Federated Hermes Inc. Has $1.48 Million Stake 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. trimmed its holdings in shares of Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 40.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Horizon Advisors Inc. purchased a new stake in Mr. Cooper Group in the 1st quarter worth approximately $26,000. Allworth Financial LP boosted its holdings in shares of Mr. Cooper Group by 24.5% in the 1st quarter. Allworth Financial LP now owns 442 shares of the company's stock valued at $51,000 after purchasing an additional 87 shares during the last quarter. USA Financial Formulas acquired a new position in shares of Mr. Cooper Group during the 1st quarter valued at $55,000. Kapitalo Investimentos Ltda purchased a new stake in Mr. Cooper Group during the 4th quarter worth $70,000. Finally, Covestor Ltd grew its position in shares of Mr. Cooper Group by 418.9% during the 4th quarter. Covestor Ltd now owns 742 shares of the company's stock valued at $71,000 after buying an additional 599 shares during the last quarter. 89.82% of the stock is owned by hedge funds and other institutional investors.

Mr. Cooper Group Stock Performance

COOP traded down $8.53 during midday trading on Friday, hitting $177.35. The company had a trading volume of 593,887 shares, compared to its average volume of 1,156,575. The company has a market capitalization of $11.35 billion, a PE ratio of 20.29 and a beta of 0.98. Mr. Cooper Group Inc has a twelve month low of $84.15 and a twelve month high of $193.86. The firm's 50-day simple moving average is $152.09 and its 200-day simple moving average is $127.06.

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 for the quarter, missing the consensus estimate 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 firm had revenue of $608.00 million for the quarter, compared to the consensus estimate of $669.23 million. During the same period in the previous year, the business earned $3.10 EPS. The firm's revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Mr. Cooper Group Inc will post 13.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the firm'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 transaction of $5,241,600.00. Following the sale, the chief executive officer directly owned 663,187 shares in the company, valued at approximately $115,872,032.64. This trade represents a 4.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.73% of the stock is owned by insiders.

Analysts Set New Price Targets

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