Ocwen Financial Rises On Unusually High Volume (OCN)
Ocwen Financial Corporation (NYSE:OCN) is trading at unusually high volume Monday with 4.8 million shares changing hands. It is currently at two times its average daily volume and trading up $1.87 (+5.4%).
Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. NEW YORK ( TheStreet) -- Ocwen Financial Corporation (NYSE: OCN) is trading at unusually high volume Monday with 4.8 million shares changing hands. It is currently at two times its average daily volume and trading up $1.87 (+5.4%) at $36.76 as of 3:16 p.m. ET.
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Ocwen Financial has a market cap of $4.68 billion and is part of the financial sector and banking industry. Shares are up 0.3% year to date as of the close of trading on Friday. Ocwen Financial Corporation, through its subsidiaries, provides residential and commercial mortgage loan servicing, special servicing, and asset management services in the United States and internationally. The company has a P/E ratio of 38.1, above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Ocwen Financial as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and notable return on equity. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full Ocwen Financial Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Holiday Special: Subscribe to Action Alerts PLUS to see how Jim Cramer trades his $2.5 Million+ portfolio for 51% off the list price. Your first 14-days are FREE: Sign up today to get e-mail alerts before every trade.