Price Action Alert: Ocwen Financial Corp Increases Again; Strong Momentum for Buyers

Price Action Alert: Ocwen Financial Corp Increases Again; Strong Momentum for Buyers

The stock of Ocwen Financial Corp (NYSE:OCN) is a huge mover today! About 3.72 million shares traded hands. Ocwen Financial Corp (NYSE:OCN) has risen 93.78% since April 8, 2016 and is uptrending. It has outperformed by 88.13% the S&P500.
The move comes after 6 months positive chart setup for the $639.92M company. It was reported on Nov, 10 by Barchart.com. We have $5.93 PT which if reached, will make NYSE:OCN worth $127.98M more.

Ocwen Financial Corp (NYSE:OCN) Ratings Coverage

Out of 9 analysts covering Ocwen Financial (NYSE:OCN), 1 rate it a “Buy”, 3 “Sell”, while 5 “Hold”. This means 11% are positive. Ocwen Financial has been the topic of 18 analyst reports since July 31, 2015 according to StockzIntelligence Inc. As per Tuesday, October 25, the company rating was downgraded by PiperJaffray. The rating was downgraded by Vetr on Tuesday, September 8 to “Hold”. Piper Jaffray downgraded the shares of OCN in a report on Tuesday, October 25 to “Underweight” rating. The firm earned “Neutral” rating on Tuesday, March 29 by Citigroup. Compass Point maintained it with “Neutral” rating and $8.0 target price in Thursday, December 3 report. Compass Point maintained Ocwen Financial Corp (NYSE:OCN) rating on Tuesday, August 4. Compass Point has “Sell” rating and $6 price target. The company was maintained on Friday, August 7 by Oppenheimer. Compass Point maintained the shares of OCN in a report on Thursday, April 28 with “Neutral” rating. As per Friday, July 31, the company rating was downgraded by Sterne Agee CRT. The stock of Ocwen Financial Corp (NYSE:OCN) has “Buy” rating given on Wednesday, September 14 by Compass Point.

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 Q2 2016. Its down 0.14, from 0.81 in 2016Q1. The ratio turned negative, 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.
Nordea Mngmt has invested 0% of its portfolio in Ocwen Financial Corp (NYSE:OCN). Ubs Asset Mgmt Americas last reported 0% of its portfolio in the stock. Putnam Investments has 8.82 million shares for 0.04% of their US portfolio. The New York-based Bnp Paribas Arbitrage Sa has invested 0% in Ocwen Financial Corp (NYSE:OCN). Moreover, Citigroup has 0% invested in Ocwen Financial Corp (NYSE:OCN) for 52,912 shares. Proshare Advisors Limited Liability Corp has 12,308 shares for 0% of their US portfolio. Quinn Opportunity Prns Ltd Llc has invested 0.04% of its portfolio in Ocwen Financial Corp (NYSE:OCN). First Quadrant Limited Partnership Ca last reported 0.02% of its portfolio in the stock. West Family Investments accumulated 0.02% or 76,400 shares. Spot Trading Ltd Liability Company holds 0% of its portfolio in Ocwen Financial Corp (NYSE:OCN) for 101,795 shares. The Minnesota-based Whitebox Advsrs Ltd Com has invested 0.02% in Ocwen Financial Corp (NYSE:OCN). State Street has 0% invested in the company for 1.82 million shares. Brevan Howard Cap Mngmt Lp has 118,915 shares for 0.02% of their US portfolio. Blackrock Advsr Limited Liability Com has 62,534 shares for 0% of their US portfolio. First L P, a Illinois-based fund reported 33,514 shares.

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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