Acadian Asset Management LLC lessened its position in Ocwen Financial Co. (NYSE:OCN – Free Report) by 66.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 4,204 shares of the financial services provider’s stock after selling 8,408 shares during the period. Acadian Asset Management LLC’s holdings in Ocwen Financial were worth $124,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Captrust Financial Advisors acquired a new position in Ocwen Financial during the first quarter worth approximately $31,000. Quantbot Technologies LP increased its position in Ocwen Financial by 82.7% during the second quarter. Quantbot Technologies LP now owns 1,485 shares of the financial services provider’s stock worth $40,000 after purchasing an additional 672 shares during the last quarter. Wells Fargo & Company MN increased its position in Ocwen Financial by 3,196.0% during the fourth quarter. Wells Fargo & Company MN now owns 1,648 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 1,598 shares during the last quarter. State of Wyoming acquired a new position in Ocwen Financial during the fourth quarter worth approximately $56,000. Finally, American International Group Inc. acquired a new position in Ocwen Financial during the second quarter worth approximately $93,000. Institutional investors and hedge funds own 54.91% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts recently commented on OCN shares. Keefe, Bruyette & Woods dropped their price target on shares of Ocwen Financial from $35.00 to $30.00 in a research report on Monday, October 2nd. StockNews.com raised shares of Ocwen Financial from a “sell” rating to a “hold” rating in a research report on Thursday, November 16th.
Ocwen Financial Price Performance
Ocwen Financial stock opened at $26.64 on Tuesday. Ocwen Financial Co. has a 52-week low of $21.15 and a 52-week high of $36.97. The firm has a fifty day moving average of $24.47 and a 200-day moving average of $28.04. The firm has a market capitalization of $204.60 million, a P/E ratio of -2.46 and a beta of 2.10. The company has a quick ratio of 22.74, a current ratio of 22.74 and a debt-to-equity ratio of 21.54.
Ocwen Financial Profile
Ocwen Financial Corporation, a financial services company, originates and services mortgage loans in the United States, the United States Virgin Islands, India, and the Philippines. The company operates through Servicing and Originations segments. It provides commercial mortgage loan servicing, special servicing, and asset management services, as well as residential mortgage loan servicing, such as forward and reverse conventional, government-insured, and non-agency loans, including the reverse mortgage loans to owners of mortgage loans and foreclosed real estate.
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