In a report issued on April 29, Devin Ryan from JMP Securities reiterated a Buy rating on Cowen Group (COWN – Research Report), with a price target of $60.00. The company’s shares closed last Friday at $22.85, close to its 52-week low of $21.45.
According to TipRanks.com, Ryan is a 5-star analyst with an average return of 16.7% and a 60.6% success rate. Ryan covers the Financial sector, focusing on stocks such as Sixth Street Specialty Lending, TriplePoint Venture Growth, and Pennantpark Floating Rate.
The word on The Street in general, suggests a Hold analyst consensus rating for Cowen Group with a $45.00 average price target.
Based on Cowen Group’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $494 million and net profit of $64.98 million. In comparison, last year the company earned revenue of $592 million and had a net profit of $92.17 million.
Based on the recent corporate insider activity of 41 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of COWN in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Cowen, Inc. is a financial services company, which provides alternative investment management, investment banking, research, and sales, and trading services. It operates through following the segments: Investment Management and Investment Bank. The Investment segment includes advisers to investment funds, managed accounts, registered funds and a significant portion of the company’s proprietary capital. The Investment Bank segment offers industry focused investment banking for growth-oriented companies including advisory and global capital markets origination and domain knowledge-driven research, sales and trading platform for institutional investors, global clearing and commission management services and also a comprehensive suite of prime brokerage services. The company was founded in 1918 and is headquartered in New York, NY.
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