Cowen Inc - Class A chart

Last update: 2022-12-30
Key statistics and financials
Revenue per share 49.75
Dividend & Yield0.48$ (1.24%)
Beta 1.44
Market capitalization 1.09B
Operating cash flow -91.14M
ESG Scores unknown

Company description

Cowen Inc., together with its subsidiaries, provides investment banking, research, sales and trading, prime brokerage, global clearing, securities financing, commission management, and investment management services in the United States and internationally. It operates in two segments, Operating Company (Op Co) and Asset Company (Asset Co). The company offers public and private capital raising, and strategic advisory services for public and private companies. It also trades common stocks, listed options, equity-linked securities, and other financial instruments on behalf of institutional investor clients. In addition, the company offers investment products and solutions in the liquidity spectrum to institutional and private clients, as well as provides investment research services. Further, it is involved in the private investment, private real estate investment, and other legacy investment activities. The company was founded in 1918 and is headquartered in New York, New York.

Sector: Financial Services - Industry: Capital Markets

Financial data

Financial Statements

Cashflow Statement 2018-12-31 2019-12-31 2020-12-31 2021-12-31
Change To Liabilities 172.03M -75.3M 1.4B 923.7M
Total Cashflows From Investing Activities -17.88M -47.57M -43.2M -75.54M
Net Borrowings 79.07M 63.04M -31.49M 155.73M
Total Cash From Financing Activities -128.39M 200.44M 25.58M -15.72M
Change To Operating Activities 72.55M 124.69M -4.14M -696.66M
Issuance Of Stock
Net Income 42.82M 24.63M 216.36M 295.61M
Change In Cash 177.91M -34.34M 495.58M 215.36M
Effect Of Exchange Rate
Total Cash From Operating Activities 324.18M -187.21M 513.2M 306.63M
Depreciation 12.44M 20.46M 22.68M 19M
Change To Account Receivables -274.99M 11.85M -1.08B 76.86M
Other Cashflows From Financing Activities -168.91M 159.41M 116.89M 6.53M
Change To Netincome 250.54M -260.33M -40.85M -83.6M
Capital Expenditures -8.59M -14.88M -10.72M -11.82M

Income Statement 2018-12-31 2019-12-31 2020-12-31 2021-12-31
Research Development
Income Before Tax 95.6M 70.72M 297.44M 406.03M
Net Income 42.82M 24.63M 216.36M 295.61M
Selling General Administrative 616.32M 648.82M 983.75M 1.19B
Gross Profit 621.59M 743.77M 1.32B 1.62B
Ebit
Operating Income -28.14M 51.38M 279.06M 375.62M
Interest Expense
Income Tax Expense 15.72M 14.85M 90.37M 102.04M
Total Revenue 855.23M 990.34M 1.57B 1.9B
Cost Of Revenue 233.64M 246.57M 249.88M 280.21M
Total Other Income ExpenseNet 123.74M 19.34M 18.37M 30.41M
Net Income From Continuing Ops 79.88M 55.87M 207.06M 303.99M
Net Income Applicable To Common Shares 36.03M 17.84M 209.57M 288.82M

Balance Sheet Statement 2018-12-31 2019-12-31 2020-12-31 2021-12-31
Total Liabilities 2.27B 3.87B 6.66B 7.45B
Total Stockholder Equity 693.11M 708.55M 868.2M 914.57M
Other Current Liabilities 197.05M 454.61M 745.32M 1.22B
Total Assets 3.35B 5.16B 7.83B 8.75B
Common Stock 324k 334k 334k 334k
Other Current Assets 116.63M 113.58M 238.06M 203.3M
Retained Earnings -34.65M -16.81M 185.9M 461.98M
Treasury Stock -234.15M -284.31M -346.88M -547.11M
Cash 297.27M 332M 645.59M 914.64M
Total Current Liabilities 1.84B 3.26B 6.02B 6.62B
Other Stockholder Equity -5k -5k -7k -2k
Property, Plant, and Equipment 26.44M 126.51M 111.26M 119.63M
Total Current Assets 2.75B 4.4B 7.07B 7.93B
Net Tangible Assets 607.49M 535.63M 696.71M 636.4M
Net Receivables 1.02B 1.01B 2.03B 1.96B
Accounts Payable 873.1M 787.49M 2.23B 3.13B


Insider Transactions

Here are the insider transactions of stock shares related to Cowen Inc - Class A:

Filer Name Transaction Text Ownership Date Filer Relation Shares
KOTLER STEVENStock Award(Grant) at price 0.00 per share.D2022-08-30Director5.52k
DIETZE-COURAGE KATHERINE ELIZABETHStock Award(Grant) at price 0.00 per share.D2022-08-30Director5.83k
LEIBOWITZ LAWRENCE EStock Award(Grant) at price 0.00 per share.D2022-08-30Director7.67k
REDIKER DOUGLAS AStock Award(Grant) at price 0.00 per share.D2022-08-30Director10.23k
KIM LORENCE HStock Award(Grant) at price 0.00 per share.D2022-08-30Director8.18k
GONSALVES GREGG A.Stock Award(Grant) at price 0.00 per share.D2022-08-30Director5.12k
BARTH BRETT H.Stock Award(Grant) at price 0.00 per share.D2022-08-30Director13.3k
POSTER MARGARET L.Stock Award(Grant) at price 0.00 per share.D2022-08-30Director7.67k
SOLOMON JEFFREY MStock Award(Grant) at price 0.00 per share.D2022-03-10Chief Executive Officer112.05k
LASOTA STEPHEN AStock Award(Grant) at price 0.00 per share.D2022-03-10Chief Financial Officer70k
LITTMAN OWEN SStock Award(Grant) at price 0.00 per share.D2022-03-10General Counsel70.05k
HOLMES JOHN JStock Award(Grant) at price 0.00 per share.D2022-03-10Chief Operating Officer70.05k
KIM LORENCE HPurchase at price 30.03 per share.D2022-02-25Director30k
BARTH BRETT H.Purchase at price 28.78 per share.D2022-02-23Director10k
SOLOMON JEFFREY MStock Award(Grant) at price 0.00 per share.D2022-02-18Chief Executive Officer112.36k
LASOTA STEPHEN AStock Award(Grant) at price 0.00 per share.D2022-02-18Chief Financial Officer9.65k
LITTMAN OWEN SStock Award(Grant) at price 0.00 per share.D2022-02-18General Counsel9.65k
HOLMES JOHN JStock Award(Grant) at price 0.00 per share.D2022-02-18Chief Operating Officer10.45k
BARTH BRETT H.Purchase at price 35.85 per share.D2021-11-26Director10k
KOTLER STEVENStock Award(Grant) at price 0.00 per share.D2021-10-27Director3.4k
DIETZE-COURAGE KATHERINE ELIZABETHStock Award(Grant) at price 0.00 per share.D2021-10-27Director3.59k
LEIBOWITZ LAWRENCE EStock Award(Grant) at price 0.00 per share.D2021-10-27Director4.72k
REDIKER DOUGLAS AStock Award(Grant) at price 0.00 per share.D2021-10-27Director6.29k
GONSALVES GREGG A.Stock Award(Grant) at price 0.00 per share.D2021-10-27Director3.15k
BARTH BRETT H.Stock Award(Grant) at price 0.00 per share.D2021-10-27Director4.09k
POSTER MARGARET L.Stock Award(Grant) at price 0.00 per share.D2021-10-27Director3.15k
SOLOMON JEFFREY MSale at price 40.00 per share.D2021-07-28Chief Executive Officer2.87k
LASOTA STEPHEN ASale at price 40.00 per share.D2021-07-28Chief Financial Officer1.43k
LITTMAN OWEN SSale at price 40.00 per share.D2021-07-28General Counsel1.15k
HOLMES JOHN JSale at price 40.00 per share.D2021-07-28Chief Operating Officer1.43k
SOLOMON JEFFREY MSale at price 40.12 - 40.55 per share.D2021-07-14Chief Executive Officer22.13k
LASOTA STEPHEN ASale at price 40.12 - 40.55 per share.D2021-07-14Chief Financial Officer11.07k
LITTMAN OWEN SSale at price 40.12 - 40.55 per share.D2021-07-14General Counsel8.85k
HOLMES JOHN JSale at price 40.12 - 40.55 per share.D2021-07-14Chief Operating Officer11.07k
BARTH BRETT H.Stock Gift at price 0.00 per share.D2021-03-15Director20k
LASOTA STEPHEN ASale at price 39.36 per share.D2021-03-11Chief Financial Officer14k
LITTMAN OWEN SSale at price 39.97 per share.D2021-03-11General Counsel14k
HOLMES JOHN JSale at price 42.49 per share.D2021-03-11Chief Operating Officer14k
SOLOMON JEFFREY MStock Award(Grant) at price 0.00 per share.D2021-03-10Chief Executive Officer52.55k
LASOTA STEPHEN AStock Award(Grant) at price 0.00 per share.D2021-03-10Chief Financial Officer45.05k
LITTMAN OWEN SStock Award(Grant) at price 0.00 per share.D2021-03-10General Counsel45.05k
HOLMES JOHN JStock Award(Grant) at price 0.00 per share.D2021-03-10Chief Operating Officer45.05k
SOLOMON JEFFREY MSale at price 37.19 per share.D2021-02-22Chief Executive Officer65k
SOLOMON JEFFREY MStock Award(Grant) at price 0.00 per share.D2021-02-17Chief Executive Officer175.72k
BARTH BRETT H.Stock Gift at price 0.00 per share.D2021-02-16Director5k

Insider transaction explanations

Insider buying is the legal purchase of shares by a senior executive or director of a company. "Filer Name" corresponds to the name of the stock buyer or seller. "Transaction Text" describes the transaction. "Ownership" gives information about the transaction type. "Date" is the reported transaction date. "Filer Relation" gives the role of the insider in the company. "Shares" is the value of the transaction. You will find the complete description of the General Transaction Codes on the SEC dedicated page


Investment strategy backtesting

These are the result of three automatic investment systems applied to Cowen Inc - Class A. You will find the performance of an systematic investment system, a momentum strategy, and a buy the dip trading strategy.


Systematic investment results on Cowen Inc - Class A

Here is the result of two systematic investment strategies applied to Cowen Inc - Class A. The first strategy automatically buys the first day of the month, and the second strategy buys the fifteenth day of the month.

Systematic investment equity curve on Cowen Inc - Class A

The following chart shows the equity curve of the two systematic investment strategies applied to Cowen Inc - Class A:

Cowen Inc - Class A automated entries

The systematic investment strategy that buys the first day of the month would give a performance of 143.49% on the backtest period.

Performance at glance

Performance

143.49 %

Latent gain

2517.06 $

Invested capital

1754.21 $

Annualized return

35.0 %
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Momentum strategy results on Cowen Inc - Class A

This is the result of two momentum investment strategies applied to Cowen Inc - Class A. The first strategy uses a momentum signal calculated on one quarter, and the second uses a momentum signal calculated on two quarters.

Momentum entry openings on Cowen Inc - Class A

The following chart shows all the entries opened by the momentum investment system on Cowen Inc - Class A:

Cowen Inc - Class A momentum entries
  • The first momentum investment strategy would give 119.46% of return on Cowen Inc - Class A. That represents 5613.61$ of latent gain with 4699.03$ of employed capital.
  • The second momentum investment strategy would give 137.22% of return on Cowen Inc - Class A. That represents 5431.22$ of latent gain with 3957.9$ of employed capital.
Performance at glance (1Q Momentum)

Performance

119.46 %

Latent gain

5613.61 $

Invested capital

4699.03 $

Annualized return

45.08 %
Performance at glance (2Q Momentum)

Performance

137.22 %

Latent gain

5431.22 $

Invested capital

3957.9 $

Annualized return

37.91 %

Momentum equity curve on Cowen Inc - Class A

The following chart shows the equity curve of the two momentum strategies applied to Cowen Inc - Class A:

Cowen Inc - Class A momentum equity

Note: the dividends potentially given by Cowen Inc - Class A are not integrated into the calculation of the equity curve neither the performance of the strategy. The integration of the dividends will be available soon.


Employed capital on Cowen Inc - Class A

The following chart shows the employed capital evolution of the two momentum strategies on Cowen Inc - Class A since the beginning:

Cowen Inc - Class A

Note: the algorithm buys for a maximum of 250$ per entry. If the stock price is greater than 250$, the system buys only one stock per entry. The investment system stops automatically when the financial exposure reaches 10000$.


Buy the dip strategy result on Cowen Inc - Class A

Buy the dip entry openings on Cowen Inc - Class A

Cowen Inc - Class A

The performance achieved by the robo-advisor on Cowen Inc - Class A is 94.66%. That represents 467.81$ of latent gain with 494.19$ of employed capital. The following chart shows Cowen Inc - Class A stock price with all the entries opened by the automated investment system.

Note: The blue line represents the weekly stock price of Cowen Inc - Class A, and the green triangles represent the entry openings. The artificall robo-advisor needs at least 100 weeks of trading history to work.

Performance at glance

Performance

94.66 %

Latent gain

467.81 $

Invested capital

494.19 $

Annualized return

45.08 %

Equity curve of the strategy applied to Cowen Inc - Class A

The following chart shows the result of the investment strategy applied to Cowen Inc - Class A:

Cowen Inc - Class A

Note: the dividends potentially given by Cowen Inc - Class A are not integrated into the calculation of the equity curve neither the performance of the strategy. The integration of the dividends will be available soon.


Employed capital on Cowen Inc - Class A

The following chart shows the employed capital evolution since the beginning of the investment strategy on Cowen Inc - Class A:

Cowen Inc - Class A

Note: the algorithm buys for a maximum of 250$ per entry. If the stock price is greater than 250$, the system buys only one stock per entry. The investment system stops automatically when the financial exposure reaches 10000$.


Investment strategies comparison on Cowen Inc - Class A

In this section, I will compare the three previous investment strategies applied to Cowen Inc - Class A.

Equity curve comparison on Cowen Inc - Class A

The following chart shows the equity curve of the artificall advisor, the trend folowing and the automatic investment strategies:

Cowen Inc - Class A investment strategy comparison

Employed capital comparison on Cowen Inc - Class A

Cowen Inc - Class A investment comparison

Performance comparison on Cowen Inc - Class A

Strategy Latent Profit Growth Employed capital CAGR
Automatic investment 143.49% 2517.06$ 1754.21$ 35.0%
Momentum 1 quarter 119.46% 5613.61$ 4699.03$ 30.95%
Momentum 2 quarters 137.22% 5431.22$ 3957.9$ 37.91%
Non-directional 94.66% 467.81$ 494.19$ 45.08%
Annualized return comparison

Automatic investment

35.0 %

Momentum 1Q

37.91 %

Momentum 2Q

37.91 %

Non-directional

45.08 %

Correlated stocks

Here are the most positively and negatively correlated stocks with Cowen Inc - Class A:


Company information

Company name Cowen Inc - Class A
Country United States
City New York
Address 599 Lexington Avenue
Phone 646 562 1010
Website www.cowen.com
FullTime employees 1534
Industry Capital Markets
Sector Financial Services
Exchange XNAS
Ticker COWN
Market www.nasdaq.com

Cowen Inc - Class A ESG Scores

Environment scores

Environment ESG Factors Scores
Environment Score 0
Peer Environment Performance unknown
Environment Percentile unknown
Palm Oil unknown
Nuclear unknown
Fur Leather unknown
GMO unknown
Coal unknown
Pesticides unknown
Animal Testing unknown

Social scores

Social ESG Factors Scores
Social Score 0
Peer Social Performance unknown
Social Percentile unknown
Highest Controversy unknown
Peer Highest Controversy Performance unknown
Adult unknown
Gambling unknown
Alcoholic unknown
Tobacco unknown
Catholic unknown
Controversial Weapons unknown
Small Arms unknown
Military Contract unknown
Peer Count unknown

Related Controversy:


Governance scores

Governance ESG Factors Scores
Governance Score 0
Peer Governance Performance unknown
Governance Percentile unknown

ESG at glance
Total ESG Scores: unknown
Environment Score: 0
Social Score: 0
Governance Score: 0

ESG Performance: unknown

Peer Group: unknown

Peer Esg Score Performance: unknown

Rating Year: unknown

Rating Month: unknown

Max Age: unknown

Percentile: unknown