Longboard Asset Management LP Makes New $235,000 Investment in Mr. Cooper Group Inc (NASDAQ:COOP)

Longboard Asset Management LP acquired a new position in shares of Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,963 shares of the company's stock, valued at approximately $235,000.

Several other institutional investors and hedge funds have also made changes to their positions in COOP. Norges Bank acquired a new position in shares of Mr. Cooper Group during the 4th quarter worth about $72,984,000. 140 Summer Partners LP acquired a new stake in shares of Mr. Cooper Group in the 4th quarter valued at about $69,959,000. Veridan Wealth LLC acquired a new stake in shares of Mr. Cooper Group in the 4th quarter valued at about $56,244,000. Wellington Management Group LLP boosted its position in shares of Mr. Cooper Group by 43.1% in the 4th quarter. Wellington Management Group LLP now owns 1,138,904 shares of the company's stock valued at $109,346,000 after purchasing an additional 343,243 shares during the period. Finally, Cercano Management LLC boosted its position in shares of Mr. Cooper Group by 66.5% in the 4th quarter. Cercano Management LLC now owns 790,753 shares of the company's stock valued at $75,920,000 after purchasing an additional 315,801 shares during the period. 89.82% of the stock is owned by institutional investors and hedge funds.

Mr. Cooper Group Stock Up 3.1%

NASDAQ:COOP opened at $149.12 on Monday. The company has a market capitalization of $9.54 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 0.43 and a beta of 1.04. Mr. Cooper Group Inc has a 52-week low of $78.20 and a 52-week high of $151.48. The stock has a fifty day simple moving average of $126.45 and a 200-day simple moving average of $112.19.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.16. Mr. Cooper Group had a net margin of 25.93% and a return on equity of 15.27%. The firm had revenue of $560.00 million during the quarter, compared to the consensus estimate of $620.57 million. During the same quarter in the previous year, the company posted $2.73 EPS. The firm's revenue for the quarter was down .7% on a year-over-year basis. As a group, equities analysts anticipate that Mr. Cooper Group Inc will post 13.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

COOP has been the subject of a number of research analyst reports. Barclays upped their target price on Mr. Cooper Group from $130.00 to $147.00 and gave the company an "overweight" rating in a research report on Tuesday, April 8th. Citizens Jmp cut Mr. Cooper Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 1st. Keefe, Bruyette & Woods increased their price objective on Mr. Cooper Group from $115.00 to $143.00 and gave the stock a "market perform" rating in a research report on Tuesday, April 8th. UBS Group increased their price objective on Mr. Cooper Group from $135.00 to $145.00 and gave the stock a "buy" rating in a research report on Wednesday, April 16th. Finally, Piper Sandler cut Mr. Cooper Group from an "overweight" rating to a "neutral" rating and increased their price objective for the stock from $125.00 to $143.00 in a research report on Friday, April 4th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $131.14.

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.

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