Ocwen Financial Corp (OCN) Stake Lifted by Bridgeway Capital Management Inc.

Bridgeway Capital Management Inc. grew its holdings in Ocwen Financial Corp (NYSE:OCN) by 13.6% during the third quarter, Holdings Channel reports. The fund owned 1,525,100 shares of the financial services provider’s stock after purchasing an additional 183,000 shares during the period. Bridgeway Capital Management Inc.’s holdings in Ocwen Financial were worth $6,009,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Renaissance Technologies LLC increased its holdings in shares of Ocwen Financial by 37.7% in the 2nd quarter. Renaissance Technologies LLC now owns 2,147,333 shares of the financial services provider’s stock valued at $8,503,000 after acquiring an additional 587,800 shares during the last quarter. KBC Group NV purchased a new position in shares of Ocwen Financial in the 2nd quarter valued at about $272,000. Prescott Group Capital Management L.L.C. purchased a new position in shares of Ocwen Financial in the 2nd quarter valued at about $1,414,000. GSA Capital Partners LLP purchased a new position in shares of Ocwen Financial in the 2nd quarter valued at about $416,000. Finally, BlackRock Inc. increased its holdings in shares of Ocwen Financial by 20.9% in the 2nd quarter. BlackRock Inc. now owns 8,319,364 shares of the financial services provider’s stock valued at $32,946,000 after acquiring an additional 1,436,871 shares during the last quarter. Institutional investors and hedge funds own 61.44% of the company’s stock.

A number of research analysts have recently commented on OCN shares. ValuEngine upgraded Ocwen Financial from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Keefe, Bruyette & Woods restated a “hold” rating and set a $4.00 price target on shares of Ocwen Financial in a research note on Thursday, November 8th. Finally, BTIG Research assumed coverage on Ocwen Financial in a research note on Thursday. They set a “neutral” rating on the stock.

NYSE:OCN opened at $2.11 on Friday. The company has a debt-to-equity ratio of 11.76, a current ratio of 8.31 and a quick ratio of 8.31. Ocwen Financial Corp has a 52-week low of $2.02 and a 52-week high of $4.84.

Ocwen Financial (NYSE:OCN) last released its quarterly earnings results on Tuesday, November 6th. The financial services provider reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.15). The firm had revenue of $238.30 million for the quarter, compared to analysts’ expectations of $241.00 million. Ocwen Financial had a negative return on equity of 13.76% and a negative net margin of 10.97%. The company’s quarterly revenue was down 16.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.05) EPS.

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About Ocwen Financial

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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Institutional Ownership by Quarter for Ocwen Financial (NYSE:OCN)

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