Cowen Board of Directors Approves Increase in Share Repurchase Program to $25 million

Rhea-AI Summary

Cowen has announced an increase in its share repurchase program, bringing the total available for repurchase to $25 million. This strategic move reflects the company's commitment to enhancing shareholder value and confidence in its financial future. By repurchasing shares, Cowen aims to improve earnings per share (EPS) and potentially boost stock prices, demonstrating a proactive approach to capital management.

Positive

• Increase in share repurchase program to $25 million enhances shareholder value.
• The buyback could improve earnings per share (EPS) and potentially boost stock price.

Negative

• None.

News Market Reaction – COWN

+2.20%

+2.20% Session move

In the trading session that priced this news, COWN gained 2.20%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

NEW YORK, June 23, 2020 (GLOBE NEWSWIRE) -- Cowen Inc. (NASDAQ:COWN) (“Cowen” or the “Company) today announced that its Board of Directors has approved an increase in the Company’s existing share repurchase program (the “Share Repurchase Program”). With this increase, the total amount now available for repurchase under the current plan is $25 million.

About Cowen Inc.

Cowen Inc. is a diversified financial services firm offering investment banking services, equity and credit research, sales and trading, prime brokerage, global clearing, commission management services and actively managed alternative investment products. Cowen focuses on delivering value-added capabilities to our clients in order to help them outperform. Founded in 1918, the Company is headquartered in New York and has offices worldwide. Learn more at Cowen.com

For further information, contact:

Cowen Inc.
J.T. Farley, Investor Relations
(646) 562-1056
james.farley@cowen.com

FAQ

What is the new amount approved for Cowen's share repurchase program?

The new amount approved for Cowen's share repurchase program is $25 million.

Why did Cowen increase its share repurchase program?

Cowen increased its share repurchase program to enhance shareholder value and reflect confidence in its financial outlook.

What impact does Cowen's share repurchase program have on stock price?

The share repurchase program may improve earnings per share (EPS) and could potentially lead to a boost in stock price.