Invesco Ltd. Buys 213,167 Shares of Mr. Cooper Group Inc (NASDAQ:COOP)

Key Points

• Invesco Ltd. increased its stake in Mr. Cooper Group Inc by 11.8%, now owning approximately 3.15% of the company valued at $240.8 million.
• Mr. Cooper Group recently reported earnings per share (EPS) of $3.13, missing analyst estimates by $0.15, with a revenue of $608 million for the last quarter.
• Analysts have varied ratings for Mr. Cooper Group, with Barclays and Piper Sandler raising target prices, while the consensus rating remains a "Hold."

Invesco Ltd. lifted its stake in Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 11.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,013,536 shares of the company's stock after buying an additional 213,167 shares during the quarter. Invesco Ltd. owned about 3.15% of Mr. Cooper Group worth $240,819,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Assenagon Asset Management S.A. raised its stake in shares of Mr. Cooper Group by 13.9% in the first quarter. Assenagon Asset Management S.A. now owns 1,057,176 shares of the company's stock worth $126,438,000 after buying an additional 129,414 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Mr. Cooper Group by 16.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 871,902 shares of the company's stock worth $83,712,000 after purchasing an additional 125,897 shares in the last quarter. Northern Trust Corp grew its position in shares of Mr. Cooper Group by 6.8% during the fourth quarter. Northern Trust Corp now owns 835,369 shares of the company's stock worth $80,204,000 after purchasing an additional 53,534 shares in the last quarter. Cercano Management LLC grew its position in shares of Mr. Cooper Group by 66.5% during the fourth quarter. Cercano Management LLC now owns 790,753 shares of the company's stock worth $75,920,000 after purchasing an additional 315,801 shares in the last quarter. Finally, 140 Summer Partners LP purchased a new stake in shares of Mr. Cooper Group during the fourth quarter worth about $69,959,000. Institutional investors own 89.82% of the company's stock.

Insider Activity

In related news, CEO Jesse K. Bray sold 30,000 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer directly owned 663,187 shares of the company's stock, valued at approximately $115,872,032.64. This trade represents a 4.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.73% of the company's stock.

Mr. Cooper Group Price Performance

Shares of Mr. Cooper Group stock traded down $2.33 on Friday, reaching $191.27. The company had a trading volume of 704,119 shares, compared to its average volume of 1,190,807. The firm has a market cap of $12.24 billion, a price-to-earnings ratio of 21.88 and a beta of 0.98. The firm's 50-day moving average price is $158.21 and its two-hundred day moving average price is $130.08. Mr. Cooper Group Inc has a 1 year low of $84.15 and a 1 year high of $203.42.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $3.13 EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $608.00 million during the quarter, compared to analysts' expectations of $669.23 million. During the same quarter last year, the firm posted $3.10 EPS. Mr. Cooper Group's revenue for the quarter was up 8.6% compared to the same quarter last year. As a group, analysts anticipate that Mr. Cooper Group Inc will post 13.17 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Barclays increased their target price on Mr. Cooper Group from $147.00 to $156.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Jefferies Financial Group raised their price target on Mr. Cooper Group from $110.00 to $150.00 and gave the company a "hold" rating in a report on Tuesday, July 22nd. UBS Group set a $176.00 price target on Mr. Cooper Group in a report on Tuesday, August 5th. Finally, Piper Sandler raised their price target 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 equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Mr. Cooper Group has an average rating of "Hold" and a consensus price target of $140.38.

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.