Avantax Advisory Services Inc. Invests $313,000 in Mr. Cooper Group Inc (NASDAQ:COOP)

Key Points

• Avantax Advisory Services Inc. acquired 2,619 shares of Mr. Cooper Group Inc, valued at approximately $313,000, during the first quarter.
• Multiple analysts have recently adjusted target prices for Mr. Cooper Group, with a consensus rating of "Hold" and an average target price of $140.38.
• Mr. Cooper Group reported quarterly earnings of $3.13 per share, missing the consensus estimate of $3.28, with a revenue of $608 million, below analyst expectations.

Avantax Advisory Services Inc. purchased a new position in shares of Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,619 shares of the company's stock, valued at approximately $313,000.

A number of other hedge funds have also bought and sold shares of COOP. First Horizon Advisors Inc. bought a new stake in shares of Mr. Cooper Group in the first quarter valued at $26,000. Allworth Financial LP raised its stake in shares of Mr. Cooper Group by 24.5% in the first 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 period. USA Financial Formulas bought a new stake in shares of Mr. Cooper Group in the first quarter valued at $55,000. Kapitalo Investimentos Ltda bought a new stake in shares of Mr. Cooper Group in the fourth quarter valued at $70,000. Finally, Covestor Ltd raised its stake in shares of 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. 89.82% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Jesse K. Bray sold 30,000 shares of the business's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $174.72, for a total transaction of $5,241,600.00. Following the completion of the transaction, the chief executive officer directly owned 663,187 shares in the company, valued at $115,872,032.64. The trade was a 4.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.33% of the stock is currently owned by insiders.

Mr. Cooper Group Stock Performance

Mr. Cooper Group stock traded up $2.73 during midday trading on Monday, hitting $180.09. 83,357 shares of the company's stock were exchanged, compared to its average volume of 996,432. Mr. Cooper Group Inc has a 52-week low of $84.15 and a 52-week high of $193.86. The stock has a 50-day moving average price of $152.09 and a two-hundred day moving average price of $127.23. The company has a market cap of $11.52 billion, a P/E ratio of 20.61 and a beta of 0.98.

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 the consensus estimate of $3.28 by ($0.15). Mr. Cooper Group had a return on equity of 15.66% and a net margin of 25.38%. The business had revenue of $608.00 million for the quarter, compared to analysts' expectations of $669.23 million. During the same quarter in the previous year, the firm earned $3.10 earnings per share. Mr. Cooper Group's quarterly revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts expect that Mr. Cooper Group Inc will post 13.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on COOP shares. UBS Group set a $176.00 target price on Mr. Cooper Group in a research note on Tuesday, August 5th. Barclays boosted their price objective on Mr. Cooper Group from $147.00 to $156.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Jefferies Financial Group boosted their price objective on Mr. Cooper Group from $110.00 to $150.00 and gave the company a "hold" rating in a research note on Tuesday, July 22nd. Finally, Piper Sandler boosted their price objective on Mr. Cooper Group from $143.00 to $158.00 and gave the company a "neutral" rating in a research note on Tuesday, July 1st. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Mr. Cooper Group currently has an average rating of "Hold" and an average target price of $140.38.

About Mr. Cooper Group

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.