Citigroup Inc. Grows Position in Mr. Cooper Group Inc (NASDAQ:COOP)

Citigroup Inc. raised its position in shares of Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 84.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. LPL Financial LLC lifted its position in shares of Mr. Cooper Group by 3.3% in the fourth quarter. LPL Financial LLC now owns 14,957 shares of the company's stock worth $1,436,000 after purchasing an additional 472 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Mr. Cooper Group by 8.7% in the fourth quarter. Wells Fargo & Company MN now owns 82,452 shares of the company's stock worth $7,916,000 after purchasing an additional 6,588 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Mr. Cooper Group by 9.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 24,793 shares of the company's stock worth $2,380,000 after purchasing an additional 2,199 shares in the last quarter. Cerity Partners LLC acquired a new position in Mr. Cooper Group in the fourth quarter worth approximately $430,000. Finally, Bank of Montreal Can increased its holdings in Mr. Cooper Group by 10.1% in the fourth quarter. Bank of Montreal Can now owns 9,649 shares of the company's stock worth $926,000 after buying an additional 889 shares during the last quarter. 89.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Jesse K. Bray sold 30,000 shares of the business's stock in a transaction that occurred on 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 $115,872,032.64. The trade was a 4.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.73% of the stock is currently owned by corporate insiders.

Mr. Cooper Group Stock Performance

Shares of NASDAQ:COOP traded down $2.33 during midday trading on Friday, hitting $191.27. 704,119 shares of the stock were exchanged, compared to its average volume of 1,190,807. The business's 50-day moving average price is $158.21 and its 200 day moving average price is $130.08. Mr. Cooper Group Inc has a 12 month low of $84.15 and a 12 month high of $203.42. The stock has a market capitalization of $12.24 billion, a price-to-earnings ratio of 21.88 and a beta of 0.98.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last released 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 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 company's quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.10 earnings per share. As a group, sell-side analysts expect that Mr. Cooper Group Inc will post 13.17 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on COOP shares. UBS Group set a $176.00 price objective on Mr. Cooper Group in a report on Tuesday, August 5th. Barclays raised 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 raised their price objective on shares of Mr. Cooper Group from $143.00 to $158.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 1st. Finally, Jefferies Financial Group raised their target price on Mr. Cooper Group from $110.00 to $150.00 and gave the stock a "hold" rating in a research report on Tuesday, July 22nd. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus 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.