Quinn Opportunity Partners LLC increased its holdings in shares of Ocwen Financial Corporation (NYSE:OCN) by 3.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,653 shares of the financial services provider’s stock after buying an additional 2,100 shares during the period. Quinn Opportunity Partners LLC’s holdings in Ocwen Financial Corporation were worth $160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Paloma Partners Management Co purchased a new position in shares of Ocwen Financial Corporation during the 1st quarter valued at approximately $104,000. BB&T Securities LLC raised its stake in Ocwen Financial Corporation by 87.5% in the 1st quarter. BB&T Securities LLC now owns 22,500 shares of the financial services provider’s stock valued at $123,000 after purchasing an additional 10,500 shares during the last quarter. TFS Capital LLC raised its stake in Ocwen Financial Corporation by 106.9% in the 1st quarter. TFS Capital LLC now owns 24,249 shares of the financial services provider’s stock valued at $133,000 after purchasing an additional 12,528 shares during the last quarter. Stifel Financial Corp raised its stake in Ocwen Financial Corporation by 15.4% in the 1st quarter. Stifel Financial Corp now owns 45,699 shares of the financial services provider’s stock valued at $248,000 after purchasing an additional 6,099 shares during the last quarter. Finally, American International Group Inc. raised its stake in Ocwen Financial Corporation by 7.1% in the 1st quarter. American International Group Inc. now owns 61,957 shares of the financial services provider’s stock valued at $339,000 after purchasing an additional 4,088 shares during the last quarter. Hedge funds and other institutional investors own 48.48% of the company’s stock.
Shares of Ocwen Financial Corporation (NYSE:OCN) traded down 0.99% during midday trading on Friday, hitting $2.99. The stock had a trading volume of 224,483 shares. The stock has a 50 day moving average of $2.88 and a 200-day moving average of $3.33. The company’s market cap is $391.27 million. Ocwen Financial Corporation has a one year low of $2.12 and a one year high of $6.15.
Ocwen Financial Corporation (NYSE:OCN) last issued its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported ($0.36) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.17). The business had revenue of $311.30 million during the quarter, compared to analysts’ expectations of $295.33 million. Ocwen Financial Corporation had a negative net margin of 5.95% and a negative return on equity of 12.41%. The company’s revenue for the quarter was down 16.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.71) EPS. Analysts forecast that Ocwen Financial Corporation will post ($0.87) EPS for the current fiscal year.
Several research analysts recently commented on OCN shares. Zacks Investment Research downgraded Ocwen Financial Corporation from a “buy” rating to a “hold” rating in a research note on Monday, June 5th. ValuEngine raised Ocwen Financial Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. BidaskClub upgraded Ocwen Financial Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 12th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $3.00 price target on shares of Ocwen Financial Corporation in a report on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $3.25.
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Ocwen Financial Corporation Profile
Ocwen Financial Corporation is a financial services holding company. The Company, through its subsidiaries, originates and services loans. The Company’s segments include Servicing, Lending, and Corporate Items and Other. The Company’s Servicing segment consists of its residential servicing business. The Company’s Lending segment is focused on originating and purchasing conventional and government-insured residential forward and reverse mortgage loans.
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