COHN Stock: 12.76% Increase (From $34.94 To $39.40) Pre-Market Explanation

By Amit Chowdhry ● May 6, 2021
  • The stock price of Cohen & Company Inc (NYSEAMERICAN: COHN) increased 12.76% (from $34.94 to $39.40) pre-market. This is why it happened.

The stock price of Cohen & Company Inc (NYSEAMERICAN: COHN) increased 12.76% (from $34.94 to $39.40) pre-market. Investors are responding positively to the company’s first quarter results.

— Net income attributable to Cohen & Company Inc. was $9.4 million, or $6.98 per diluted share, for the three months ended March 31, 2021, compared to $14.8 million, or $7.64 per diluted share, for the three months ended December 31, 2020, and net loss of ($3.1) million, or ($2.70) per diluted share, for the three months ended March 31, 2020. 

— Adjusted pre-tax income was $37.6 million, or $7.52 per diluted share, for the three months ended March 31, 2021, compared to $23.8 million, or $4.64 per diluted share, for the three months ended December 31, 2020, and adjusted pre-tax loss of ($4.1) million, or ($1.04) per diluted share, for the three months ended March 31, 2020. 

— Adjusted pre-tax income (loss) is not a measure recognized under U.S. generally accepted accounting principles (“GAAP”). See Note 1 below.

— Revenues during the three months ended March 31, 2021 increased $36.3 million from the prior quarter and $84.9 million from the prior year quarter.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.