Mr. Cooper Group Inc (NASDAQ:COOP) Shares Purchased by Citigroup Inc.

Citigroup Inc. grew its stake in Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 84.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 177,785 shares of the company's stock after buying an additional 81,535 shares during the quarter. Citigroup Inc. owned 0.28% of Mr. Cooper Group worth $21,263,000 as of its most recent filing with the SEC.

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

Insider Activity

In other news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $174.72, for a total value of $5,241,600.00. Following the completion of the sale, the chief executive officer owned 663,187 shares in the company, 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 can be accessed through this link. Company insiders own 1.73% of the company's stock.

Mr. Cooper Group Stock Performance

NASDAQ COOP traded down $9.26 during trading hours on Thursday, hitting $193.60. 823,541 shares of the company's stock were exchanged, compared to its average volume of 1,192,921. The business's 50 day moving average is $157.01 and its 200-day moving average is $129.32. Mr. Cooper Group Inc has a 12-month low of $84.15 and a 12-month high of $203.42. The firm has a market capitalization of $12.39 billion, a P/E ratio of 22.15 and a beta of 0.98.

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on COOP. UBS Group set a $176.00 price target on Mr. Cooper Group in a research note on Tuesday, August 5th. Barclays increased their price objective on Mr. Cooper Group from $147.00 to $156.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Piper Sandler increased their price objective on 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 increased their price objective on Mr. Cooper Group from $110.00 to $150.00 and gave the company a "hold" rating in a research note on Tuesday, July 22nd. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Mr. Cooper Group presently has an average rating of "Hold" and an average price target of $140.38.

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.