In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Cowen Inc. (NASDAQ:COWN) reported that Convergex Holdings, Llc. has picked up 2,416,336 of common stock as of 2017-06-12.
The acquisition brings the aggregate amount owned by Convergex Holdings, Llc. to a total of 2,416,336 representing 7.92% stake in the company.
For those not familiar with the company, Cowen Inc., formerly Cowen Group, Inc., is a financial services company. The Company provides alternative investment management, investment banking, research, sales and trading, and prime brokerage services. It operates through two segments: alternative investment and broker-dealer. The alternative investment segment includes private equity structures, registered investment companies and listed investment vehicles. The broker-dealer segment offers industry focused investment banking for growth-oriented companies, including advisory and global capital markets origination and domain knowledge-driven research, and a sales and trading platform for institutional investors. Its alternative investment platform, which operates under the Ramius name, offers investment products and solutions across the liquidity spectrum to institutional and private clients. Ramius offers investors access to strategies to meet their specific needs, including long/short equity and event driven equity.
A glance at Cowen Inc. (NASDAQ:COWN) key stats reveals a current market capitalization of 520.94 Million based on 27.33 Million shares outstanding and a price at last close of $15.10 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2014-05-16, Solomon picked up 25,000 at a purchase price of $3.85. This brings their total holding to 1,820,933 as of the date of the filing.
On the sell side, the most recent transaction saw Holmes unload 35,000 shares at a sale price of $15.71. This brings their total holding to 121,256.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Cowen Inc. (NASDAQ:COWN) as things move forward to see if its progress aligns with these transactions.
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