LPL Financial LLC Purchases 4,048 Shares of Mr. Cooper Group Inc $COOP

Key Points

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LPL Financial LLC increased its holdings in shares of Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 27.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,005 shares of the company's stock after purchasing an additional 4,048 shares during the period. LPL Financial LLC's holdings in Mr. Cooper Group were worth $2,273,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. boosted its holdings in 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 acquiring an additional 129,414 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Mr. Cooper Group by 16.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 871,902 shares of the company's stock worth $83,712,000 after acquiring an additional 125,897 shares in the last quarter. Northern Trust Corp boosted its holdings in Mr. Cooper Group by 6.8% in the fourth quarter. Northern Trust Corp now owns 835,369 shares of the company's stock worth $80,204,000 after acquiring an additional 53,534 shares in the last quarter. Cercano Management LLC boosted its holdings in Mr. Cooper Group by 66.5% in the fourth quarter. Cercano Management LLC now owns 790,753 shares of the company's stock worth $75,920,000 after acquiring an additional 315,801 shares in the last quarter. Finally, 140 Summer Partners LP bought a new position in shares of Mr. Cooper Group in the fourth quarter valued at approximately $69,959,000. Institutional investors own 89.82% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on COOP. Jefferies Financial Group raised their target price on Mr. Cooper Group from $110.00 to $150.00 and gave the company a "hold" rating in a report on Tuesday, July 22nd. Piper Sandler raised their target price on Mr. Cooper Group from $143.00 to $158.00 and gave the company a "neutral" rating in a report on Tuesday, July 1st. Barclays raised their target price on Mr. Cooper Group from $147.00 to $156.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Finally, UBS Group set a $176.00 target price on Mr. Cooper Group in a report on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $140.38.

Insider Transactions at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group 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 sale, the chief executive officer 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 ownership of the stock. The transaction was disclosed in a 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 Trading Up 9.1%

Shares of NASDAQ COOP traded up $16.69 during mid-day trading on Friday, hitting $200.13. The company had a trading volume of 694,778 shares, compared to its average volume of 986,804. The company has a market capitalization of $12.81 billion, a price-to-earnings ratio of 22.95 and a beta of 0.98. Mr. Cooper Group Inc has a 1 year low of $84.15 and a 1 year high of $203.42. The stock's 50-day moving average price is $161.99 and its 200-day moving average price is $132.16.

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

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.