Ocwen (OCN) Receives $3.25 Average Price Target from Analysts

Shares of Ocwen (NYSE:OCN) have earned a consensus rating of “Hold” from the six brokerages that are currently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation. The average 1 year price target among brokerages that have covered the stock in the last year is $3.25.

Separately, ValuEngine upgraded Ocwen from a “sell” rating to a “hold” rating in a report on Saturday.

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In other news, major shareholder Leon G. Cooperman bought 445,759 shares of Ocwen stock in a transaction that occurred on Monday, February 5th. The shares were purchased at an average price of $3.20 per share, for a total transaction of $1,426,428.80. Following the completion of the acquisition, the insider now owns 1,000,000 shares of the company’s stock, valued at $3,200,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Leon G. Cooperman bought 494,459 shares of Ocwen stock in a transaction that occurred on Tuesday, January 23rd. The stock was purchased at an average price of $3.16 per share, for a total transaction of $1,562,490.44. The disclosure for this purchase can be found here. Insiders purchased 1,517,551 shares of company stock worth $4,985,671 in the last quarter. 2.36% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of OCN. Teacher Retirement System of Texas purchased a new position in Ocwen in the fourth quarter valued at about $111,000. Jefferies Group LLC purchased a new position in Ocwen in the fourth quarter valued at about $115,000. Voya Investment Management LLC raised its position in Ocwen by 17.1% in the second quarter. Voya Investment Management LLC now owns 54,338 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 7,936 shares during the period. KBC Group NV purchased a new position in Ocwen in the fourth quarter valued at about $238,000. Finally, The Manufacturers Life Insurance Company raised its position in Ocwen by 10.2% in 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 purchasing an additional 8,186 shares during the period. Hedge funds and other institutional investors own 52.20% of the company’s stock.

Ocwen (NYSE:OCN) traded down $0.07 during mid-day trading on Friday, hitting $4.29. The stock had a trading volume of 683,222 shares, compared to its average volume of 1,648,269. Ocwen has a 1-year low of $2.12 and a 1-year high of $5.69. The company has a debt-to-equity ratio of 11.13, a quick ratio of 5.42 and a current ratio of 5.42.

Ocwen (NYSE:OCN) last issued its earnings results on Wednesday, February 28th. The financial services provider reported ($0.09) earnings per share for the quarter, beating the Zacks’ 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 last year, the firm earned ($0.08) earnings per share. The firm’s revenue for the quarter was down 14.6% compared to the same quarter last year. equities research analysts predict that Ocwen will post -0.85 EPS for the current fiscal year.

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Ocwen Company Profile

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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