Ocwen Financial (OCN) Reaches $4.32 After 3.00% Down Move; Brookside Capital Management Has Decreased By $880,000 Its Bristol Myers Squibb Co (Put) (BMY) Position

June 14, 2018 - By Cheryll Laflamme

Bristol-Myers Squibb Company (NYSE:BMY) Logo

Brookside Capital Management Llc decreased Bristol Myers Squibb Co (Put) (BMY) stake by 78.57% reported in 2018Q1 SEC filing. Brookside Capital Management Llc sold 5,500 shares as Bristol Myers Squibb Co (Put) (BMY)’s stock declined 23.11%. The Brookside Capital Management Llc holds 1,500 shares with $241,000 value, down from 7,000 last quarter. Bristol Myers Squibb Co (Put) now has $87.64 billion valuation. The stock increased 0.30% or $0.16 during the last trading session, reaching $53.62. About 2.27 million shares traded. Bristol-Myers Squibb Company (NYSE:BMY) has declined 2.98% since June 14, 2017 and is downtrending. It has underperformed by 15.55% the S&P500. Some Historical BMY News: ; 23/03/2018 – MERCY INVESTMENT SERVICES SAYS URGES BRISTOL MYERS SHAREHOLDERS TO VOTE FOR PROPOSAL #4 – SEC FILING; 16/04/2018 – Janssen Announces Worldwide Development and Commercialization Collaboration with Bristol-Myers Squibb to Advance a Next-Generat; 23/03/2018 – lpsen Receives Positive CHMP Opinion for Cabometyx® (cabozantinib) for the First-Line Treatment of Adults with Intermediate- or Poor- Risk Advanced Renal Cell Carcinoma; 13/04/2018 – OPDIVO (NIVOLUMAB), FIRST PD-1 INHIBITOR TO DEMONSTRATE SUPERIOR SURVIVAL BENEFIT COMPARED WITH CHEMOTHERAPY IN A PREDOMINANTLY CHINESE POPULATION WITH PREVIOUSLY TREATED NON-SMALL CELL LUNG CANCE…; 13/04/2018 – BRISTOL-MYERS SQUIBB AND ILLUMINA ANNOUNCE STRATEGIC COLLABORATION TO DEVELOP AND COMMERCIALIZE COMPANION DIAGNOSTICS FOR BRISTOL-MYERS SQUIBB’S ONCOLOGY IMMUNOTHERAPIES; 27/03/2018 – BRISTOL-MYERS SQUIBB CO – FDA ACTION DATE FOR FURTHER REGULATION ON THE SBLA IS JULY 10, 2018; 16/04/2018 – NEARLY 70 PCT OF KEYTRUDA PLUS CHEMOTHERAPY PATIENTS ALIVE AFTER 1 YEAR VS 49 PCT FOR CHEMO ALONE – DATA; 09/04/2018 – STAT Plus: Pharmalittle: Novartis pays $9 billion for gene therapy company; Merck’s Keytruda scores a win; 17/04/2018 – GLOBAL PHARMACEUTICALS : CITIGROUP PREFERS BUY RATED MERCK & CO, BRISTOL-MYERS SQUIBB AND ELI LILLY IN THE US; 24/04/2018 – Rhode Island DoA: Bristol Warren Regional School District Tue, 4/24/2018, 6:00 PM

The stock of Ocwen Financial Corporation (NYSE:OCN) is a huge mover today! The stock decreased 1.82% or $0.08 during the last trading session, reaching $4.32. About 200,630 shares traded. Ocwen Financial Corporation (NYSE:OCN) has risen 71.37% since June 14, 2017 and is uptrending. It has outperformed by 58.80% the S&P500. Some Historical OCN News: ; 08/05/2018 – PHH CORP – ROVIDES UPDATE ON PROPOSED MERGER WITH OCWEN FINANCIAL CORPORATION; 08/05/2018 – PHH Corp: Special Meeting of Holders Scheduled for June 11 to Approve Merger With Ocwen; 21/04/2018 – DJ Ocwen Financial Corporation, Inst Holders, 1Q 2018 (OCN); 02/05/2018 – OCWEN 1Q EPS 2C, EST. LOSS/SHR 28C (2 EST.); 09/03/2018 The Law Offices of Vincent Wong Notifies Investors of an Investigation Into PHH Corporation in Connection with the Sale of the Company to Ocwen Financial Corporation; 17/04/2018 – The Law Offices of Vincent Wong Reminds Investors of an Investigation into PHH Corporation in Connection with the Sale of the Company to Ocwen Financial Corporation; 26/04/2018 – Paul Muolo: Under Mulvaney, the CFPB decides not to file any charges against Ocwen vendor Altisource:; 03/05/2018 – Moody’s assigns definitive ratings to New Residential Mortgage Loan Trust 2018-2; 02/04/2018 – Div Insur (MA): Division of Banks Announces Settlement over Deficient Loan Servicing Practices at Ocwen; 19/04/2018 – Ocwen: Messina to Assume Leadership Role Concurrent With the Closing of Cols Acquisition of PHHThe move comes after 8 months negative chart setup for the $578.51M company. It was reported on Jun, 14 by Barchart.com. We have $4.19 PT which if reached, will make NYSE:OCN worth $17.36M less.

Since January 22, 2018, it had 4 insider buys, and 0 selling transactions for $8.51 million activity. COOPERMAN LEON G bought 539,798 shares worth $1.92 million.

Investors sentiment decreased to 0.77 in Q1 2018. Its down 0.43, from 1.2 in 2017Q4. It dropped, as 21 investors sold Ocwen Financial Corporation shares while 35 reduced holdings. 14 funds opened positions while 29 raised stakes. 56.56 million shares or 3.14% more from 54.84 million shares in 2017Q4 were reported. 3,000 were accumulated by Panagora Asset Mngmt. D E Shaw owns 613,258 shares. Group Inc One Trading L P holds 0.03% or 879,647 shares in its portfolio. Capital Lc owns 1,000 shares for 0% of their portfolio. Amalgamated Bank & Trust reported 14,295 shares. Zeke Cap Limited Company reported 0% stake. 652,082 were reported by Parametric Portfolio Associate Limited Com. Bancorporation Of New York Mellon Corp invested in 0% or 493,451 shares. Schwab Charles Invest Mgmt reported 1.67 million shares stake. Ameritas Inv Inc has invested 0% in Ocwen Financial Corporation (NYSE:OCN). Sei Invests holds 0% or 67 shares in its portfolio. Jane Street Gru Limited Company holds 12,908 shares. Stratos Wealth holds 0% or 3,706 shares. Tower Rech Cap (Trc) reported 2,580 shares or 0% of all its holdings. Parallax Volatility Advisers Limited Partnership holds 0% or 231,361 shares in its portfolio.

Among 10 analysts covering Ocwen Financial (NYSE:OCN), 1 have Buy rating, 2 Sell and 7 Hold. Therefore 10% are positive. Ocwen Financial had 25 analyst reports since July 31, 2015 according to SRatingsIntel. The firm has “Underweight” rating by PiperJaffray given on Tuesday, October 25. The stock of Ocwen Financial Corporation (NYSE:OCN) has “Neutral” rating given on Friday, December 11 by Piper Jaffray. The firm earned “Strong-Buy” rating on Friday, August 28 by Vetr. Vetr downgraded it to “Hold” rating and $8.02 target in Tuesday, September 8 report. The company was maintained on Tuesday, March 29 by Citigroup. As per Monday, April 24, the company rating was upgraded by Compass Point. Compass Point maintained Ocwen Financial Corporation (NYSE:OCN) rating on Tuesday, August 4. Compass Point has “Sell” rating and $6 target. The firm has “Neutral” rating by Compass Point given on Thursday, December 3. On Friday, October 6 the stock rating was maintained by Keefe Bruyette & Woods with “Hold”. Compass Point upgraded the shares of OCN in report on Wednesday, August 26 to “Neutral” rating.

Ocwen Financial Corporation, a financial services holding company, engages in the servicing and origination of mortgage loans in the United States. The company has market cap of $578.51 million. The Company’s Servicing segment provides residential and commercial mortgage loan servicing, special servicing, and asset management services to owners of mortgage loans and foreclosed real estate. It currently has negative earnings. This segmentÂ’s residential servicing portfolio includes conventional, government insured, and non-agency loans.

Analysts await Ocwen Financial Corporation (NYSE:OCN) to report earnings on August, 1. They expect $-0.13 earnings per share, up 63.89% or $0.23 from last year’s $-0.36 per share. After $0.02 actual earnings per share reported by Ocwen Financial Corporation for the previous quarter, Wall Street now forecasts -750.00% negative EPS growth.

More news for Ocwen Financial Corporation (NYSE:OCN) were recently published by: Streetinsider.com, which released: “Ocwen Financial (OCN) Announces Resignation of Michael Bourque as CFO” on May 29, 2018. Globenewswire.com‘s article titled: “Ocwen Remains Committed to Helping New York Homeowners Better Afford Their Homes” and published on June 05, 2018 is yet another important article.

Analysts await Bristol-Myers Squibb Company (NYSE:BMY) to report earnings on July, 26. They expect $0.87 earnings per share, up 17.57% or $0.13 from last year’s $0.74 per share. BMY’s profit will be $1.42 billion for 15.41 P/E if the $0.87 EPS becomes a reality. After $0.94 actual earnings per share reported by Bristol-Myers Squibb Company for the previous quarter, Wall Street now forecasts -7.45% negative EPS growth.

More notable recent Bristol-Myers Squibb Company (NYSE:BMY) news were published by: Seekingalpha.com which released: “Bristol-Myers Top NASH Contenders” on June 12, 2018, also Seekingalpha.com with their article: “Neon Therapeutics readies IPO” published on June 01, 2018, Seekingalpha.com published: “Merck up 2% premarket on positive Keytruda data; Bristol-Myers down 2%” on June 04, 2018. More interesting news about Bristol-Myers Squibb Company (NYSE:BMY) were released by: Seekingalpha.com and their article: “Bristol-Myers Squibb (BMY) Presents at UBS Global Healthcare Conference (Transcript)” published on May 22, 2018 as well as Forbes.com‘s news article titled: “How Sensitive Is Bristol-Myers Squibb To Its R&D Expense Change?” with publication date: June 05, 2018.

Investors sentiment decreased to 0.83 in 2018 Q1. Its down 0.11, from 0.94 in 2017Q4. It turned negative, as 64 investors sold BMY shares while 573 reduced holdings. 111 funds opened positions while 418 raised stakes. 1.12 billion shares or 1.08% more from 1.11 billion shares in 2017Q4 were reported. Shelton Mngmt invested 0.13% in Bristol-Myers Squibb Company (NYSE:BMY). Retirement Of Alabama stated it has 779,913 shares. 3.09M were reported by Principal Gp Inc. Banced Corp holds 10,651 shares. Nebraska-based Farmers Merchants has invested 0.53% in Bristol-Myers Squibb Company (NYSE:BMY). Northern Tru invested 0.38% of its portfolio in Bristol-Myers Squibb Company (NYSE:BMY). Boston Advsr Ltd stated it has 0.59% in Bristol-Myers Squibb Company (NYSE:BMY). Pennsylvania-based Hbk Sorce Advisory Ltd Llc has invested 0.18% in Bristol-Myers Squibb Company (NYSE:BMY). Patten & Patten Tn accumulated 181,930 shares. Kbc Gru Nv holds 0.22% or 371,225 shares in its portfolio. Hudson Bay Cap Management LP holds 16,000 shares or 0.02% of its portfolio. Aperio Group Incorporated Ltd Liability Corp, California-based fund reported 962,579 shares. Allsquare Wealth Mgmt Limited Liability Corporation accumulated 2,400 shares. Arrow Fincl Corp reported 0.43% in Bristol-Myers Squibb Company (NYSE:BMY). Lpl Financial Lc has invested 0.09% in Bristol-Myers Squibb Company (NYSE:BMY).

Among 22 analysts covering Bristol-Myers Squibb Company (NYSE:BMY), 6 have Buy rating, 2 Sell and 14 Hold. Therefore 27% are positive. Bristol-Myers Squibb Company had 87 analyst reports since July 28, 2015 according to SRatingsIntel. Jefferies maintained Bristol-Myers Squibb Company (NYSE:BMY) on Friday, March 23 with “Hold” rating. SunTrust upgraded Bristol-Myers Squibb Company (NYSE:BMY) on Monday, October 30 to “Buy” rating. The stock of Bristol-Myers Squibb Company (NYSE:BMY) has “Neutral” rating given on Tuesday, April 17 by Bank of America. The rating was maintained by Credit Suisse on Monday, May 9 with “Outperform”. BMO Capital Markets maintained Bristol-Myers Squibb Company (NYSE:BMY) on Friday, July 28 with “Underperform” rating. The stock has “Hold” rating by SunTrust on Monday, October 16. Cowen & Co maintained the shares of BMY in report on Monday, September 18 with “Hold” rating. On Wednesday, August 16 the stock rating was maintained by Credit Suisse with “Hold”. The rating was maintained by UBS with “Buy” on Friday, April 29. Citigroup maintained it with “Buy” rating and $78.0 target in Friday, February 16 report.

Brookside Capital Management Llc increased Mulesoft Inc stake by 123,664 shares to 1.53M valued at $67.19M in 2018Q1. It also upped Clovis Oncology Inc (NASDAQ:CLVS) stake by 49,500 shares and now owns 52,500 shares. Allegheny Technologies Inc (NYSE:ATI) was raised too.

Since December 15, 2017, it had 1 insider buy, and 0 sales for $249,948 activity. $249,187 worth of Bristol-Myers Squibb Company (NYSE:BMY) was bought by Samuels Theodore R. II on Friday, December 15. On Monday, April 30 the insider Paliwal Dinesh C bought $249,948.

Ocwen Financial Corporation (NYSE:OCN) Institutional Positions Chart

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