Caitong International Asset Management Co. Ltd Takes Position in Mr. Cooper Group Inc (NASDAQ:COOP)

Key Points

• Caitong International Asset Management Co. Ltd has made a new investment of approximately $1.09 million in Mr. Cooper Group Inc, purchasing 9,118 shares, which represents 0.8% of its investment portfolio.
• Institutional investors collectively own 89.82% of Mr. Cooper Group's stock, with notable increases from several firms during the fourth quarter.
• Mr. Cooper Group's recent earnings report revealed a miss on consensus estimates, reporting $3.13 earnings per share compared to the expected $3.28, despite an 8.6% increase in revenue year-over-year.

Caitong International Asset Management Co. Ltd purchased a new position in Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 9,118 shares of the company's stock, valued at approximately $1,091,000. Mr. Cooper Group makes up about 0.8% of Caitong International Asset Management Co. Ltd's portfolio, making the stock its 14th largest holding.

Several other institutional investors have also modified their holdings of the business. Invesco Ltd. grew its stake in shares of Mr. Cooper Group by 11.8% in the first quarter. Invesco Ltd. now owns 2,013,536 shares of the company's stock worth $240,819,000 after acquiring an additional 213,167 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Mr. Cooper Group by 13.9% during the first quarter. Assenagon Asset Management S.A. now owns 1,057,176 shares of the company's stock worth $126,438,000 after purchasing an additional 129,414 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Mr. Cooper Group by 16.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 871,902 shares of the company's stock worth $83,712,000 after purchasing an additional 125,897 shares in the last quarter. Northern Trust Corp grew its stake in shares of Mr. Cooper Group by 6.8% during the fourth quarter. Northern Trust Corp now owns 835,369 shares of the company's stock worth $80,204,000 after purchasing an additional 53,534 shares in the last quarter. Finally, Cercano Management LLC grew its stake in shares of Mr. Cooper Group by 66.5% during the fourth quarter. Cercano Management LLC now owns 790,753 shares of the company's stock worth $75,920,000 after purchasing an additional 315,801 shares in the last quarter. Institutional investors and hedge funds own 89.82% of the company's stock.

Insider Transactions at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the company's stock in a transaction on Friday, August 1st. The shares were 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 owned 663,187 shares in the company, valued at $115,872,032.64. This represents a 4.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.73% of the stock is owned by corporate insiders.

Mr. Cooper Group Stock Performance

NASDAQ COOP traded down $9.26 during trading hours on Thursday, hitting $193.60. The company had a trading volume of 823,541 shares, compared to its average volume of 1,192,921. Mr. Cooper Group Inc has a 1-year low of $84.15 and a 1-year high of $203.42. The company has a market cap of $12.39 billion, a PE ratio of 22.15 and a beta of 0.98. The business has a 50 day moving average of $157.01 and a 200-day moving average of $129.32.

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 (EPS) for the quarter, missing the consensus estimate of $3.28 by ($0.15). Mr. Cooper Group had a net margin of 25.38% and a return on equity of 15.66%. The company had revenue of $608.00 million during the quarter, compared to analyst estimates of $669.23 million. During the same quarter in the prior year, the company earned $3.10 EPS. The business's revenue was up 8.6% on a year-over-year basis. Sell-side analysts expect that Mr. Cooper Group Inc will post 13.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

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