Cetera Investment Advisers Grows Stake in Mr. Cooper Group Inc (NASDAQ:COOP)

Key Points

• Cetera Investment Advisers increased its stake in Mr. Cooper Group by 24.7%, acquiring an additional 3,220 shares, bringing their total holdings to 16,251 shares valued at approximately $1.94 million.
• Mr. Cooper Group's recent quarterly earnings report showed an EPS of $3.13, missing expectations, with revenue of $608 million versus anticipated $669 million.
• In recent analyst activities, Barclays raised their price target for Mr. Cooper Group from $147 to $156, maintaining an "overweight" rating, while the stock overall carries an average rating of "Hold".

Cetera Investment Advisers raised its position in shares of Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 24.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,251 shares of the company's stock after purchasing an additional 3,220 shares during the quarter. Cetera Investment Advisers' holdings in Mr. Cooper Group were worth $1,944,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. 140 Summer Partners LP acquired a new stake in Mr. Cooper Group during the fourth quarter valued at $69,959,000. Cercano Management LLC boosted its position in Mr. Cooper Group by 66.5% during the fourth quarter. Cercano Management LLC now owns 790,753 shares of the company's stock valued at $75,920,000 after purchasing an additional 315,801 shares during the last quarter. GAMMA Investing LLC boosted its position in Mr. Cooper Group by 14,148.0% during the first 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 during the last quarter. Assenagon Asset Management S.A. boosted its position in 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 valued at $126,438,000 after purchasing an additional 129,414 shares during the last quarter. Finally, Lodge Hill Capital LLC boosted its position in Mr. Cooper Group by 315.6% during the fourth quarter. Lodge Hill Capital LLC now owns 166,640 shares of the company's stock valued at $15,999,000 after purchasing an additional 126,540 shares during the last quarter. 89.82% of the stock is owned by institutional investors.

Mr. Cooper Group Trading Up 3.7%

Shares of COOP stock traded up $7.00 on Wednesday, hitting $198.75. The stock had a trading volume of 435,274 shares, compared to its average volume of 996,785. Mr. Cooper Group Inc has a twelve month low of $84.15 and a twelve month high of $199.32. The firm has a market cap of $12.72 billion, a P/E ratio of 22.69 and a beta of 0.98. The company has a fifty day moving average price of $154.32 and a two-hundred day moving average price of $128.21.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last announced its earnings results 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 company had revenue of $608.00 million during the quarter, compared to analyst estimates of $669.23 million. Mr. Cooper Group had a return on equity of 15.66% and a net margin of 25.38%. Mr. Cooper Group's revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $3.10 earnings per share. On average, analysts expect that Mr. Cooper Group Inc will post 13.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

COOP has been the topic of several recent research reports. Piper Sandler raised their target price on Mr. Cooper Group from $143.00 to $158.00 and gave the company a "neutral" rating in a report on Tuesday, July 1st. Jefferies Financial Group raised their target price on Mr. Cooper Group from $110.00 to $150.00 and gave the company a "hold" rating in a report on Tuesday, July 22nd. Barclays raised their target price on Mr. Cooper Group from $147.00 to $156.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Finally, UBS Group set a $176.00 target price on Mr. Cooper Group in a report on Tuesday, August 5th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $140.38.

Insider Activity

In related news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction on Friday, August 1st. The shares were 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 owned 663,187 shares of the company's stock, valued at $115,872,032.64. This trade represents a 4.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.33% of the company's stock.

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.