Slotnik Capital LLC Purchases New Stake in Mr. Cooper Group Inc $COOP

Key Points

• Slotnik Capital LLC acquired 40,000 shares of Mr. Cooper Group Inc for approximately $4.78 million, making it the fund's 10th largest holding.
• The company's latest earnings report indicated an EPS of $3.13, missing estimates of $3.28, with revenues of $608 million compared to forecasted $669.23 million.
• After recent insider activity, including the sale of 30,000 shares by CEO Jesse K. Bray, insiders now hold about 2.33% of the company's stock.

Slotnik Capital LLC acquired a new position in shares of Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 40,000 shares of the company's stock, valued at approximately $4,784,000. Mr. Cooper Group accounts for 2.3% of Slotnik Capital LLC's investment portfolio, making the stock its 10th biggest holding. Slotnik Capital LLC owned 0.06% of Mr. Cooper Group at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in COOP. Allworth Financial LP raised its holdings in Mr. Cooper Group by 24.5% in the 1st quarter. Allworth Financial LP now owns 442 shares of the company's stock valued at $51,000 after buying an additional 87 shares during the last quarter. Sage Rhino Capital LLC raised its holdings in Mr. Cooper Group by 4.7% during the 1st quarter. Sage Rhino Capital LLC now owns 2,187 shares of the company's stock worth $262,000 after purchasing an additional 98 shares during the last quarter. Penbrook Management LLC raised its holdings in Mr. Cooper Group by 0.6% during the 1st quarter. Penbrook Management LLC now owns 15,825 shares of the company's stock worth $1,893,000 after purchasing an additional 100 shares during the last quarter. CWM LLC raised its holdings in Mr. Cooper Group by 20.7% during the 1st quarter. CWM LLC now owns 781 shares of the company's stock worth $93,000 after purchasing an additional 134 shares during the last quarter. Finally, MorganRosel Wealth Management LLC raised its holdings in Mr. Cooper Group by 1.2% during the 1st quarter. MorganRosel Wealth Management LLC now owns 13,544 shares of the company's stock worth $1,620,000 after purchasing an additional 154 shares during the last quarter. Institutional investors own 89.82% of the company's stock.

Insider Transactions at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $182.43, for a total value of $5,472,900.00. Following the completion of the sale, the chief executive officer owned 633,187 shares of the company's stock, valued at approximately $115,512,304.41. This trade represents a 4.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 90,000 shares of company stock valued at $15,278,700. Company insiders own 1.73% of the company's stock.

Mr. Cooper Group Stock Performance

Shares of COOP stock traded up $0.65 during trading hours on Friday, hitting $220.35. 504,969 shares of the company were exchanged, compared to its average volume of 737,687. The firm has a market cap of $14.10 billion, a P/E ratio of 25.21 and a beta of 0.98. Mr. Cooper Group Inc has a fifty-two week low of $84.68 and a fifty-two week high of $234.73. The company has a 50 day simple moving average of $178.70 and a two-hundred day simple moving average of $142.69.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on COOP. Barclays raised their price target on shares of Mr. Cooper Group from $147.00 to $156.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Jefferies Financial Group raised their price target on shares of Mr. Cooper Group from $110.00 to $150.00 and gave the stock a "hold" rating in a report on Tuesday, July 22nd. Piper Sandler raised their price target on shares of 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 shares of Mr. Cooper Group in a report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, Mr. Cooper Group has an average rating of "Hold" and a consensus price target of $140.38.

Mr. Cooper Group 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.