Credit Agricole S A Acquires 9,750 Shares of Mr. Cooper Group Inc $COOP

Key Points

• Credit Agricole S A increased its stake in Mr. Cooper Group Inc by 68.7% in the first quarter, owning 23,942 shares valued at approximately $2.86 million.
• Analysts are optimistic about Mr. Cooper Group, with Barclays and Piper Sandler raising their price targets significantly, and the stock currently has an average rating of "Hold."
• CEO Jesse K. Bray sold 30,000 shares of the company at an average price of $174.72, decreasing his stake by 4.33% while maintaining over $115 million in personal holdings.

Credit Agricole S A boosted its position in shares of Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 68.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,942 shares of the company's stock after acquiring an additional 9,750 shares during the period. Credit Agricole S A's holdings in Mr. Cooper Group were worth $2,863,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. First Horizon Advisors Inc. purchased a new position in Mr. Cooper Group during the first quarter valued at approximately $26,000. Allworth Financial LP grew its stake in Mr. Cooper Group by 24.5% during the first quarter. Allworth Financial LP now owns 442 shares of the company's stock valued at $51,000 after acquiring an additional 87 shares in the last quarter. USA Financial Formulas purchased a new position in Mr. Cooper Group during the first quarter valued at approximately $55,000. Kapitalo Investimentos Ltda purchased a new position in Mr. Cooper Group during the fourth quarter valued at approximately $70,000. Finally, CWM LLC grew its stake in Mr. Cooper Group by 20.7% during the first quarter. CWM LLC now owns 781 shares of the company's stock valued at $93,000 after acquiring an additional 134 shares in the last quarter. Hedge funds and other institutional investors own 89.82% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on COOP shares. Piper Sandler boosted their price objective on shares of 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 boosted their price target 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. Barclays boosted their price target 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. Finally, UBS Group set a $176.00 price target on shares of Mr. Cooper Group in a research note on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $140.38.

Mr. Cooper Group Price Performance

COOP stock traded down $1.01 during midday trading on Friday, reaching $187.28. The company had a trading volume of 174,212 shares, compared to its average volume of 979,451. The company has a market capitalization of $11.98 billion, a P/E ratio of 21.46 and a beta of 0.98. Mr. Cooper Group Inc has a 1 year low of $84.15 and a 1 year high of $203.42. The firm has a 50-day moving average price of $166.95 and a 200-day moving average price of $135.17.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $608.00 million during the quarter, compared to the consensus estimate of $669.23 million. Mr. Cooper Group had a return on equity of 15.66% and a net margin of 25.38%.The company's revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.10 earnings per share. On average, equities analysts predict that Mr. Cooper Group Inc will post 13.17 EPS for the current year.

Insider Buying and Selling at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the business's stock in a transaction that occurred 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 sale, 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 can be accessed through this hyperlink. Insiders own 1.73% 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.