Ocwen Financial Corporation (OCN) : The value of composite uptick trades was $0.9 million, whereas, the value of composite downtick trades was $1.56 million. The uptick to downtick ratio stood at 0.58 with a negative money flow of ($0.66) Million during Tuesdays trading session. The block trades money flow was negative ($0.9 million).The uptick to the downtick ratio of 0.13 in block trades signals that the large investors have utilized the rise in the stock to sell.The uptick transaction value stood at $0.14 million. The transaction of the trades on downticks amounted to $1.03 million, which confirms investors selling on the strength of price. Ocwen Financial Corporation (OCN) gained 3 cents at $3.59, an increase of 0.84% over the previous days close.
Also, In a research note released to the investors, Keefe Bruyette & Woods maintains its rating on Ocwen Financial Corporation (NYSE:OCN).The analysts at the brokerage house have a current rating of Market Perform on the shares. In a recent information released to the investors, Keefe Bruyette & Woods lowers the new price target from $5 per share to $3 per share. The rating by the firm was issued on July 28, 2016.
Shares of Ocwen Financial Corp. rose by 9.67% in the last five trading days and 77.07% for the last 4 weeks. Ocwen Financial Corp. is up 80.6% in the last 3-month period. Year-to-Date the stock performance stands at -47.92%.
Ocwen Financial Corporation (NYSE:OCN): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $3.58 and $3.52 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $3.69. The buying momentum continued till the end and the stock did not give up its gains. It closed at $3.63, notching a gain of 1.97% for the day. The total traded volume was 3,524,092 . The stock had closed at $3.56 on the previous day.
In a related news, Kumbar Otto J, officer (EVP, Lending) of Ocwen Financial Corp, had purchased 50,000 shares on March 11, 2016. The total value of the transaction was $146,000. The information was disclosed with the SEC in a Form 4 Filing. The information is based on open market trades at the market prices.Option exercises are not covered.
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.