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

Other institutional investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. purchased a new stake in shares of Mr. Cooper Group during the 1st quarter worth approximately $26,000. Allworth Financial LP boosted 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 acquiring an additional 87 shares in the last quarter. USA Financial Formulas purchased a new stake in shares of Mr. Cooper Group during the 1st quarter worth approximately $55,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Mr. Cooper Group during the 4th quarter worth approximately $70,000. Finally, Covestor Ltd raised its position in shares of Mr. Cooper Group by 418.9% during the 4th quarter. Covestor Ltd now owns 742 shares of the company's stock worth $71,000 after purchasing an additional 599 shares during the last quarter. Hedge funds and other institutional investors own 89.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on COOP shares. UBS Group set a $176.00 target price on Mr. Cooper Group in a research note on Tuesday. Piper Sandler upped their target price 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. Jefferies Financial Group upped their target price 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, Barclays upped their target price 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. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, Mr. Cooper Group presently has a consensus rating of "Hold" and an average target price of $140.38.

Mr. Cooper Group Stock Performance

Shares of COOP opened at $185.88 on Friday. The stock has a fifty day moving average of $151.13 and a two-hundred day moving average of $126.38. The company has a market capitalization of $11.89 billion, a PE ratio of 21.27 and a beta of 0.98. Mr. Cooper Group Inc has a fifty-two week low of $83.80 and a fifty-two week high of $193.86.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $3.13 earnings per share for the quarter, missing the consensus estimate of $3.28 by ($0.15). The business had revenue of $608.00 million during the quarter, compared to analyst estimates 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 quarter last year, the firm posted $3.10 earnings per share. As a group, equities research analysts forecast that Mr. Cooper Group Inc will post 13.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $174.72, for a total value 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 approximately $115,872,032.64. The trade was a 4.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.73% of the company's stock.

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.

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