Alpine Associates Management Inc. Invests $10.72 Million in Mr. Cooper Group Inc (NASDAQ:COOP)

Key Points

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Alpine Associates Management Inc. acquired a new stake in shares of 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 Securities and Exchange Commission. The institutional investor acquired 89,600 shares of the company's stock, valued at approximately $10,716,000. Alpine Associates Management Inc. owned about 0.14% of Mr. Cooper Group as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. First Horizon Advisors Inc. bought a new stake in shares of Mr. Cooper Group during the first quarter worth $26,000. Allworth Financial LP boosted its position in Mr. Cooper Group by 24.5% during the first quarter. Allworth Financial LP now owns 442 shares of the company's stock valued at $51,000 after purchasing an additional 87 shares during the last quarter. USA Financial Formulas bought a new stake in Mr. Cooper Group in the first quarter valued at approximately $55,000. Kapitalo Investimentos Ltda bought a new stake in Mr. Cooper Group in the fourth quarter valued at approximately $70,000. Finally, Covestor Ltd raised its stake in Mr. Cooper Group by 418.9% in the fourth quarter. Covestor Ltd now owns 742 shares of the company's stock valued at $71,000 after buying an additional 599 shares during the period. Institutional investors and hedge funds 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 the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $152.14, for a total transaction of $4,564,200.00. Following the completion of the transaction, the chief executive officer owned 693,187 shares of the company's stock, valued at approximately $105,461,470.18. This trade represents a 4.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.73% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on COOP. Piper Sandler increased their price target on Mr. Cooper Group from $143.00 to $158.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 1st. Jefferies Financial Group raised their price objective on Mr. Cooper Group from $110.00 to $150.00 and gave the company a "hold" rating in a report on Tuesday, July 22nd. Keefe, Bruyette & Woods raised their price objective on Mr. Cooper Group from $115.00 to $143.00 and gave the company a "market perform" rating in a report on Tuesday, April 8th. UBS Group reaffirmed a "neutral" rating and set a $156.00 target price on shares of Mr. Cooper Group in a report on Tuesday, July 15th. Finally, Barclays boosted their target price on Mr. Cooper Group from $147.00 to $156.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $137.88.

Mr. Cooper Group Price Performance

Shares of COOP stock opened at $154.97 on Thursday. The company's 50-day simple moving average is $145.30 and its two-hundred day simple moving average is $123.08. Mr. Cooper Group Inc has a one year low of $80.35 and a one year high of $178.89. The company has a market capitalization of $9.92 billion, a P/E ratio of 17.73 and a beta of 1.05.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $3.13 EPS for the quarter, missing analysts' consensus estimates of $3.28 by ($0.15). The firm had revenue of $608.00 million for the quarter, compared to analysts' expectations of $669.23 million. Mr. Cooper Group had a net margin of 25.38% and a return on equity of 15.66%. The company's revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company earned $3.10 EPS. On average, research analysts expect that Mr. Cooper Group Inc will post 13.17 EPS for the current fiscal year.

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.

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