Nuveen LLC Takes Position in Mr. Cooper Group Inc $COOP

Key Points

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Nuveen LLC bought a new stake in shares of Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 200,976 shares of the company's stock, valued at approximately $24,037,000. Nuveen LLC owned about 0.31% of Mr. Cooper Group at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. UBS Group set a $176.00 price objective on Mr. Cooper Group in a report on Tuesday, August 5th. Piper Sandler lifted their price objective on Mr. Cooper Group from $143.00 to $158.00 and gave the stock a "neutral" rating in a report on Tuesday, July 1st. Barclays lifted their target price on Mr. Cooper Group from $147.00 to $156.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Finally, Jefferies Financial Group lifted their price target 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. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Mr. Cooper Group currently has a consensus rating of "Hold" and a consensus target price of $140.38.

Insiders Place Their Bets

In related news, CEO Jesse K. Bray sold 30,000 shares of the company's stock in a transaction 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 sale, the chief executive officer directly owned 663,187 shares of the company's stock, valued at $115,872,032.64. This represents a 4.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.33% of the stock is currently owned by insiders.

Mr. Cooper Group Stock Performance

COOP opened at $185.53 on Tuesday. Mr. Cooper Group Inc has a 52-week low of $84.15 and a 52-week high of $203.42. The stock has a market capitalization of $11.87 billion, a PE ratio of 21.23 and a beta of 0.98. The stock's 50 day moving average price is $159.28 and its 200-day moving average price is $130.81.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $3.13 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $608.00 million for the quarter, compared to analysts' expectations of $669.23 million. During the same period last year, the firm posted $3.10 earnings per share. Mr. Cooper Group's quarterly revenue was up 8.6% on a year-over-year basis. Research analysts forecast that Mr. Cooper Group Inc will post 13.17 EPS for the current fiscal year.

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.

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