Ocwen Financial Co. (NYSE:OCN - Get Free Report) was the recipient of a significant decline in short interest in March. As of March 31st, there was short interest totalling 32,500 shares, a decline of 30.6% from the March 15th total of 46,800 shares. Currently, 0.5% of the company's stock are sold short. Based on an average daily volume of 12,000 shares, the days-to-cover ratio is presently 2.7 days.
Ocwen Financial Stock Down 3.4 %
Shares of OCN traded down $0.82 during trading hours on Friday, hitting $23.58. 9,236 shares of the company were exchanged, compared to its average volume of 12,150. The firm's 50 day moving average is $26.49 and its 200-day moving average is $26.59. Ocwen Financial has a 52 week low of $21.15 and a 52 week high of $35.79. The company has a debt-to-equity ratio of 23.13, a quick ratio of 18.14 and a current ratio of 18.14.
Ocwen Financial (NYSE:OCN - Get Free Report) last announced its earnings results on Tuesday, February 27th. The financial services provider reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.35. Ocwen Financial had a positive return on equity of 10.21% and a negative net margin of 5.97%. The firm had revenue of $277.30 million during the quarter, compared to the consensus estimate of $260.23 million. As a group, equities analysts forecast that Ocwen Financial will post 5.58 EPS for the current year.
Institutional Trading of Ocwen Financial
Hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its holdings in Ocwen Financial by 3.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,843 shares of the financial services provider's stock valued at $393,000 after acquiring an additional 400 shares in the last quarter. Royal Bank of Canada raised its holdings in Ocwen Financial by 16.3% in the 2nd quarter. Royal Bank of Canada now owns 3,139 shares of the financial services provider's stock valued at $94,000 after acquiring an additional 439 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Ocwen Financial by 107.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,045 shares of the financial services provider's stock valued at $32,000 after acquiring an additional 541 shares in the last quarter. Rhumbline Advisers raised its holdings in Ocwen Financial by 9.5% in the 3rd quarter. Rhumbline Advisers now owns 7,677 shares of the financial services provider's stock valued at $199,000 after acquiring an additional 665 shares in the last quarter. Finally, Quantbot Technologies LP raised its holdings in Ocwen Financial by 82.7% in the 2nd quarter. Quantbot Technologies LP now owns 1,485 shares of the financial services provider's stock valued at $40,000 after acquiring an additional 672 shares in the last quarter. Institutional investors own 70.16% of the company's stock.
Analysts Set New Price Targets
OCN has been the topic of a number of recent research reports. B. Riley restated a "buy" rating and issued a $50.00 target price on shares of Ocwen Financial in a research note on Tuesday, March 26th. StockNews.com upgraded Ocwen Financial from a "sell" rating to a "hold" rating in a research note on Friday, December 15th. Finally, Keefe, Bruyette & Woods decreased their price target on Ocwen Financial from $30.00 to $28.00 and set a "market perform" rating for the company in a research note on Tuesday.
Read Our Latest Analysis on OCN
About Ocwen Financial
(
Get Free Report)
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. It operates through, Servicing and Originations segments. The company provides commercial forward mortgage loan servicing, reverse mortgage servicing, special servicing, and asset management services for to owners of mortgage loans and foreclosed real estate, as well as residential mortgage loan servicing, such as forward and reverse conventional, government-insured, and non-agency loans, including the reverse mortgage loans classified as loans.
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