Ocwen Financial Co. (NYSE: OCN – Get a rating) was the target of strong short-term interest growth during the month of April. As of April 30, there were short interests totaling 378,200 shares, a growth of 39.9% from the total of 270,400 shares as of April 15. Currently, 4.6% of the company’s shares are sold short. Based on an average trading volume of 71,200 shares, the day-to-cover ratio is currently 5.3 days.
A number of large investors have recently bought and sold shares of OCN. Royal Bank of Canada increased its position in Ocwen Financial by 52.9% in the third quarter. Royal Bank of Canada now owns 887 shares of the financial services provider worth $25,000 after buying 307 more shares in the last quarter. Citigroup Inc. increased its position in Ocwen Financial by 140.2% in the third quarter. Citigroup Inc. now owns 932 shares of the financial services provider worth $26,000 after buying an additional 544 shares in the last quarter. Dorsey Wright & Associates acquired a new stake in Ocwen Financial in Q4 worth $54,000. Advisor Group Holdings Inc. increased its position in Ocwen Financial by 3,527.9% in Q4. Advisor Group Holdings Inc. now owns 1,560 shares of the financial services provider worth $63,000 after buying 1,517 additional shares in the last quarter. Finally, Metropolitan Life Insurance Co NY acquired a new stake in Ocwen Financial in the 1st quarter at a value of $78,000. Institutional investors and hedge funds hold 59.89% of the company’s shares.
A number of research companies have recently published reports on OCN. BTIG Research began covering Ocwen Financial in a research report on Wednesday April 20. They set a “neutral” rating for the company. Zacks Investment Research downgraded Ocwen Financial from a “hold” rating to a “strong sell” rating in a Saturday, March 19 research report. StockNews.com began covering Ocwen Financial in a research report on Thursday, March 31. They have set a “holding” rating on the stock. Finally, B. Riley reduced his target price on Ocwen Financial from $56.00 to $50.00 in a Wednesday, March 16 research report. One analyst rated the security with a sell rating, two assigned a hold rating and two assigned a buy rating. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $42.67.
Shares of OCN traded at $0.74 during Friday’s midday session, hitting $22.54. 79,673 shares of the company were traded, against an average volume of 118,637. The company has a fifty-day moving average of $22.54 and a two-hundred-day moving average of $31.03. Ocwen Financial has a 12-month low of $17.76 and a 12-month high of $41.92. The stock has a market capitalization of $208.50 million, a price-earnings ratio of 3.24 and a beta of 1.94. The company has a quick ratio of 17.58, a current ratio of 17.58 and a debt ratio of 16.12.
Ocwen Financial (NYSE:OCN- Get a rating) last released its results on Friday, February 25. The financial services provider reported ($0.20) earnings per share (EPS) for the quarter, missing analyst consensus estimates of $2.46 per ($2.66). Ocwen Financial had a net margin of 6.30% and a return on equity of 6.98%. The company posted revenue of $293.96 million in the quarter, against analyst estimates of $52.17 million. On average, stock analysts predict that Ocwen Financial will post earnings per share of 5.79 for the current year.
Ocwen Financial Company Profile (Get a rating)
Ocwen Financial Corporation, a financial services company, originates and services mortgages in the United States, the US Virgin Islands, India and the Philippines. The Company operates through Servicing and Originations segments. It provides commercial mortgage servicing services, special services and asset management, as well as residential mortgage services, such as conventional term and reverse, government-insured and agencyless loans, including reverse mortgages to mortgage owners. and seized real estate.
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