Bridgewater Advisors Inc. Increases Stake in Mr. Cooper Group Inc (NASDAQ:COOP)

Bridgewater Advisors Inc. lifted its stake in shares of Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 8.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,621 shares of the company's stock after buying an additional 2,505 shares during the quarter. Bridgewater Advisors Inc. owned about 0.05% of Mr. Cooper Group worth $4,022,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in Mr. Cooper Group during the fourth quarter valued at $4,081,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Mr. Cooper Group by 5.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,449 shares of the company's stock worth $1,483,000 after buying an additional 827 shares during the last quarter. HighTower Advisors LLC increased its position in Mr. Cooper Group by 1.6% during the 4th quarter. HighTower Advisors LLC now owns 25,917 shares of the company's stock valued at $2,488,000 after buying an additional 398 shares in the last quarter. Swiss National Bank raised its stake in Mr. Cooper Group by 0.3% during the fourth quarter. Swiss National Bank now owns 126,800 shares of the company's stock valued at $12,174,000 after buying an additional 400 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its holdings in Mr. Cooper Group by 2.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 4,984 shares of the company's stock worth $479,000 after acquiring an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 89.82% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on COOP shares. Piper Sandler raised their price target on Mr. Cooper Group from $143.00 to $158.00 and gave the company a "neutral" rating in a report on Tuesday, July 1st. Barclays raised their price objective on shares of Mr. Cooper Group from $147.00 to $156.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Citizens Jmp cut shares of Mr. Cooper Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 1st. UBS Group reiterated a "neutral" rating and set a $156.00 price target on shares of Mr. Cooper Group in a report on Tuesday. Finally, Keefe, Bruyette & Woods raised their price target on shares of Mr. Cooper Group from $115.00 to $143.00 and gave the company a "market perform" rating in a research report on Tuesday, April 8th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Mr. Cooper Group has a consensus rating of "Moderate Buy" and an average target price of $136.14.

Insider Activity

In related news, CEO Jesse K. Bray sold 30,000 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $152.14, for a total transaction of $4,564,200.00. Following the completion of the sale, the chief executive officer owned 693,187 shares in the company, valued at approximately $105,461,470.18. This represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.73% of the stock is currently owned by company insiders.

Mr. Cooper Group Stock Performance

Shares of COOP stock traded up $3.35 during trading hours on Wednesday, reaching $146.64. The company had a trading volume of 486,294 shares, compared to its average volume of 728,811. The business has a fifty day moving average price of $138.77 and a 200-day moving average price of $118.65. Mr. Cooper Group Inc has a one year low of $80.35 and a one year high of $158.00. The firm has a market cap of $9.38 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 0.42 and a beta of 1.05.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The company reported $2.97 EPS for the quarter, topping analysts' consensus estimates of $2.81 by $0.16. The business had revenue of $560.00 million during the quarter, compared to the consensus estimate of $620.57 million. Mr. Cooper Group had a net margin of 25.93% and a return on equity of 15.27%. The firm's revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.73 EPS. Equities research analysts forecast that Mr. Cooper Group Inc will post 13.17 EPS for the current year.

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.