Park Avenue Securities LLC Has $3.51 Million Position in Mr. Cooper Group Inc $COOP

Key Points

• Park Avenue Securities LLC has increased its stake in Mr. Cooper Group Inc (NASDAQ:COOP) by 67.3%, owning 23,553 shares valued at approximately $3.51 million as of the end of the 2nd quarter.
• Mr. Cooper Group announced a special dividend of $0.01 per share to be paid on October 7th, with an ex-dividend date of September 29th.
• The company recently reported quarterly earnings of $3.13 EPS, missing analyst estimates by $0.15, while revenues for the quarter were $608 million, lower than the anticipated $669.23 million.

Park Avenue Securities LLC lifted its position in shares of Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 67.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,553 shares of the company's stock after buying an additional 9,474 shares during the period. Park Avenue Securities LLC's holdings in Mr. Cooper Group were worth $3,514,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of COOP. First Horizon Advisors Inc. acquired a new position in shares of Mr. Cooper Group during the first quarter worth about $26,000. Allworth Financial LP boosted its position in Mr. Cooper Group by 24.5% during the first 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. USA Financial Formulas acquired a new position in Mr. Cooper Group during the first quarter valued at approximately $55,000. SVB Wealth LLC acquired a new position in Mr. Cooper Group during the first quarter valued at approximately $62,000. Finally, CWM LLC boosted its position in Mr. Cooper Group by 20.7% during the first 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. 89.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the firm's stock in a transaction on 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 transaction, the chief executive officer owned 633,187 shares in the company, valued at $115,512,304.41. This trade represents a 4.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders sold 90,000 shares of company stock worth $15,278,700. 2.33% of the stock is owned by company insiders.

Mr. Cooper Group Price Performance

Mr. Cooper Group stock opened at $214.13 on Tuesday. The stock's fifty day moving average price is $187.09 and its two-hundred day moving average price is $147.45. Mr. Cooper Group Inc has a one year low of $84.68 and a one year high of $234.73. The firm has a market cap of $13.70 billion, a PE ratio of 24.50 and a beta of 0.97.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last posted 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). Mr. Cooper Group had a return on equity of 15.66% and a net margin of 25.38%.The company had revenue of $608.00 million for the quarter, compared to the consensus estimate of $669.23 million. During the same quarter last year, the business earned $3.10 EPS. Mr. Cooper Group's revenue was up 8.6% on a year-over-year basis. Sell-side analysts expect that Mr. Cooper Group Inc will post 13.17 earnings per share for the current fiscal year.

Mr. Cooper Group Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Monday, September 29th will be paid a dividend of $0.01 per share. The ex-dividend date is Monday, September 29th.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Piper Sandler increased their price target on Mr. Cooper Group from $143.00 to $158.00 and gave the company a "neutral" rating in a research report on Tuesday, July 1st. UBS Group set a $176.00 price target on Mr. Cooper Group in a research report on Tuesday, August 5th. Jefferies Financial Group increased 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. Finally, Barclays increased their price target on Mr. Cooper Group from $147.00 to $156.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Mr. Cooper Group has a consensus 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.

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