Follow The 13GDs: Ocwen Financial Corp Has Another Bullish Trade, Kingstown Capital Partners Bought Stake!

Follow The 13GDs: Ocwen Financial Corp Has Another Bullish Trade, Kingstown Capital Partners Bought Stake!

The New Kingstown Capital Partners Holding in Ocwen Financial Corp

Kingstown Capital Partners filed with the SEC SC 13D/A form for Ocwen Financial Corp. The form can be accessed here: 000092189516006186. As reported in Kingstown Capital Partners’s form, the filler as of late owns 4.84% or 6,000,000 shares of the Finance–company.

Ocwen Financial Corp stake is a new one for the and it was filed because of activity on November 11, 2016. We feel this shows Kingstown Capital Partners’s positive view for the stock.

Ocwen Financial Corp Institutional Sentiment

Latest Security and Exchange filings show 163 investors own Ocwen Financial Corp. The institutional ownership in Q3 2015 is high, at 84.08% of the outstanding shares. This is decreased by 6308529 the total institutional shares. 104244932 were the shares owned by these institutional investors. In total 20 funds opened new Ocwen Financial Corp stakes, 63 increased stakes. There were 29 that closed positions and 52 reduced them.

8 managers had the stock in their top Ten. Notable investors are: Brevan Howard Capital Management Lp, Marathon Asset Management Lp, Richmond Hill Investment Co. Lp, Richmond Hill Investments Llc, Akanthos Capital Management Llc..

Andy Redleaf Whitebox Advisors Llc is an institutional investor bullish on Ocwen Financial Corp, owning 8717017 shares as of Q3 2015 for 2.61% of its portfolio. Yale M. Fergang And Robert W. Medway Royal Capital Management Llc owns 650000 shares or 11.71% of its portfolio. NY Richmond Hill Investments Llc have 13.07% of their stock portfolio for 4389656 shares. Further, Richmond Hill Investment Company reported stake worth 11.06% of its US stock portfolio. The NY Kingstown Capital Management Lp owns 12500000 shares. Ocwen Financial Corp is 9.43% of the manager’s US portfolio.

Business 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. 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-based businesses, which provide property valuation, real estate owned (REO) management, title and closing services.

SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.

Insitutional Activity: The institutional sentiment decreased to 0.67 in Q2 2016. Its down 0.14, from 0.81 in 2016Q1. The ratio fall, 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.

Moreover, Royal Bancshares Of Canada has 0% invested in Ocwen Financial Corp (NYSE:OCN) for 820 shares. Blackrock Fund Advisors has 0% invested in the company for 2.62 million shares. Connor Clark Lunn Mngmt Ltd reported 365,750 shares or 0% of all its holdings. Rhumbline Advisers last reported 0% of its portfolio in the stock. Exane Derivatives holds 1 shares or 0% of its portfolio. Bridgeway Mngmt has 0.01% invested in the company for 204,600 shares. California State Teachers Retirement System accumulated 0% or 211,015 shares. Sg Americas Ltd Company reported 156,771 shares or 0% of all its holdings. First Tru Advsr L P holds 33,514 shares or 0% of its portfolio. Vanguard Group reported 6.75 million shares or 0% of all its holdings. Jefferies Group Inc Ltd Liability owns 79,862 shares or 0% of their US portfolio. Teachers reported 51,712 shares or 0% of all its holdings. Dynamic Cap Limited holds 0.01% or 58,406 shares in its portfolio. Nordea Invest Mgmt Ab accumulated 491,950 shares or 0% of the stock. Cornerstone Cap Mngmt Hldgs Ltd has 0% invested in the company for 45,200 shares.

About 3.55M shares traded hands. Ocwen Financial Corp (NYSE:OCN) has risen 92.00% since April 13, 2016 and is uptrending. It has outperformed by 88.07% the S&P500.

Ocwen Financial Corporation is a financial services holding company. The company has a market cap of $605.22 million. The Company, through its subsidiaries, operates as a mortgage company. It currently has negative earnings. The Company’s divisions include Servicing, Lending, and Corporate Items and Other.

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. $9 is the highest target while $3 is the lowest. The $6.30 average target is 30.43% above today’s ($4.83) stock price. Ocwen Financial has been the topic of 18 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The stock has “Hold” rating given by Vetr on Tuesday, September 8. The stock has “Strong-Buy” rating given by Vetr on Friday, August 28. PiperJaffray downgraded the stock to “Underweight” rating in Tuesday, October 25 report. The stock of Ocwen Financial Corp (NYSE:OCN) has “Sell” rating given on Tuesday, August 4 by Compass Point. The firm earned “Strong-Buy” rating on Wednesday, September 2 by Vetr. The firm earned “Underweight” rating on Tuesday, October 25 by Piper Jaffray. The firm has “Neutral” rating by Piper Jaffray given on Friday, December 11. Compass Point upgraded it to “Neutral” rating and $6 target price in Wednesday, August 26 report. The firm has “Neutral” rating by Sterne Agee CRT given on Friday, July 31. Citigroup maintained Ocwen Financial Corp (NYSE:OCN) on Tuesday, March 29 with “Neutral” rating.

Another recent and important Ocwen Financial Corp (NYSE:OCN) news was published by Streetinsider.com which published an article titled: “Piper Jaffray Downgrades Ocwen Financial Corp (OCN) to Underweight” on October 25, 2016.

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.”

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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