Schwab Charles Investment Management Inc. boosted its holdings in Ocwen (NYSE:OCN) by 11.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,439,702 shares of the financial services provider’s stock after purchasing an additional 146,735 shares during the period. Schwab Charles Investment Management Inc. owned about 1.10% of Ocwen worth $4,507,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of OCN. Voya Investment Management LLC raised its stake in Ocwen by 17.1% during the second quarter. Voya Investment Management LLC now owns 54,338 shares of the financial services provider’s stock valued at $146,000 after buying an additional 7,936 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Ocwen by 10.2% during the second quarter. The Manufacturers Life Insurance Company now owns 88,317 shares of the financial services provider’s stock valued at $238,000 after buying an additional 8,186 shares in the last quarter. Wells Fargo & Company MN raised its stake in Ocwen by 53.4% during the third quarter. Wells Fargo & Company MN now owns 117,498 shares of the financial services provider’s stock valued at $404,000 after buying an additional 40,919 shares in the last quarter. State Street Corp raised its stake in Ocwen by 5.3% during the second quarter. State Street Corp now owns 1,962,268 shares of the financial services provider’s stock valued at $5,275,000 after buying an additional 98,624 shares in the last quarter. Finally, California Public Employees Retirement System raised its stake in Ocwen by 33.2% during the third quarter. California Public Employees Retirement System now owns 762,182 shares of the financial services provider’s stock valued at $2,622,000 after buying an additional 190,082 shares in the last quarter. 52.20% of the stock is owned by hedge funds and other institutional investors.
Shares of Ocwen (NYSE:OCN) opened at $4.45 on Friday. Ocwen has a one year low of $2.12 and a one year high of $5.69. The stock has a market capitalization of $576.11, a P/E ratio of -4.41 and a beta of 1.31. The company has a current ratio of 5.42, a quick ratio of 5.42 and a debt-to-equity ratio of 11.13.
Ocwen (NYSE:OCN) last announced its quarterly earnings data on Wednesday, February 28th. The financial services provider reported ($0.09) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.23) by $0.14. Ocwen had a negative return on equity of 20.31% and a negative net margin of 10.71%. The firm had revenue of $276.77 million for the quarter, compared to analysts’ expectations of $250.00 million. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. Ocwen’s revenue for the quarter was down 14.6% compared to the same quarter last year. equities research analysts expect that Ocwen will post -0.85 EPS for the current fiscal year.
Separately, ValuEngine upgraded Ocwen from a “sell” rating to a “hold” rating in a research note on Saturday. Six research analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and a consensus target price of $3.33.
In other news, major shareholder Leon G. Cooperman acquired 494,459 shares of the business’s stock in a transaction on Tuesday, January 23rd. The shares were purchased at an average price of $3.16 per share, for a total transaction of $1,562,490.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Leon G. Cooperman purchased 29,187 shares of the company’s stock in a transaction dated Friday, March 2nd. The shares were bought at an average price of $3.54 per share, for a total transaction of $103,321.98. Following the completion of the transaction, the insider now directly owns 1,000,000 shares in the company, valued at approximately $3,540,000. The disclosure for this purchase can be found here. Insiders have acquired 1,517,551 shares of company stock worth $4,985,671 in the last 90 days. 2.36% of the stock is currently owned by insiders.
Ocwen Financial Corporation, a financial services holding company, originates and services loans in the United States, the United States Virgin Islands, India, and Philippines. Its Servicing segment provides residential and commercial mortgage loan servicing, special servicing, and asset management services to owners of mortgage loans and foreclosed real estate.
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