Independent Advisor Alliance Takes Position in Mr. Cooper Group Inc $COOP

Key Points

• Independent Advisor Alliance acquired a stake in Mr. Cooper Group valued at approximately $229,000, purchasing 1,913 shares during the first quarter.
• Mr. Cooper Group's quarterly earnings report showed an EPS of $3.13, which fell short of analysts' estimates by $0.15, and revenue was $608.00 million compared to expectations of $669.23 million.
• CEO Jesse K. Bray sold 30,000 shares at an average price of $174.72, decreasing his ownership by 4.33% and still retaining a significant stake valued at over $115 million.

Independent Advisor Alliance bought a new position in shares of Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,913 shares of the company's stock, valued at approximately $229,000.

A number of other large investors also recently modified their holdings of COOP. LPL Financial LLC lifted its position in shares of Mr. Cooper Group by 3.3% during the fourth quarter. LPL Financial LLC now owns 14,957 shares of the company's stock worth $1,436,000 after purchasing an additional 472 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Mr. Cooper Group by 8.7% during the fourth quarter. Wells Fargo & Company MN now owns 82,452 shares of the company's stock worth $7,916,000 after purchasing an additional 6,588 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Mr. Cooper Group by 9.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 24,793 shares of the company's stock worth $2,380,000 after purchasing an additional 2,199 shares in the last quarter. Cerity Partners LLC acquired a new stake in Mr. Cooper Group in the fourth quarter worth $430,000. Finally, Bank of Montreal Can raised its holdings in Mr. Cooper Group by 10.1% in the fourth quarter. Bank of Montreal Can now owns 9,649 shares of the company's stock worth $926,000 after purchasing an additional 889 shares during the period. 89.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction on Friday, August 1st. The shares were sold at an average price of $174.72, for a total value 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. The trade was a 4.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.33% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. UBS Group set a $176.00 target price on shares of Mr. Cooper Group in a report on Tuesday, August 5th. 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 report on Tuesday, July 1st. Barclays increased their target price 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, Jefferies Financial Group increased their price objective on shares of Mr. Cooper Group from $110.00 to $150.00 and gave the stock a "hold" rating in a research report on Tuesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $140.38.

Mr. Cooper Group Price Performance

COOP stock traded up $5.69 during midday trading on Tuesday, hitting $191.22. The company's stock had a trading volume of 584,925 shares, compared to its average volume of 994,744. Mr. Cooper Group Inc has a twelve month low of $84.15 and a twelve month high of $203.42. The company's fifty day moving average price is $159.28 and its 200 day moving average price is $130.81. The stock has a market capitalization of $12.24 billion, a P/E ratio of 21.88 and a beta of 0.98.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $608.00 million during the quarter, compared to analyst estimates of $669.23 million. During the same quarter in the previous year, the firm posted $3.10 earnings per share. The firm'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.

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.