Dark Forest Capital Management LP Acquires 24,992 Shares of Mr. Cooper Group Inc. (NASDAQ:COOP)

Dark Forest Capital Management LP lifted its stake in Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) by 775.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,216 shares of the company's stock after acquiring an additional 24,992 shares during the quarter. Dark Forest Capital Management LP's holdings in Mr. Cooper Group were worth $2,709,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COOP. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Mr. Cooper Group by 9,175.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 4,916 shares of the company's stock worth $472,000 after buying an additional 4,863 shares during the period. KLP Kapitalforvaltning AS acquired a new position in Mr. Cooper Group in the 4th quarter valued at approximately $1,603,000. World Investment Advisors LLC bought a new position in Mr. Cooper Group in the third quarter worth $2,537,000. Spire Wealth Management acquired a new stake in shares of Mr. Cooper Group during the 4th quarter valued at about $1,480,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Mr. Cooper Group by 15.5% in the 4th quarter. JPMorgan Chase & Co. now owns 644,159 shares of the company's stock valued at $61,846,000 after purchasing an additional 86,510 shares during the period. 89.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. JMP Securities reaffirmed a "market outperform" rating and issued a $115.00 target price on shares of Mr. Cooper Group in a report on Thursday, February 13th. Barclays increased their price target on Mr. Cooper Group from $130.00 to $147.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 8th. UBS Group lifted their price objective on Mr. Cooper Group from $135.00 to $145.00 and gave the company a "buy" rating in a research report on Wednesday, April 16th. Piper Sandler cut Mr. Cooper Group from an "overweight" rating to a "neutral" rating and lifted their price target for the company from $125.00 to $143.00 in a report on Friday, April 4th. Finally, Citizens Jmp downgraded shares of Mr. Cooper Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 1st. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $131.14.

Mr. Cooper Group Price Performance

COOP stock traded down $0.20 during midday trading on Monday, hitting $116.52. The company's stock had a trading volume of 173,468 shares, compared to its average volume of 568,815. Mr. Cooper Group Inc. has a twelve month low of $76.85 and a twelve month high of $137.60. The stock has a market capitalization of $7.46 billion, a P/E ratio of 11.44, a PEG ratio of 0.32 and a beta of 1.17. The company's fifty day moving average price is $111.25 and its 200 day moving average price is $102.56.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $2.97 earnings per share for the quarter, topping analysts' consensus estimates of $2.81 by $0.16. Mr. Cooper Group had a net margin of 30.07% and a return on equity of 14.76%. The business had revenue of $560.00 million for the quarter, compared to the consensus estimate of $620.57 million. Equities analysts expect that Mr. Cooper Group Inc. will post 13.17 EPS for the current fiscal year.

Insider Activity

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $112.24, for a total value of $3,367,200.00. Following the transaction, the chief executive officer now directly owns 698,821 shares of the company's stock, valued at $78,435,669.04. This represents a 4.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.33% of the company's stock.

About Mr. Cooper Group

Mr. Cooper Group Inc, together with its subsidiaries, operates as a non-bank servicer of residential mortgage loans in the United States. The company operates through Servicing and Originations segments. The Servicing segment performs activities on behalf of investors or owners of the underlying mortgages and mortgage servicing rights, including collecting and disbursing borrower payments, investor reporting, customer service, modifying loans, performing collections, foreclosures, and the sale of real estate owned.