Mr. Cooper Group Inc $COOP is 140 Summer Partners LP's 7th Largest Position

Key Points

• 140 Summer Partners LP has reduced its stake in Mr. Cooper Group Inc by 43.2%, now holding 414,006 shares, accounting for approximately 6.4% of its total holdings.
• Analyst reports recently set new price targets for the stock, with UBS Group projecting a price objective of $176.00, while Barclays raised its target from $147.00 to $156.00, indicating positive outlooks.
• Mr. Cooper Group reported earnings of $3.13 per share for the last quarter, falling short of the consensus estimate by $0.15, with revenue of $608 million against expected $669.23 million.

140 Summer Partners LP lowered its position in Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 43.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 414,006 shares of the company's stock after selling 314,662 shares during the quarter. Mr. Cooper Group accounts for approximately 6.4% of 140 Summer Partners LP's holdings, making the stock its 7th biggest holding. 140 Summer Partners LP owned 0.65% of Mr. Cooper Group worth $49,515,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. TIG Advisors LLC purchased a new stake in Mr. Cooper Group during the 1st quarter worth about $4,853,000. Maverick Capital Ltd. increased its position in Mr. Cooper Group by 102.4% during the 1st quarter. Maverick Capital Ltd. now owns 6,629 shares of the company's stock worth $793,000 after purchasing an additional 3,354 shares in the last quarter. Royal Bank of Canada increased its position in Mr. Cooper Group by 37.1% during the 1st 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 in the last quarter. Vident Advisory LLC increased its position in Mr. Cooper Group by 115.4% during the 1st quarter. Vident Advisory LLC now owns 4,499 shares of the company's stock worth $538,000 after purchasing an additional 2,410 shares in the last quarter. Finally, Evergreen Capital Management LLC increased its position in Mr. Cooper Group by 3.2% during the 1st quarter. Evergreen Capital Management LLC now owns 5,504 shares of the company's stock worth $658,000 after purchasing an additional 173 shares in the last quarter. Hedge funds and other institutional investors own 89.82% of the company's stock.

Mr. Cooper Group Stock Performance

Mr. Cooper Group stock traded up $10.50 during midday trading on Friday, reaching $213.11. The stock had a trading volume of 1,008,778 shares, compared to its average volume of 738,189. Mr. Cooper Group Inc has a twelve month low of $84.15 and a twelve month high of $216.79. The stock has a market capitalization of $13.64 billion, a PE ratio of 24.38 and a beta of 0.98. The stock's 50-day simple moving average is $172.07 and its 200 day simple moving average is $138.96.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The company reported $3.13 earnings per share for the quarter, missing analysts' consensus estimates of $3.28 by ($0.15). Mr. Cooper Group had a net margin of 25.38% and a return on equity of 15.66%. The firm had revenue of $608.00 million during the quarter, compared to analyst estimates of $669.23 million. During the same quarter in the previous year, the business posted $3.10 EPS. Mr. Cooper Group's revenue was up 8.6% compared to the same quarter last year. Equities analysts predict that Mr. Cooper Group Inc will post 13.17 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Jesse K. Bray sold 30,000 shares of the business's 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 completion of the sale, the chief executive officer owned 633,187 shares in the company, valued at approximately $115,512,304.41. The trade was a 4.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders sold 90,000 shares of company stock worth $15,278,700. 1.73% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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