Clark Capital Management Group Inc. Grows Position in Mr. Cooper Group Inc $COOP

Key Points

• Clark Capital Management Group Inc. increased its stake in Mr. Cooper Group by 16.4%, acquiring an additional 12,665 shares for a total of 90,044 shares worth approximately $10.77 million.
• Analysts have varied outlooks on Mr. Cooper Group, with price targets ranging from $150.00 to $176.00, and a consensus rating of "Hold" with an average target of $140.38.
• CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group at an average price of $182.43, which reflects a 4.52% decrease in his ownership stake.

Clark Capital Management Group Inc. increased its holdings in shares of Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 16.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 90,044 shares of the company's stock after buying an additional 12,665 shares during the quarter. Clark Capital Management Group Inc. owned about 0.14% of Mr. Cooper Group worth $10,769,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. TIG Advisors LLC acquired a new position in Mr. Cooper Group during the 1st quarter valued at approximately $4,853,000. Maverick Capital Ltd. grew its holdings in shares of Mr. Cooper Group by 102.4% in the 1st quarter. Maverick Capital Ltd. now owns 6,629 shares of the company's stock worth $793,000 after acquiring an additional 3,354 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Mr. Cooper Group by 37.1% during the first quarter. Royal Bank of Canada now owns 47,827 shares of the company's stock valued at $5,720,000 after buying an additional 12,954 shares in the last quarter. Vident Advisory LLC grew its holdings in shares of Mr. Cooper Group by 115.4% during the first quarter. Vident Advisory LLC now owns 4,499 shares of the company's stock valued at $538,000 after buying an additional 2,410 shares in the last quarter. Finally, Evergreen Capital Management LLC grew its holdings in shares of Mr. Cooper Group by 3.2% during the first quarter. Evergreen Capital Management LLC now owns 5,504 shares of the company's stock valued at $658,000 after buying an additional 173 shares in the last quarter. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

Mr. Cooper Group Stock Performance

NASDAQ COOP traded up $8.90 on Wednesday, hitting $224.19. The stock had a trading volume of 402,149 shares, compared to its average volume of 971,210. The firm has a 50-day moving average of $174.65 and a 200-day moving average of $140.42. The company has a market capitalization of $14.35 billion, a price-to-earnings ratio of 25.65 and a beta of 0.97. Mr. Cooper Group Inc has a 52-week low of $84.15 and a 52-week high of $231.52.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $3.13 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $669.23 million. During the same quarter in the previous year, the business earned $3.10 EPS. Mr. Cooper Group's revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, research analysts anticipate that Mr. Cooper Group Inc will post 13.17 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Jesse K. Bray sold 30,000 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $182.43, for a total value of $5,472,900.00. Following the completion of the sale, the chief executive officer owned 633,187 shares in the company, valued at approximately $115,512,304.41. This trade represents a 4.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have sold 90,000 shares of company stock valued at $15,278,700. 2.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Jefferies Financial Group boosted their price objective on Mr. Cooper Group from $110.00 to $150.00 and gave the stock a "hold" rating in a research report on Tuesday, July 22nd. Piper Sandler increased their price target 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. UBS Group set a $176.00 target price on Mr. Cooper Group in a report on Tuesday, August 5th. Finally, Barclays raised their target price 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. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Mr. Cooper Group presently has a consensus rating of "Hold" and a consensus price target of $140.38.

Mr. Cooper Group Company 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.