Stock Worth Watching: Is Buying Stock Like Ocwen Financial Corp After Such Increase Winning Strategy?

Stock Worth Watching: Is Buying Stock Like Ocwen Financial Corp After Such Increase Winning Strategy?

The stock of Ocwen Financial Corp (NYSE:OCN) is a huge mover today! About 1.40M shares traded hands. Ocwen Financial Corp (NYSE:OCN) has risen 76.37% since April 4, 2016 and is uptrending. It has outperformed by 75.28% the S&P500.
The move comes after 5 months positive chart setup for the $513.66M company. It was reported on Nov, 4 by Barchart.com. We have $7.03 PT which if reached, will make NYSE:OCN worth $333.88 million 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. The firm has “Neutral” rating by Piper Jaffray given on Friday, December 11. On Friday, July 31 the stock rating was downgraded by Sterne Agee CRT to “Neutral”. The rating was maintained by Compass Point on Thursday, April 28 with “Neutral”. As per Friday, August 7, the company rating was maintained by Oppenheimer. The firm earned “Neutral” rating on Wednesday, August 26 by Compass Point. The stock has “Strong-Buy” rating given by Vetr on Wednesday, September 2. The company was downgraded on Thursday, August 6 by Zacks. Citigroup maintained the shares of OCN in a report on Tuesday, March 29 with “Neutral” rating. The firm earned “Strong-Buy” rating on Friday, August 28 by Vetr. The stock of Ocwen Financial Corp (NYSE:OCN) earned “Underweight” rating by PiperJaffray on Tuesday, October 25.

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 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.
Nj State Employees Deferred Compensation Plan has invested 0.01% of its portfolio in Ocwen Financial Corp (NYSE:OCN). Spot Trading Limited Liability accumulated 0% or 101,795 shares. Blackrock Inv Management Limited Liability accumulated 444,422 shares or 0% of the stock. Whitebox Ltd Co holds 356,849 shares or 0.02% of its portfolio. Swiss National Bank & Trust, a Switzerland-based fund reported 157,800 shares. Blackrock Grp has 0% invested in the company for 68,052 shares. Richmond Hill Invests Llc last reported 4.98% of its portfolio in the stock. Teacher Retirement System Of Texas has 12,944 shares for 0% of their US portfolio. Kingstown Capital Lp last reported 11.35 million shares in the company. Exane Derivatives reported 1 shares or 0% of all its holdings. Horizon Kinetics Limited Liability Company holds 0.01% or 263,593 shares in its portfolio. Manufacturers Life Com The has 77,845 shares for 0% of their US portfolio. Geode Cap Mngmt Ltd Com holds 0% or 662,257 shares in its portfolio. Group Incorporated One Trading Limited Partnership holds 745,547 shares or 0.02% of its portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) holds 0% or 2,811 shares in its portfolio.

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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