a Friday, April 29 research report. Two investment analysts have rated the stock with a sell rating and three have assigned the stock a buy rating. According to data from MarketBeat.com, Cowen has a consensus rating of “Hold” and a consensus price target of $43.00.

Shares of NASDAQ COW traded down $0.91 in midday trading on Wednesday, hitting $25.79. 321,543 shares of the company were traded, against an average volume of 436,041. The company has a quick ratio of 0.71, a current ratio of 0.71 and a leverage ratio of 0.19. The stock has a market capitalization of $716.27 million, a price-earnings ratio of 4.72 and a beta of 1.44. Cowen has a 1-year low of $21.45 and a 1-year high of $44.07. The company has a 50-day moving average of $24.47 and a 200-day moving average of $29.60.

Cowen (NASDAQ:COWNGet a rating) last released its quarterly results on Friday, April 29. The financial services provider reported earnings per share (EPS) of $1.35 for the quarter, beating analyst consensus estimates of $0.61 by $0.74. The company posted revenue of $331.64 million for the quarter, versus a consensus estimate of $298.27 million. Cowen had a return on equity of 18.83% and a net margin of 10.97%. In the same quarter a year earlier, the company posted earnings of $4.34 per share. On average, stock analysts expect Cowen to post earnings per share of 5.53 for the current year.

Hedge funds have recently increased or reduced their stakes in the company. Retirement Group LLC acquired a new equity stake in Cowen during Q1 for $27,000. Maverick Capital Ltd. acquired a new equity stake in Cowen during the 4th quarter at a value of $31,000. First Quadrant LLC CA acquired a new equity stake in Cowen during Q1 for $35,000. Point72 Hong Kong Ltd acquired a new equity stake in Cowen during Q4 worth $37,000. Finally, Marshall Wace LLP acquired a new equity stake in Cowen during Q4 for $47,000. Institutional investors and hedge funds hold 89.63% of the company’s shares.

About Cowen (Get a rating)

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. United and in the world. It operates in two segments, Operating Company (Op Co) and Asset Company (Asset Co).

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