Magnetar Financial LLC Invests $3.56 Million in Mr. Cooper Group Inc $COOP

Key Points

• Magnetar Financial LLC has acquired 29,779 shares of Mr. Cooper Group Inc, valued at approximately $3.56 million, marking a significant new stake by the institutional investor.
• CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group's stock for approximately $5.24 million, resulting in a 4.33% decrease in his ownership.
• Mr. Cooper Group reported $3.13 earnings per share for the last quarter, missing analysts' expectations, with a planned target EPS of 13.17 for the current year.

Magnetar Financial LLC purchased a new position in Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 29,779 shares of the company's stock, valued at approximately $3,562,000.

A number of other institutional investors have also recently bought and sold shares of COOP. Integrated Wealth Concepts LLC increased its stake in Mr. Cooper Group by 24.4% in the 4th quarter. Integrated Wealth Concepts LLC now owns 3,779 shares of the company's stock worth $363,000 after purchasing an additional 742 shares in the last quarter. Northern Trust Corp boosted its position in Mr. Cooper Group by 6.8% during the 4th quarter. Northern Trust Corp now owns 835,369 shares of the company's stock worth $80,204,000 after acquiring an additional 53,534 shares during the period. Lido Advisors LLC boosted its position in Mr. Cooper Group by 28.0% during the 4th quarter. Lido Advisors LLC now owns 3,247 shares of the company's stock worth $312,000 after acquiring an additional 711 shares during the period. Mercer Global Advisors Inc. ADV boosted its position in Mr. Cooper Group by 13.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 9,462 shares of the company's stock worth $908,000 after acquiring an additional 1,140 shares during the period. Finally, 140 Summer Partners LP acquired a new stake in Mr. Cooper Group during the 4th quarter worth about $69,959,000. Hedge funds and other institutional investors own 89.82% of the company's stock.

Analysts Set New Price Targets

COOP has been the subject of several research reports. Jefferies Financial Group lifted their price target on Mr. Cooper Group from $110.00 to $150.00 and gave the company a "hold" rating in a report on Tuesday, July 22nd. Barclays boosted their target price on Mr. Cooper Group from $147.00 to $156.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Piper Sandler boosted their target price on Mr. Cooper Group from $143.00 to $158.00 and gave the stock a "neutral" rating in a report on Tuesday, July 1st. Finally, UBS Group set a $176.00 price target on Mr. Cooper Group in a research report on Tuesday, August 5th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $140.38.

Insider Buying and Selling at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $174.72, for a total transaction of $5,241,600.00. Following the sale, the chief executive officer owned 663,187 shares of the company's stock, valued at $115,872,032.64. This represents a 4.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.73% of the company's stock.

Mr. Cooper Group Price Performance

Shares of COOP traded up $7.16 on Thursday, reaching $196.40. 220,978 shares of the stock traded hands, compared to its average volume of 976,475. The firm has a market cap of $12.57 billion, a price-to-earnings ratio of 22.44 and a beta of 0.98. Mr. Cooper Group Inc has a 12 month low of $84.15 and a 12 month high of $203.42. The stock's 50-day moving average price is $169.77 and its 200-day moving average price is $137.37.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $3.13 earnings per share for the quarter, missing analysts' consensus estimates of $3.28 by ($0.15). Mr. Cooper Group had a net margin of 25.38% and a return on equity of 15.66%. The company had revenue of $608.00 million during the quarter, compared to the consensus estimate of $669.23 million. During the same quarter last year, the company earned $3.10 earnings per share. The business's revenue was up 8.6% on a year-over-year basis. As a group, equities research analysts forecast that Mr. Cooper Group Inc will post 13.17 earnings per share for the current fiscal year.

Mr. Cooper Group Company Profile

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.