Nuveen LLC Invests $24.04 Million in Mr. Cooper Group Inc $COOP

Key Points

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Nuveen LLC acquired a new stake in Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 200,976 shares of the company's stock, valued at approximately $24,037,000. Nuveen LLC owned about 0.31% of Mr. Cooper Group as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. purchased a new stake in Mr. Cooper Group in the 1st quarter valued at about $26,000. Allworth Financial LP increased its stake in Mr. Cooper Group by 24.5% in the 1st quarter. Allworth Financial LP now owns 442 shares of the company's stock valued at $51,000 after buying an additional 87 shares during the last quarter. USA Financial Formulas purchased a new stake in Mr. Cooper Group in the 1st quarter valued at about $55,000. Kapitalo Investimentos Ltda purchased a new stake in Mr. Cooper Group in the 4th quarter valued at about $70,000. Finally, CWM LLC increased its stake in Mr. Cooper Group by 20.7% in the 1st quarter. CWM LLC now owns 781 shares of the company's stock valued at $93,000 after buying an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 89.82% of the company's stock.

Insider Activity at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the business's stock in a transaction on Friday, August 1st. The shares were 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 directly 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 document filed with the Securities & Exchange Commission, which is available at this link. 1.73% of the stock is owned by company insiders.

Mr. Cooper Group Trading Up 8.5%

Shares of COOP traded up $15.55 during mid-day trading on Friday, reaching $198.98. 1,040,094 shares of the stock traded hands, compared to its average volume of 887,285. The firm has a fifty day moving average price of $163.10 and a 200 day moving average price of $133.01. The company has a market cap of $12.73 billion, a price-to-earnings ratio of 22.77 and a beta of 0.98. Mr. Cooper Group Inc has a 1 year low of $84.15 and a 1 year high of $203.42.

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 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 firm's revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the firm earned $3.10 earnings per share. On average, sell-side analysts anticipate that Mr. Cooper Group Inc will post 13.17 EPS for the current year.

Analysts Set New Price Targets

COOP has been the subject of several analyst reports. Barclays increased their price objective on shares of Mr. Cooper Group from $147.00 to $156.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. UBS Group set a $176.00 price target on shares of Mr. Cooper Group in a research note on Tuesday, August 5th. Piper Sandler lifted their price objective on shares of 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 lifted their price objective on shares of Mr. Cooper Group from $110.00 to $150.00 and gave the company a "hold" rating in a research note on Tuesday, July 22nd. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price 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.