How Ocwen Financial Corp (OCN) Stacks Up Against Its Peers

Consequently, specific money managers were breaking ground themselves. Millennium Management created the most valuable position in Ocwen Financial Corp (NYSE:OCN). Millennium Management had $4.1 million invested in the company at the end of the quarter. Glenn Russell Dubin’s Highbridge Capital Management also initiated a $0.5 million position during the quarter. The other funds with new positions in the stock are Ken Griffin’s Citadel Investment Group and Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.

Let’s also examine hedge fund activity in other stocks similar to Ocwen Financial Corp (NYSE:OCN). We will take a look at Boulevard Acquisition Corp II (NASDAQ:BLVD), Catchmark Timber Trust Inc (NYSE:CTT), NewStar Financial Inc (NASDAQ:NEWS), and Everbridge Inc (NASDAQ:EVBG). This group of stocks’ market caps are closest to OCN’s market cap.

As you can see these stocks had an average of 10 hedge funds with bullish positions and the average amount invested in these stocks was $81 million. That figure was $63 million in OCN’s case. Catchmark Timber Trust Inc (NYSE:CTT) is the most popular stock in this table. On the other hand NewStar Financial Inc (NASDAQ:NEWS) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks Ocwen Financial Corp (NYSE:OCN) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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