Cynosure Group LLC Has $1.20 Million Position in Mr. Cooper Group Inc (NASDAQ:COOP)

Key Points

• Cynosure Group LLC increased its stake in Mr. Cooper Group by 62.8%, acquiring an additional 3,871 shares, bringing its total holdings to 10,037 shares valued at approximately $1.2 million.
• CEO Jesse K. Bray sold 30,000 shares for over $5.24 million, resulting in a 4.33% decrease in his position, but he still retains around 663,187 shares valued at about $115.87 million.
• Analysts have mixed views on Mr. Cooper Group, with a consensus rating of "Hold" and a price target averaging around $140.38, while stock performance shows a 1-year low of $84.15 and a high of $193.86.

Cynosure Group LLC grew its position in shares of Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 62.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,037 shares of the company's stock after acquiring an additional 3,871 shares during the quarter. Cynosure Group LLC's holdings in Mr. Cooper Group were worth $1,200,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Invesco Ltd. grew its position in Mr. Cooper Group by 5.2% in the 4th quarter. Invesco Ltd. now owns 1,800,369 shares of the company's stock worth $172,853,000 after purchasing an additional 89,544 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Mr. Cooper Group by 13.9% in 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 increased its holdings 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 valued at $83,712,000 after purchasing an additional 125,897 shares during the period. Northern Trust Corp lifted its holdings in Mr. Cooper Group by 6.8% in 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 during the period. Finally, Cercano Management LLC lifted its holdings in Mr. Cooper Group by 66.5% in 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 during the period. Institutional investors own 89.82% of the company's stock.

Insider Buying and Selling at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 30,000 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.73% of the stock is owned by corporate insiders.

Mr. Cooper Group Stock Up 5.5%

Shares of COOP traded up $10.55 during midday trading on Wednesday, reaching $202.30. 812,804 shares of the stock were exchanged, compared to its average volume of 999,276. The company has a market cap of $12.95 billion, a price-to-earnings ratio of 23.16 and a beta of 0.98. Mr. Cooper Group Inc has a 12-month low of $84.15 and a 12-month high of $200.42. The firm has a 50 day simple moving average of $154.32 and a 200-day simple moving average of $128.21.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $3.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $608.00 million during the quarter, compared to analyst estimates of $669.23 million. During the same quarter last year, the firm earned $3.10 earnings per share. Mr. Cooper Group's revenue was up 8.6% compared to the same quarter last year. Research analysts expect that Mr. Cooper Group Inc will post 13.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on COOP shares. 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. UBS Group set a $176.00 price target on shares of Mr. Cooper Group in a research report on Tuesday, August 5th. Piper Sandler upped their price target on shares of Mr. Cooper Group from $143.00 to $158.00 and gave the company a "neutral" rating in a report on Tuesday, July 1st. 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 report on Tuesday, July 22nd. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target 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.