Piper Jaffray reiterated "outperform" with a $20.00 price target today. Read my post for the analyst comments. It will recover. Just have to be patient.
Piper Jaffray analyst Michael Grondahl reiterated an Overweight rating on Ocwen Financial Corp (NYSE: OCN) while trimming his price target to $20.00 (from $25.00) after the company ached a $2.5M settlement with California over OCN's failure to provide information to its California regulators in a timely manner.
"We believe this settlement largely removes the risk of OCN's servicing license being suspended in California," Grondahl said. "We note that California is OCN's largest state exposure by UPB at $95B and 378.1K loans. Additionally, OCN was served a notice of default on its servicing for 119 of ~4200 trusts serviced by OCN. These 119 trusts currently represent only ~$10B in servicing (originally ~$82B). We believe it is incorrect to assume that the entire servicing book will declare an event of default and pull servicing as this would greatly increase foreclosure timelines and hurt both borrowers/bondholders."
No, new price is .75 from $5.00 Check out the update on flyonthewall. They downgraded it to .75 cents from 5 dollars. No BS
What a disaster. his two largest positions BSDM and CRXM are both around .20 cents. If you go buy how many shares he claims to own of each, the guy is down 100's of thousands of dollars if not a million +
$TRVN Insider buying:CEO 8k shrs, Directors 37,200k shrs, VP 5k shrs, CFO 25k shrs, Major Shareholders (2) Enterprise Associates 1 million shrs and Partners VIII Alta 500k shrs.
Partners Viii, Alta, a major owner of Trevena, recently acquired 500,000 shares of the company. The buys took place at $4.00 per share, on December 10, 2014. Alta now owns 4,390,262 shares of the company.
Major shareholder Enterprise Associates 12 New purchased 1000000 shares of the company's stock on the open market. In addition to that purchase, CEO, CFO have scooped up shares too.
Sucks to be you shorty. Printing 10.00 soon!
Yes, a very good sign. Plus it is already trading above the offering price ...which is rare. Very bullish going forward imo.
Lot's of volume has traded above that 2.46 support as the stock has been consolidating the gains off of the lows. Still a hold unless it closes below 2.46, then you might want to wait until it settles.
Now we know why it was up so much yesterday. Wall Street crooks at it again. Always first to know and the little guys the last.
I think today might have been that dip you are referring to, we'll see. I'm still curious as to why this traded up to $4.57 on high volume the morning after the capital raise was announced. It started trading 4.15 and pre market volume began to spike all the way to 4.57. During the regular session, it opened at 4.42 and then massive volume drove it back down to the offering price at 4.00. The pre market volume was significant. I find it hard to believe that that was all retail but you never know with pre market trading. Very interesting none the less.