Assenagon Asset Management S.A. Lowers Stake in Mr. Cooper Group Inc $COOP

Key Points

• Assenagon Asset Management S.A. reduced its stake in Mr. Cooper Group Inc by 42.6%, holding 606,758 shares post-sale, valued at approximately $90.5 million.
• In contrast, GAMMA Investing LLC significantly increased its position in Mr. Cooper Group by 14,148%, now owning 311,319 shares worth $37.2 million.
• Mr. Cooper Group's stock has recently seen a 2.5% decline and reported earnings of $3.13 per share, missing analyst expectations by $0.15.

Assenagon Asset Management S.A. lowered its position in shares of Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 42.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 606,758 shares of the company's stock after selling 450,418 shares during the period. Assenagon Asset Management S.A. owned 0.95% of Mr. Cooper Group worth $90,534,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Invesco Ltd. grew its stake in Mr. Cooper Group by 11.8% during the first quarter. Invesco Ltd. now owns 2,013,536 shares of the company's stock valued at $240,819,000 after acquiring an additional 213,167 shares in the last quarter. Principal Financial Group Inc. grew its stake in Mr. Cooper Group by 2.1% in the 1st quarter. Principal Financial Group Inc. now owns 371,551 shares of the company's stock worth $44,437,000 after buying an additional 7,799 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Mr. Cooper Group by 14,148.0% in the 1st quarter. GAMMA Investing LLC now owns 311,319 shares of the company's stock valued at $37,234,000 after purchasing an additional 309,134 shares in the last quarter. Public Sector Pension Investment Board raised its holdings in Mr. Cooper Group by 42.4% during the 1st quarter. Public Sector Pension Investment Board now owns 227,117 shares of the company's stock valued at $27,163,000 after buying an additional 67,657 shares during the last quarter. Finally, Lodge Hill Capital LLC grew its holdings in Mr. Cooper Group by 27.8% in the 1st quarter. Lodge Hill Capital LLC now owns 213,000 shares of the company's stock worth $25,475,000 after acquiring an additional 46,360 shares during the last quarter. Hedge funds and other institutional investors own 89.82% of the company's stock.

Mr. Cooper Group Stock Performance

Shares of Mr. Cooper Group stock traded up $0.18 during trading on Tuesday, hitting $214.31. The company's stock had a trading volume of 525,514 shares, compared to its average volume of 970,676. The company has a fifty day simple moving average of $187.09 and a two-hundred day simple moving average of $147.45. The company has a market capitalization of $13.71 billion, a PE ratio of 24.55 and a beta of 0.97. Mr. Cooper Group Inc has a 52 week low of $84.68 and a 52 week high of $234.73.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last released its quarterly earnings data 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). The firm had revenue of $608.00 million for the quarter, compared to the consensus estimate of $669.23 million. Mr. Cooper Group had a net margin of 25.38% and a return on equity of 15.66%. The firm's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.10 earnings per share. As a group, analysts predict that Mr. Cooper Group Inc will post 13.17 EPS for the current year.

Mr. Cooper Group Dividend Announcement

The company also recently declared a special dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Monday, September 29th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, September 29th.

Insiders Place Their Bets

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $182.43, for a total transaction of $5,472,900.00. Following the transaction, the chief executive officer owned 633,187 shares of the company's stock, valued at $115,512,304.41. The trade was a 4.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 90,000 shares of company stock worth $15,278,700 over the last quarter. 2.33% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on COOP shares. Jefferies Financial Group boosted their price objective on shares of Mr. Cooper Group from $110.00 to $150.00 and gave the company a "hold" rating in a research report on Tuesday, July 22nd. Piper Sandler upped their price objective 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. UBS Group set a $176.00 price objective on shares of Mr. Cooper Group in a report on Tuesday, August 5th. Finally, Barclays upped their price objective 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. 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 currently has an average rating of "Hold" and a consensus target price 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.