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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Ocwen Financial Corp | NYSE:OCN | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.21 | 0.82% | 25.72 | 26.20 | 25.30 | 25.90 | 12,353 | 01:00:00 |
OCWEN FINANCIAL CORPORATION
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(Name of Issuer)
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Common Stock, par value $0.01 per share
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(Title of Class of Securities)
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675746309
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(CUSIP Number)
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January 15, 2021
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(Date of Event Which Requires Filing of this Statement)
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☐
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Rule 13d-1(b)
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☑
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Rule 13d-1(c)
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☐
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Rule 13d-1(d)
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CUSIP No.
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675746309
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Page 2 of 5
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1
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NAME OF REPORTING PERSONS
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I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
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LEON G. COOPERMAN
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
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(a) ☐
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(b) ☒
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3
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SEC USE ONLY
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4
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CITIZENSHIP OR PLACE OF ORGANIZATION
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United States
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NUMBER OF SHARES
BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH |
5
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SOLE VOTING POWER
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779,037
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6
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SHARED VOTING POWER
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-0-
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7
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SOLE DISPOSITIVE POWER
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779,037
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8
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SHARED DISPOSITIVE POWER
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-0-
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9
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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779,037
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10
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CHECK IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES
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☐
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11
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
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9.0%
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12
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TYPE OF REPORTING PERSON
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IN
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CUSIP No.
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675746309
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Page 3 of 5
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Item 1(a).
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Name of Issuer:
OCWEN FINANCIAL CORPORATION
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Item 1(b).
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Address of Issuer’s Principal Executive Offices:
1661 Worthington Road, Suite 100, West Palm Beach, Florida 33409
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Item 2(a).
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Name of Person Filing:
This statement is filed on behalf of Leon G. Cooperman (“Mr. Cooperman”). Mr. Cooperman is engaged in, among other activities, investing for
his own account. Mr. Cooperman is the Managing Member of Omega Associates, L.L.C. (“Associates”), a limited liability company organized under the laws of the State of Delaware. Associates is a private investment firm formed to invest
in and act as general partner of investment partnerships or similar investment vehicles. Associates is the general partner of a limited partnership organized under the laws of Delaware known as Omega Capital Partners, L.P. (“Capital
LP”), a private investment firm comprised of Cooperman family funds engaged in the purchase and sale of securities for investment for its own account.
Mr. Cooperman is the ultimate controlling person of Associates and Capital LP. The principal business office of Associates and Capital LP is
810 Seventh Avenue, 33rd floor, New York, New York 10019.
Mr. Cooperman is married to an individual named Toby Cooperman, and has an adult son named Michael S. Cooperman.
Mr. Cooperman has investment authority over the Shares held by Toby Cooperman and Michael S. Cooperman.
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Item 2(b).
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Address of Principal Business Office or, if None, Residence:
St. Andrews Country Club, 7118 Melrose Castle Lane, Boca Raton, FL 33496
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Item 2(c).
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Citizenship:
United States
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Item 2(d).
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Title of Class of Securities:
Common Stock, par value $0.01 per share (the “Shares”)
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Item 2(e).
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CUSIP Number:
675746309
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CUSIP No.
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675746309
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Page 4 of 5
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Item 3.
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If this Statement is Filed Pursuant to Sections 240.13d-1(b), or 240.13d-2(b) or (c);
This Item 3 is inapplicable.
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Item 4.
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Ownership.
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(a)(b)
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Amount beneficially owned and percent of Class:
Mr. Cooperman may be deemed the beneficial owner of 779,037 Shares, which constitutes approximately 9.0% of the total
number of Shares outstanding, calculated based on the 8,683,994 Shares issued and outstanding as of October 30, 2020, as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on
November 3, 2020. This consists of 645,702 Shares owned by Capital LP; 66,667 Shares owned by Mr. Cooperman; 33,334 Shares owned by Toby Cooperman; and 33,334 Shares owned by Michael S. Cooperman.
The 779,037 Shares beneficially owned by Mr. Cooperman reflect the 1-for-15 reverse stock split of the Issuer's common
stock which became effective on August 13, 2020.
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(c)
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Number of shares as to which such person has:
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(i)
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Sole power to vote or to direct the vote
779,037
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(ii)
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Shared power to vote or to direct the vote
0
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(iii)
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Sole power to dispose or to direct the disposition of
779,037
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(iv)
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Shared power to dispose or to direct the disposition of
0
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CUSIP No.
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675746309
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Page 5 of 5
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Item 5.
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Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following ☐
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Item 6.
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Ownership of More than Five Percent on Behalf of Another Person.
This Item 6 is not applicable.
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Item 7.
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Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
This Item 7 is not applicable.
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Item 8.
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Identification and Classification of Members of the Group.
This Item 8 is not applicable.
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Item 9.
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Notice of Dissolution of Group.
This Item 9 is not applicable.
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Item 10.
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Certification.
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