Russell Investments Group Ltd. Has $4.34 Million Stake in Mr. Cooper Group Inc $COOP

Key Points

• Mr. Cooper Group Inc has seen Russell Investments Group Ltd. increase its stake by 7.8%, now owning 36,293 shares valued at approximately $4.34 million.
• Several analysts have raised their price targets for COOP shares, with Barclays setting a new target of $156.00 and Piper Sandler at $158.00, indicating positive outlooks for the stock.
• CEO Jesse K. Bray sold 30,000 shares in August, reducing his ownership by 4.33%, yet still maintaining a valuable stake of approximately $115.87 million in the company.

Russell Investments Group Ltd. lifted its holdings in Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 7.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,293 shares of the company's stock after acquiring an additional 2,613 shares during the period. Russell Investments Group Ltd. owned approximately 0.06% of Mr. Cooper Group worth $4,341,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Allworth Financial LP raised its position in shares of Mr. Cooper Group by 24.5% in the 1st quarter. Allworth Financial LP now owns 442 shares of the company's stock worth $51,000 after acquiring an additional 87 shares in the last quarter. Sage Rhino Capital LLC raised its position in shares of Mr. Cooper Group by 4.7% in the 1st quarter. Sage Rhino Capital LLC now owns 2,187 shares of the company's stock worth $262,000 after acquiring an additional 98 shares in the last quarter. Penbrook Management LLC raised its position in shares of Mr. Cooper Group by 0.6% in the 1st quarter. Penbrook Management LLC now owns 15,825 shares of the company's stock worth $1,893,000 after acquiring an additional 100 shares in the last quarter. CWM LLC raised its position in shares of Mr. Cooper Group by 20.7% in the 1st quarter. CWM LLC now owns 781 shares of the company's stock worth $93,000 after acquiring an additional 134 shares in the last quarter. Finally, MorganRosel Wealth Management LLC raised its position in shares of Mr. Cooper Group by 1.2% in the 1st quarter. MorganRosel Wealth Management LLC now owns 13,544 shares of the company's stock worth $1,620,000 after acquiring an additional 154 shares in the last quarter. 89.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. Jefferies Financial Group boosted their target price on Mr. Cooper Group from $110.00 to $150.00 and gave the company a "hold" rating in a research report on Tuesday, July 22nd. Piper Sandler boosted their target price on 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 boosted their target price on Mr. Cooper Group from $147.00 to $156.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Finally, UBS Group set a $176.00 target price on 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 assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $140.38.

Mr. Cooper Group Stock Down 1.4%

COOP stock traded down $2.69 during mid-day trading on Thursday, reaching $188.29. 787,434 shares of the company traded hands, compared to its average volume of 924,149. The stock has a market cap of $12.05 billion, a price-to-earnings ratio of 21.54 and a beta of 0.98. Mr. Cooper Group Inc has a fifty-two week low of $84.15 and a fifty-two week high of $203.42. The firm's 50 day moving average price is $166.95 and its 200 day moving average price is $135.17.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $3.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.28 by ($0.15). The company had revenue of $608.00 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm posted $3.10 EPS. On average, analysts anticipate that Mr. Cooper Group Inc will post 13.17 EPS for the current fiscal year.

Insider Transactions 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 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 transaction, the chief executive officer owned 663,187 shares in the company, valued at approximately $115,872,032.64. The trade was a 4.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.73% of the company's stock.

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.