[Business Wire] Cowen Group Inc (NASDAQ:COWN)(TREND ANALYSIS) won the Hedgeweek USA Award 2015 for “Best North American Prime Broker.” This is the second time the firm received this distinction this year, having won it at the Hedgeweek Global Awards earlier this year. It also extends the string of similar awards earned from Hedgeweek in recent years.
Jack D. Seibald, Managing Director and Global Co-head of Prime Brokerage Services said, “We are honored for this recognition by Hedgeweek readers for our prime brokerage capabilities. As our clients’ trusted partner, we take our responsibility very seriously. We provide robust custody, execution and clearing, portfolio management and reporting, and operational support solutions so that clients can focus on what they do best: make investments and produce long-term outperformance.”
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Cowen Group Inc (NASDAQ:COWN) stock is currently trading 29.29% below its 52-week-high, 32.39% above its 52-week-low. The 1-year stock price history is in the range of $3.52 – $6.59. Cowen Group Inc (COWN) has a price to earnings ratio of 3.21 versus Financial sector average of 16.27. COWN stock price has underperformed the Nasdaq by 2.8%. The Diversified Finan Services company is currently valued at $0.51 billion and its share price closed the last trading session at $4.66. The stock has a 50-day moving average of $5.18 and a 200-day moving average of $5.66.
Cowen Group Inc (COWN) current short interest stands at 13.9 million shares. It has increased by 1% from the same period of last month. Around 15% of the company’s shares, which are float, are short sold. With a 10-days average volume of 1.06 million shares, the number of days required to cover the short positions stand at 13.1 days.
The company is expected to announce next quarter earnings on November 05, at consensus estimate of $0.12. Cowen Group Inc (COWN) reported last quarter earnings on July 30. The Diversified Finan Services company announced earnings per share of $0.09 against a consensus Street estimate of $0.08, beating the average estimate by $0.01. This corresponds to an increase of $0.01 compared to the same quarter of the previous fiscal year.
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There are currently four analysts that cover Cowen Group Inc stock. Of those four, two have a Buy rating, two have a Hold rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $6.49.
A recent analyst activity consisted of Sandler O’Neill downgrading their Buy rating to Hold on July 20. Sandler O’Neill set their price target at $6.75. This corresponds to a 44.85% upside from the last closing price. On the date of report, the stock closed at $6.03.
Jefferies reiterated their Market Outperform stance on May 27, and increased their price target on COWN stock from $6 to $6.25. This corresponds to a 34.12% upside from the last closing price. On the date of report, the stock closed at $5.91.
Another research firm was Keefe Bruyette& Woods who reiterated their Outperform stance on May 1. Keefe Bruyette& Woods increased their price target on Cowen Group Inc from $5.9 to $6.4. This translates to a 37.34% upside from the last closing price. On the date of report, the stock closed at $5.75.
Cowen Group, Inc. is a diversified financial services firm. The Company provides alternative investment management, investment banking, research, and sales and trading services. Cowen Group specializes in the healthcare, technology, media, telecommunications, consumer, metal and mining, energy, aerospace, defense and transportation industries around the world.