The Ocwen Financial Corporation (OCN) Short Interest Up 19.9% in December

The Ocwen Financial Corporation (OCN) Short Interest Up 19.9% in December

Ocwen Financial Corporation (NYSE:OCN) saw a large growth in short interest in the month of December. As of December 30th, there was short interest totalling 15,858,783 shares, a growth of 19.9% from the December 15th total of 13,222,472 shares. Approximately 16.8% of the shares of the company are sold short. Based on an average trading volume of 2,478,736 shares, the days-to-cover ratio is currently 6.4 days.

OCN has been the subject of a number of research reports. Zacks Investment Research downgraded Ocwen Financial Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, December 28th. Compass Point reissued a “neutral” rating on shares of Ocwen Financial Corporation in a report on Thursday, January 12th. CL King cut Ocwen Financial Corporation from a “buy” rating to a “neutral” rating in a report on Thursday, October 27th. Finally, Piper Jaffray Cos. cut Ocwen Financial Corporation from a “neutral” rating to an “underweight” rating and set a $2.00 target price for the company. in a report on Tuesday, October 25th. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and an average target price of $3.21.

Large investors have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Ocwen Financial Corporation by 2.1% in the third quarter. BlackRock Inc. now owns 48,952 shares of the company’s stock worth $180,000 after buying an additional 1,007 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of Ocwen Financial Corporation by 0.9% in the third quarter. California State Teachers Retirement System now owns 213,015 shares of the company’s stock worth $782,000 after buying an additional 2,000 shares in the last quarter. BlackRock Advisors LLC boosted its stake in shares of Ocwen Financial Corporation by 25.7% in the second quarter. BlackRock Advisors LLC now owns 62,534 shares of the company’s stock worth $107,000 after buying an additional 12,788 shares in the last quarter. Nationwide Fund Advisors boosted its stake in shares of Ocwen Financial Corporation by 3.6% in the second quarter. Nationwide Fund Advisors now owns 468,516 shares of the company’s stock worth $801,000 after buying an additional 16,400 shares in the last quarter. Finally, Pacific Ridge Capital Partners LLC boosted its stake in shares of Ocwen Financial Corporation by 14.2% in the third quarter. Pacific Ridge Capital Partners LLC now owns 131,880 shares of the company’s stock worth $484,000 after buying an additional 16,430 shares in the last quarter. Institutional investors own 53.75% of the company’s stock.

Shares of Ocwen Financial Corporation (NYSE:OCN) opened at 4.90 on Friday. Ocwen Financial Corporation has a 12-month low of $1.29 and a 12-month high of $6.41. The company’s 50-day moving average price is $5.46 and its 200-day moving average price is $3.78. The firm’s market capitalization is $607.55 million.

Ocwen Financial Corporation (NYSE:OCN) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.40. Ocwen Financial Corporation had a negative return on equity of 25.54% and a negative net margin of 29.01%. The company earned $359.40 million during the quarter, compared to analysts’ expectations of $353.08 million. During the same quarter in the previous year, the company posted ($0.53) earnings per share. The business’s revenue was down 11.3% on a year-over-year basis. Analysts anticipate that Ocwen Financial Corporation will post ($1.46) EPS for the current year.

Ocwen Financial Corporation Company Profile

Ocwen Financial Corporation is a financial services holding company. The Company, through its subsidiaries, operates as a mortgage company. The Company’s segments include Servicing, Lending, and Corporate Items and Other. The Company’s Servicing segment consists of its core residential servicing business.

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