COWN GAAP EPS Ahead Of KBW Estimate

Cowen Group, Inc.'s COWN GAAP EPS of $0.06 was “ahead of our $0.05 est. on stronger investment income from various trading strategies,” KBW reports.

“Total revs. of $101 mil. up 44% y/y as mgmt fees and incentive income rose, investment banking was flat and brokerage revs. declined,” KBW writes. “Results are now in the black and trends appear to be improving, while LAB merger pending. Adjusting est., maintain MP at this time.”

Cowen Group closed Friday at $4.09.