Federated Hermes Inc. Decreases Holdings in Mr. Cooper Group Inc (NASDAQ:COOP)

Key Points

• Federated Hermes Inc. reduced its stake in Mr. Cooper Group Inc by 40.8%, now holding 12,405 shares valued at approximately $1.48 million as of the latest SEC filing.
• Analysts have set new price targets for Mr. Cooper Group, with the average target at $140.38; UBS Group set a target of $176.00 while Piper Sandler increased theirs from $143.00 to $158.00.
• Mr. Cooper Group's recent earnings report showed an EPS of $3.13, falling short of the expected $3.28 and marking an 8.6% revenue increase year-over-year.

Federated Hermes Inc. decreased its holdings in Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 40.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,405 shares of the company's stock after selling 8,551 shares during the period. Federated Hermes Inc.'s holdings in Mr. Cooper Group were worth $1,484,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of COOP. Allworth Financial LP boosted its position in Mr. Cooper Group by 24.5% during the 1st 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. Sage Rhino Capital LLC lifted its stake in shares of 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 purchasing an additional 98 shares during the last quarter. Penbrook Management LLC boosted its position in Mr. Cooper Group by 0.6% during the first quarter. Penbrook Management LLC now owns 15,825 shares of the company's stock valued at $1,893,000 after purchasing an additional 100 shares in the last quarter. CWM LLC boosted its position 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 purchasing an additional 134 shares in the last quarter. Finally, MorganRosel Wealth Management LLC grew its stake in Mr. Cooper Group by 1.2% in the first quarter. MorganRosel Wealth Management LLC now owns 13,544 shares of the company's stock valued at $1,620,000 after purchasing an additional 154 shares during the last quarter. Hedge funds and other institutional investors own 89.82% of the company's stock.

Mr. Cooper Group Price Performance

COOP traded down $4.88 on Thursday, reaching $185.88. 656,653 shares of the stock were exchanged, compared to its average volume of 1,184,779. Mr. Cooper Group Inc has a fifty-two week low of $83.80 and a fifty-two week high of $193.86. The company's 50-day moving average price is $151.13 and its 200 day moving average price is $126.38. The firm has a market capitalization of $11.89 billion, a PE ratio of 21.27 and a beta of 0.98.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $3.13 EPS for the quarter, missing the consensus estimate of $3.28 by ($0.15). The business had revenue of $608.00 million for the quarter, compared to analyst estimates of $669.23 million. Mr. Cooper Group had a net margin of 25.38% and a return on equity of 15.66%. The business's revenue was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.10 earnings per share. As a group, equities analysts forecast that Mr. Cooper Group Inc will post 13.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insider Buying and Selling at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the firm's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $174.72, for a total transaction of $5,241,600.00. Following the sale, the chief executive officer directly owned 663,187 shares in the company, valued at $115,872,032.64. This trade represents a 4.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company 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.