EMG Holdings L.P. Acquires 9,384 Shares of Mr. Cooper Group Inc $COOP

Key Points

• EMG Holdings L.P. increased its stake in Mr. Cooper Group Inc by 10.7%, owning 96,896 shares worth approximately $11.59 million, making it the second largest holding in their portfolio.
• Mr. Cooper Group's recent quarterly earnings report showed earnings per share of $3.13, falling short of the estimated $3.28, with revenue of $608 million against an expectation of $669.23 million.
• Institutional investors hold 89.82% of Mr. Cooper Group's stock, indicating strong institutional confidence, while recent analyst ratings suggest a mix of "Buy" and "Hold" ratings.

EMG Holdings L.P. grew its stake in shares of Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 10.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 96,896 shares of the company's stock after purchasing an additional 9,384 shares during the quarter. Mr. Cooper Group makes up 5.6% of EMG Holdings L.P.'s portfolio, making the stock its 2nd largest holding. EMG Holdings L.P. owned about 0.15% of Mr. Cooper Group worth $11,589,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Allworth Financial LP boosted its position in Mr. Cooper Group by 24.5% during the first quarter. Allworth Financial LP now owns 442 shares of the company's stock worth $51,000 after purchasing an additional 87 shares during the period. Sage Rhino Capital LLC grew its holdings in Mr. Cooper Group by 4.7% during the 1st quarter. Sage Rhino Capital LLC now owns 2,187 shares of the company's stock worth $262,000 after acquiring an additional 98 shares during the period. Penbrook Management LLC lifted its position in Mr. Cooper Group by 0.6% in the 1st quarter. Penbrook Management LLC now owns 15,825 shares of the company's stock valued at $1,893,000 after acquiring an additional 100 shares in the last quarter. CWM LLC lifted its position in Mr. Cooper Group by 20.7% during the 1st quarter. CWM LLC now owns 781 shares of the company's stock worth $93,000 after buying an additional 134 shares in the last quarter. Finally, MorganRosel Wealth Management LLC increased its stake in shares of Mr. Cooper Group by 1.2% during the 1st quarter. MorganRosel Wealth Management LLC now owns 13,544 shares of the company's stock worth $1,620,000 after purchasing an additional 154 shares during the last quarter. Institutional investors and hedge funds own 89.82% of the company's stock.

Mr. Cooper Group Price Performance

Shares of COOP traded up $0.24 on Friday, reaching $188.53. The company's stock had a trading volume of 814,668 shares, compared to its average volume of 920,758. Mr. Cooper Group Inc has a 12-month low of $84.15 and a 12-month high of $203.42. The stock has a market capitalization of $12.06 billion, a P/E ratio of 21.57 and a beta of 0.98. The stock's 50 day simple moving average is $167.73 and its two-hundred day simple moving average is $135.73.

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 for the quarter, compared to the consensus estimate of $669.23 million. During the same quarter in the previous year, the business earned $3.10 EPS. The company's quarterly revenue was up 8.6% on a year-over-year basis. Analysts expect that Mr. Cooper Group Inc will post 13.17 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on COOP. Piper Sandler increased 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 report on Tuesday, July 1st. UBS Group set a $176.00 price objective on shares of Mr. Cooper Group in a research note on Tuesday, August 5th. Barclays raised their price target on shares of Mr. Cooper Group from $147.00 to $156.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Finally, Jefferies Financial Group lifted 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. 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, the stock currently has a consensus 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 dated 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 $115,872,032.64. The trade was a 4.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 1.73% of the company's stock.

About Mr. Cooper Group

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.