Notable Reporting: What’s Ocwen Financial Corp Upside After Today’s Significant Increase?

Notable Reporting: What's Ocwen Financial Corp Upside After Today's Significant Increase?

The stock of Ocwen Financial Corp (NYSE:OCN) is a huge mover today! About 1.61 million shares traded hands. Ocwen Financial Corp (NYSE:OCN) has risen 30.29% since March 15, 2016 and is uptrending. It has outperformed by 24.81% the S&P500.
The move comes after 9 months positive chart setup for the $473.91M company. It was reported on Oct, 18 by Barchart.com. We have $7.84 PT which if reached, will make NYSE:OCN worth $469.17M more.

Analysts await Ocwen Financial Corp (NYSE:OCN) to report earnings on October, 26. They expect $-0.42 earnings per share, up 20.75% or $0.11 from last year’s $-0.53 per share. After $-0.02 actual earnings per share reported by Ocwen Financial Corp for the previous quarter, Wall Street now forecasts 2,000.00% negative EPS growth.

Ocwen Financial Corp (NYSE:OCN) Ratings Coverage

Out of 8 analysts covering Ocwen Financial (NYSE:OCN), 1 rate it a “Buy”, 1 “Sell”, while 6 “Hold”. This means 13% are positive. Ocwen Financial has been the topic of 16 analyst reports since July 31, 2015 according to StockzIntelligence Inc. Compass Point maintained Ocwen Financial Corp (NYSE:OCN) on Thursday, April 28 with “Neutral” rating. Compass Point maintained the stock with “Sell” rating in Tuesday, August 4 report. On Tuesday, March 29 the stock rating was maintained by Citigroup with “Neutral”. The stock of Ocwen Financial Corp (NYSE:OCN) has “Strong-Buy” rating given on Wednesday, September 2 by Vetr. The stock of Ocwen Financial Corp (NYSE:OCN) has “Neutral” rating given on Wednesday, August 26 by Compass Point. As per Friday, August 28, the company rating was downgraded by Vetr. The rating was maintained by Compass Point with “Neutral” on Thursday, December 3. As per Thursday, August 6, the company rating was downgraded by Zacks. The stock has “Buy” rating given by Compass Point on Wednesday, September 14. Oppenheimer maintained Ocwen Financial Corp (NYSE:OCN) on Friday, August 7 with “Market Perform” rating.

According to Zacks Investment Research, “Ocwen Financial Corporation is a financial services holding company engaged in asset acquisition and resolution, residential finance, commercial finance, investment management and hotel operations. The Company primarily specializes in the aquisition and resolution of non-performing or underperforming loans.”

Insitutional Activity: The institutional sentiment decreased to 0.67 in 2016 Q2. Its down 0.14, from 0.81 in 2016Q1. The ratio dropped, as 28 funds sold all Ocwen Financial Corp shares owned while 42 reduced positions. 11 funds bought stakes while 36 increased positions. They now own 72.59 million shares or 12.47% less from 82.94 million shares in 2016Q1.
Manufacturers Life Ins Co The reported 77,845 shares or 0% of all its holdings. Nomura Holding holds 0% of its portfolio in Ocwen Financial Corp (NYSE:OCN) for 362,400 shares. Checchi Cap Advisers Ltd Limited Liability Company has 0% invested in the company for 101 shares. Barclays Public Limited Co accumulated 0% or 190,026 shares. Legal And General Group Public Ltd Com holds 49,581 shares or 0% of its portfolio. Moreover, Morgan Stanley has 0% invested in Ocwen Financial Corp (NYSE:OCN) for 223,619 shares. Raging Capital Management Lc owns 819,800 shares or 0.22% of their US portfolio. Voya Mgmt Limited Com accumulated 0% or 46,402 shares. Dimensional Fund Lp has 0% invested in the company for 424,757 shares. Moreover, Horizon Kinetics Limited Co has 0.01% invested in Ocwen Financial Corp (NYSE:OCN) for 263,593 shares. The New York-based Jefferies Gp Ltd Liability has invested 0% in Ocwen Financial Corp (NYSE:OCN). Royal State Bank Of Canada reported 820 shares or 0% of all its holdings. Moreover, Edge Wealth Mgmt Ltd Liability Com has 0% invested in Ocwen Financial Corp (NYSE:OCN) for 6,000 shares. First Quadrant Limited Partnership Ca has 0.02% invested in the company for 481,600 shares. Credit Suisse Ag reported 244,804 shares or 0% of all its holdings.

Insider Transactions: Since April 28, 2016, the stock had 0 buys, and 1 sale for $565,300 net activity. KINGSTOWN CAPITAL PARTNERS – LLC sold 250,000 shares worth $565,300.

Another recent and important Ocwen Financial Corp (NYSE:OCN) news was published by Seekingalpha.com which published an article titled: “John Devaney Is Spot On Regarding Ocwen” on October 18, 2016.

OCN Company Profile

Ocwen Financial Corporation, incorporated on August 22, 1991, is a financial services holding company. The Company, through its subsidiaries, operates as a mortgage company. The Company’s divisions include Servicing, Lending, and Corporate Items and Other. The Company’s Servicing segment consists of its core residential servicing business. The Company’s Lending segment is focused on originating and purchasing conventional and government-insured residential forward and reverse mortgage loans. The Company’s Corporate Items and Other segment includes business activities that include providing secured floor plan lending to used car dealerships through its Automotive Capital Services (ACS) venture and providing financing to investors to purchase single-family homes and apartments for lease through its Liberty Rental Finance venture. The Corporate Items and Other segment also includes the diversified fee businesses, which provide property valuation, real estate owned (REO) management, title and closing services.

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