HGC Investment Management Inc. Takes $1.20 Million Position in Mr. Cooper Group Inc $COOP

Key Points

• HGC Investment Management Inc. has acquired 10,000 shares of Mr. Cooper Group Inc, valued at approximately $1,196,000, according to a recent SEC filing.
• Several hedge funds, including Clark Capital Management Group and Maverick Capital Ltd., have increased their stakes in Mr. Cooper Group, indicating growing institutional interest.
• The company's stock, trading under NASDAQ: COOP, has seen a price range between $84.15 and $203.42 over the past year, with a recent EPS of $3.13 that missed analyst expectations.

HGC Investment Management Inc. acquired a new stake in shares of Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 10,000 shares of the company's stock, valued at approximately $1,196,000.

A number of other institutional investors have also modified their holdings of COOP. Mercer Global Advisors Inc. ADV raised its stake in shares of Mr. Cooper Group by 13.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 9,462 shares of the company's stock valued at $908,000 after buying an additional 1,140 shares during the last quarter. Centiva Capital LP purchased a new position in shares of Mr. Cooper Group during the 4th quarter valued at about $335,000. Cetera Investment Advisers raised its stake in shares of Mr. Cooper Group by 57.4% during the 4th quarter. Cetera Investment Advisers now owns 13,031 shares of the company's stock valued at $1,251,000 after buying an additional 4,750 shares during the last quarter. EP Wealth Advisors LLC raised its stake in shares of Mr. Cooper Group by 27.7% during the 4th quarter. EP Wealth Advisors LLC now owns 2,985 shares of the company's stock valued at $287,000 after buying an additional 648 shares during the last quarter. Finally, Clark Capital Management Group Inc. raised its stake in shares of Mr. Cooper Group by 40.7% during the 4th quarter. Clark Capital Management Group Inc. now owns 77,379 shares of the company's stock valued at $7,429,000 after buying an additional 22,367 shares during the last quarter. Hedge funds and other institutional investors own 89.82% of the company's stock.

Mr. Cooper Group Trading Up 0.9%

NASDAQ:COOP traded up $1.97 during trading hours on Monday, hitting $215.08. 700,922 shares of the stock were exchanged, compared to its average volume of 978,111. Mr. Cooper Group Inc has a 52-week low of $84.15 and a 52-week high of $216.79. The firm's fifty day moving average price is $172.07 and its 200 day moving average price is $139.17. The company has a market cap of $13.76 billion, a P/E ratio of 24.61 and a beta of 0.97.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last posted 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). 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 analysts' expectations of $669.23 million. During the same quarter last year, the firm posted $3.10 earnings per share. Mr. Cooper Group's quarterly revenue was up 8.6% on a year-over-year basis. Equities analysts expect that Mr. Cooper Group Inc will post 13.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Barclays lifted their price objective on 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 Mr. Cooper Group in a research note on Tuesday, August 5th. Piper Sandler lifted their price target on Mr. Cooper Group from $143.00 to $158.00 and gave the company a "neutral" rating in a research note on Tuesday, July 1st. Finally, Jefferies Financial Group lifted their price target on Mr. Cooper Group from $110.00 to $150.00 and gave the company a "hold" rating in a research note on Tuesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $140.38.

Insider Buying and Selling

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $182.43, for a total transaction of $5,472,900.00. Following the completion of the sale, the chief executive officer directly owned 633,187 shares in the company, valued at approximately $115,512,304.41. The trade was a 4.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders sold 90,000 shares of company stock worth $15,278,700. 2.33% of the stock is currently owned by insiders.

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.