Ocwen Financial Corporation (NYSE:OCN), A increase of 50,990 shares or 0.7% was observed in the short interest of Ocwen Financial The interest on June 15,2016 came in at 7,674,389 shares and as per the average daily trading of 1,995,235 shares, the days to cover are 4. The increased interest is 8.1% of the floated shares. The data of May 31,2016 put the interest at 7,623,399 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Ocwen Financial Corporation (NYSE:OCN): The stock opened at $1.63 on Friday but the bulls could not build on the opening and the stock topped out at $1.70 for the day. The stock traded down to $1.60 during the day, due to lack of any buying support eventually closed down at $1.70 with a loss of -2.30% for the day. The stock had closed at $1.74 on the previous day. The total traded volume was 2,943,153 shares.
The company shares have dropped -83.27% from its 1 Year high price. On Jul 30, 2015, the shares registered one year high at $11.82 and the one year low was seen on May 20, 2016. The 50-Day Moving Average price is $1.84 and the 200 Day Moving Average price is recorded at $3.76.
Stocks of Ocwen Financial Corporation (NYSE:OCN) rallied by 7.59% during the past week but lost 14.14% on a 4-week basis. The company has outperformed the S&P 500 by 9.38% in the past week but underperformed the index by 11.54% in the last 4 weeks.
Ocwen Financial Corporation (Ocwen) is a financial services holding company. The Company, through its subsidiaries operates as a mortgage company. The Company operates in segments, including Servicing and Lending. The Companys Servicing business consists of its residential mortgage servicing business. The Servicing involves the collection and remittance of principal and interest payments received from borrowers, the administration of mortgage escrow accounts, the collection of insurance claims, the management of loans that are delinquent or in foreclosure or bankruptcy. In the Companys Lending business, it originates and purchases conventional and government-insured forward mortgage loans through the direct, wholesale and correspondent lending channels of its Homeward operations.