Mr. Cooper Group Inc $COOP Shares Bought by State of Alaska Department of Revenue

Key Points

• The State of Alaska Department of Revenue increased its stake in Mr. Cooper Group Inc by 8.1%, owning 38,097 shares valued at approximately $5.68 million as of the latest SEC filing.
• Mr. Cooper Group reported earnings per share of $3.13 for the latest quarter, missing estimates by $0.15, with revenue at $608 million, below expectations of $669.23 million.
• The company declared a special dividend of $0.01 per share, set to be paid on October 7th, with a record date of September 29th.

State of Alaska Department of Revenue boosted its stake in shares of Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 8.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 38,097 shares of the company's stock after buying an additional 2,853 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of Mr. Cooper Group worth $5,683,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in COOP. First Horizon Advisors Inc. acquired a new position in Mr. Cooper Group during the first quarter worth about $26,000. Allworth Financial LP grew its position in shares of Mr. Cooper Group by 24.5% in the first quarter. Allworth Financial LP now owns 442 shares of the company's stock valued at $51,000 after purchasing an additional 87 shares during the last quarter. USA Financial Formulas acquired a new stake in shares of Mr. Cooper Group in the first quarter valued at approximately $55,000. SVB Wealth LLC acquired a new stake in shares of Mr. Cooper Group in the first quarter valued at approximately $62,000. Finally, CWM LLC grew its position in shares of Mr. Cooper Group by 20.7% in the first quarter. CWM LLC now owns 781 shares of the company's stock valued at $93,000 after purchasing an additional 134 shares during the last quarter. 89.82% of the stock is currently owned by institutional investors and hedge funds.

Mr. Cooper Group Stock Performance

Shares of COOP opened at $212.26 on Monday. The company has a market capitalization of $13.58 billion, a price-to-earnings ratio of 24.29 and a beta of 0.97. The company's 50 day simple moving average is $192.25 and its 200 day simple moving average is $150.58. Mr. Cooper Group Inc has a 1 year low of $84.68 and a 1 year high of $234.73.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $3.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.28 by ($0.15). The firm had revenue of $608.00 million for 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%. The business's quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the company posted $3.10 EPS. Equities analysts expect that Mr. Cooper Group Inc will post 13.17 EPS for the current fiscal year.

Mr. Cooper Group Dividend Announcement

The business also recently declared a special dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Monday, September 29th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, September 29th.

Analyst Ratings Changes

COOP has been the topic of several research reports. Piper Sandler increased their price target on shares of Mr. Cooper Group from $143.00 to $158.00 and gave the company a "neutral" rating in a research report on Tuesday, July 1st. Barclays increased their price target on shares of Mr. Cooper Group from $147.00 to $156.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Jefferies Financial Group increased their price target on shares of Mr. Cooper Group from $110.00 to $150.00 and gave the company a "hold" rating in a research report on Tuesday, July 22nd. Finally, UBS Group set a $176.00 price target on shares of Mr. Cooper Group in a research report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Mr. Cooper Group has an average rating of "Hold" and a consensus price target of $140.38.

Insiders Place Their Bets

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $182.43, for a total transaction of $5,472,900.00. Following the transaction, the chief executive officer owned 633,187 shares of the company's stock, valued at $115,512,304.41. This trade represents a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 90,000 shares of company stock worth $15,278,700 over the last quarter. Company insiders own 2.33% of the company's stock.

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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