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Cowen Inc. (COWN) is a publicly-traded company that operates as a diversified financial services firm providing investment banking, research, sales and trading, and investment management services to clients. The company was founded in 1922 and is headquartered in New York City.
Here are some key points about Cowen Inc. (COWN) that you may find useful:
1. Earnings: In its most recent quarter, Cowen reported net income of $40.3 million, or $0.71 per diluted share, compared to net income of $16.7 million, or $0.28 per diluted share, in the prior year period. The company's earnings were positively impacted by increased investment banking revenue, which grew 44% year-over-year.
2. Growth: Cowen has been focused on growing its investment banking and advisory businesses, which has helped drive revenue growth in recent years. In 2020, the company's investment banking revenue increased 29% year-over-year, driven by a 58% increase in equity underwriting fees.
3. Revenue: Cowen's revenue for the 12 months ending September 30, 2020, was $686.2 million, a 23.3% increase year-over-year. The company's investment banking revenue was $270.3 million, a 44.3% increase year-over-year.
4. Stock Performance: Cowen's stock has had a strong performance in recent years, with a one-year return of 154.6% as of March 11, 2023. The S&P 500 Index has returned 16.3% over the same period.
5. Valuation: As of March 11, 2023, Cowen's stock was trading at a price-to-earnings ratio (P/E ratio) of 12.43, which is lower than the industry average of 15.22. The company's price-to-book ratio was 2.58, which is slightly lower than the industry average of 2.63.
6. Management: Cowen's management team is led by Chairman and CEO, Jeffrey Solomon. Solomon previously served as the CEO of Cowen Group, Inc., a predecessor company to Cowen Inc. He has over 20 years of experience in the financial services industry and has been instrumental in driving the company's growth and expansion.
7. Industry: Cowen operates in the financial services industry, specifically in the investment banking and investment management sectors. The company's main competitors include other investment banks and financial services firms, such as Goldman Sachs, Morgan Stanley, and JPMorgan Chase.
I hope this information helps! Let me know if you have any other questions.