Independent Advisor Alliance Invests $229,000 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 acquired a new stake in Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,913 shares of the company's stock, valued at approximately $229,000.

Several other hedge funds have also recently added to or reduced their stakes in COOP. LPL Financial LLC raised its stake in Mr. Cooper Group by 3.3% in the 4th quarter. LPL Financial LLC now owns 14,957 shares of the company's stock valued at $1,436,000 after purchasing an additional 472 shares during the last quarter. Wells Fargo & Company MN raised its stake in Mr. Cooper Group by 8.7% in the 4th quarter. Wells Fargo & Company MN now owns 82,452 shares of the company's stock valued at $7,916,000 after purchasing an additional 6,588 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in Mr. Cooper Group by 9.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 24,793 shares of the company's stock valued at $2,380,000 after purchasing an additional 2,199 shares during the last quarter. Cerity Partners LLC acquired a new position in Mr. Cooper Group in the 4th quarter valued at $430,000. Finally, Bank of Montreal Can raised its stake in Mr. Cooper Group by 10.1% in the 4th quarter. Bank of Montreal Can now owns 9,649 shares of the company's stock valued at $926,000 after purchasing an additional 889 shares during the last quarter. 89.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on COOP shares. 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 research note on Tuesday, July 1st. UBS Group set a $176.00 target price on Mr. Cooper Group in a research note on Tuesday, August 5th. Barclays raised their target price on Mr. Cooper Group from $147.00 to $156.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Finally, Jefferies Financial Group raised their target price on 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 research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $140.38.

Mr. Cooper Group Stock Down 1.2%

Shares of COOP traded down $2.15 during midday trading on Thursday, reaching $183.43. The company had a trading volume of 534,886 shares, compared to its average volume of 909,185. Mr. Cooper Group Inc has a 1-year low of $84.15 and a 1-year high of $203.42. The stock has a market cap of $11.74 billion, a PE ratio of 20.99 and a beta of 0.98. The firm has a 50 day simple moving average of $161.99 and a 200-day simple moving average of $132.16.

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

Insider Buying and Selling at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer directly owned 663,187 shares in the company, valued at approximately $115,872,032.64. This represents a 4.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.73% of the company's stock.

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.