Cqs Cayman Lp Lowers stake in Ocwen Financial Corp (OCN)

Ocwen Financial Corp (OCN) : Cqs Cayman Lp reduced its stake in Ocwen Financial Corp by 1.24% during the most recent quarter end. The investment management company now holds a total of 1,325,000 shares of Ocwen Financial Corp which is valued at $6,360,000 after selling 16,644 shares in Ocwen Financial Corp , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Ocwen Financial Corp makes up approximately 2.13% of Cqs Cayman Lp’s portfolio.

Other Hedge Funds, Including , Acrospire Investment Management boosted its stake in OCN in the latest quarter, The investment management firm added 16,600 additional shares and now holds a total of 17,563 shares of Ocwen Financial Corp which is valued at $84,654. Ocwen Financial Corp makes up approx 0.06% of Acrospire Investment Management’s portfolio. Checchi Capital Advisers sold out all of its stake in OCN during the most recent quarter. The investment firm sold 101 shares of OCN which is valued $487.California State Teachers Retirement System boosted its stake in OCN in the latest quarter, The investment management firm added 2,000 additional shares and now holds a total of 213,015 shares of Ocwen Financial Corp which is valued at $994,780.

Ocwen Financial Corp opened for trading at $5.08 and hit $5.1 on the upside on Monday, eventually ending the session at $5.06, with a gain of 0.20% or 0.01 points. The heightened volatility saw the trading volume jump to 28,74,492 shares. Company has a market cap of $627 M.

On the company’s financial health, Ocwen Financial Corp reported $0.08 EPS for the quarter, beating the analyst consensus estimate by $ 0.23 according to the earnings call on Oct 26, 2016. Analyst had a consensus of $-0.15. The company had revenue of $359.40 million for the quarter, compared to analysts expectations of $353.08 million. The company’s revenue was down -11.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.53 EPS.

Many Wall Street Analysts have commented on Ocwen Financial Corp. Ocwen Financial Corp was Downgraded by Piper Jaffray to ” Underweight” on Oct 25, 2016.

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 Company’s 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 Company’s 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.

Leave a Reply

Ocwen Financial Corp - Is it time to Sell?

Top Brokerage Firms are advising their investors on Ocwen Financial Corp. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.