Maverick Capital Ltd. Has $793,000 Position in Mr. Cooper Group Inc $COOP

Key Points

• Maverick Capital Ltd. increased its stake in Mr. Cooper Group Inc by 102.4%, owning 6,629 shares worth $793,000 as of the latest SEC filing.
• Mr. Cooper Group reported a quarterly earnings miss with an EPS of $3.13, below the estimated $3.28, and its revenue of $608 million fell short of expectations.
• Analysts have set new price targets for the stock, with recent upgrades identifying price objectives ranging from $150 to $176, while maintaining a generally "Hold" rating.

Maverick Capital Ltd. increased its position in shares of Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 102.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,629 shares of the company's stock after buying an additional 3,354 shares during the quarter. Maverick Capital Ltd.'s holdings in Mr. Cooper Group were worth $793,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in COOP. Royal Bank of Canada lifted its position in Mr. Cooper Group by 37.1% in the first quarter. Royal Bank of Canada now owns 47,827 shares of the company's stock worth $5,720,000 after purchasing an additional 12,954 shares during the period. Vident Advisory LLC lifted its stake in Mr. Cooper Group by 115.4% during the first quarter. Vident Advisory LLC now owns 4,499 shares of the company's stock worth $538,000 after purchasing an additional 2,410 shares during the period. Evergreen Capital Management LLC grew its stake in shares of Mr. Cooper Group by 3.2% in the 1st quarter. Evergreen Capital Management LLC now owns 5,504 shares of the company's stock valued at $658,000 after purchasing an additional 173 shares during the period. Magnetar Financial LLC acquired a new position in shares of Mr. Cooper Group in the 1st quarter worth approximately $3,562,000. Finally, Lodge Hill Capital LLC lifted its position in shares of Mr. Cooper Group by 27.8% during the 1st quarter. Lodge Hill Capital LLC now owns 213,000 shares of the company's stock worth $25,475,000 after buying an additional 46,360 shares during the period. 89.82% of the stock is currently owned by institutional investors.

Mr. Cooper Group Price Performance

Shares of Mr. Cooper Group stock traded up $10.50 on Friday, hitting $213.11. 1,008,778 shares of the company's stock traded hands, compared to its average volume of 738,189. The firm's 50-day moving average price is $172.07 and its two-hundred day moving average price is $138.75. The stock has a market capitalization of $13.64 billion, a PE ratio of 24.38 and a beta of 0.98. Mr. Cooper Group Inc has a one year low of $84.15 and a one year high of $216.79.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last announced its quarterly 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). The company had revenue of $608.00 million during the quarter, compared to the consensus estimate of $669.23 million. Mr. Cooper Group had a net margin of 25.38% and a return on equity of 15.66%. The business's revenue was up 8.6% compared to the same quarter last year. During the same period last year, the company earned $3.10 earnings per share. On average, analysts forecast that Mr. Cooper Group Inc will post 13.17 earnings per share for the current fiscal year.

Insider Activity 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 dated Tuesday, September 2nd. The stock was sold at an average price of $182.43, for a total transaction of $5,472,900.00. Following the transaction, the chief executive officer directly owned 633,187 shares in the company, valued at approximately $115,512,304.41. The trade was a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders have sold 90,000 shares of company stock valued at $15,278,700. 1.73% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. UBS Group set a $176.00 price objective on Mr. Cooper Group in a report on Tuesday, August 5th. Barclays upped their price objective on shares of Mr. Cooper Group from $147.00 to $156.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Piper Sandler lifted their target price on shares of Mr. Cooper Group from $143.00 to $158.00 and gave the company a "neutral" rating in a research note on Tuesday, July 1st. Finally, Jefferies Financial Group boosted their price objective 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 equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $140.38.

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.