TIG Advisors LLC Invests $4.85 Million in Mr. Cooper Group Inc $COOP

Key Points

• TIG Advisors LLC purchased 40,573 shares of Mr. Cooper Group Inc, valued at approximately $4.85 million, during the first quarter.
• CEO Jesse K. Bray sold 30,000 shares of the company stock, resulting in a 4.33% decrease in his ownership, now valued at approximately $115.87 million.
• Mr. Cooper Group reported $3.13 earnings per share in its latest quarterly earnings, missing estimates by $0.15, with revenue up 8.6% year-over-year.

TIG Advisors LLC bought a new stake in Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 40,573 shares of the company's stock, valued at approximately $4,853,000. TIG Advisors LLC owned approximately 0.06% of Mr. Cooper Group as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of COOP. First Horizon Advisors Inc. bought a new stake in Mr. Cooper Group in the 1st quarter valued at approximately $26,000. Allworth Financial LP raised its stake in shares of Mr. Cooper Group by 24.5% during the 1st quarter. Allworth Financial LP now owns 442 shares of the company's stock worth $51,000 after purchasing an additional 87 shares in the last quarter. USA Financial Formulas bought a new stake in shares of Mr. Cooper Group during the 1st quarter worth approximately $55,000. SVB Wealth LLC bought a new stake in shares of Mr. Cooper Group during the 1st quarter worth approximately $62,000. Finally, CWM LLC raised its stake in shares of 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 in the last quarter. Institutional investors own 89.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on COOP shares. UBS Group set a $176.00 price objective on Mr. Cooper Group in a research note on Tuesday, August 5th. Barclays upped their price objective on Mr. Cooper Group from $147.00 to $156.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Piper Sandler upped their price objective on Mr. Cooper Group from $143.00 to $158.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 1st. Finally, Jefferies Financial Group upped their price objective on Mr. Cooper Group from $110.00 to $150.00 and gave the stock a "hold" rating in a research note on Tuesday, July 22nd. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $140.38.

Insider Activity

In other news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $182.43, for a total transaction of $5,472,900.00. Following the sale, the chief executive officer directly owned 633,187 shares of the company's stock, valued at approximately $115,512,304.41. This represents a 4.52% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 90,000 shares of company stock worth $15,278,700. Corporate insiders own 1.73% of the company's stock.

Mr. Cooper Group Price Performance

NASDAQ COOP traded up $10.50 on Friday, reaching $213.11. The stock had a trading volume of 1,008,778 shares, compared to its average volume of 738,189. The firm has a fifty day moving average of $172.07 and a two-hundred day moving average of $138.75. Mr. Cooper Group Inc has a 1-year low of $84.15 and a 1-year high of $216.79. The company has a market cap of $13.64 billion, a P/E ratio of 24.38 and a beta of 0.98.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $3.13 earnings per share (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 revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the company posted $3.10 earnings per share. Research analysts predict that Mr. Cooper Group Inc will post 13.17 EPS 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.