Paulson Wealth Management Inc. Invests $208,000 in Mr. Cooper Group Inc (NASDAQ:COOP)

Key Points

• Paulson Wealth Management Inc. invested approximately $208,000 in Mr. Cooper Group Inc., acquiring 1,741 shares during the first quarter.
• The stock has a market cap of $11.35 billion and recent quarterly earnings showed a net margin of 25.38%, although earnings per share slightly missed analyst estimates.
• Insider trading was noted, with CEO Jesse K. Bray selling 30,000 shares valued at over $5 million, reducing his ownership by 4.33%.

Paulson Wealth Management Inc. acquired a new stake in shares of Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,741 shares of the company's stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COOP. LPL Financial LLC lifted its holdings in shares of Mr. Cooper Group by 3.3% during the fourth quarter. LPL Financial LLC now owns 14,957 shares of the company's stock valued at $1,436,000 after acquiring an additional 472 shares during the period. Wells Fargo & Company MN increased its stake 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 valued at $7,916,000 after buying an additional 6,588 shares in the last quarter. Envestnet Asset Management Inc. increased its stake 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 valued at $2,380,000 after buying an additional 2,199 shares in the last quarter. Cerity Partners LLC acquired a new stake in shares of Mr. Cooper Group in the fourth quarter valued at $430,000. Finally, Bank of Montreal Can increased its stake in shares of Mr. Cooper Group by 10.1% in the fourth quarter. Bank of Montreal Can now owns 9,649 shares of the company's stock valued at $926,000 after buying an additional 889 shares in the last quarter. 89.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. UBS Group set a $176.00 target price on Mr. Cooper Group in a research note on Tuesday, August 5th. Piper Sandler raised their target price 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. Jefferies Financial Group raised their target price 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. Finally, Barclays raised their target price 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. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $140.38.

Insider Activity

In other news, CEO Jesse K. Bray sold 30,000 shares of the business's stock in a transaction dated Friday, August 1st. The stock was 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 approximately $115,872,032.64. The trade was a 4.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.73% of the company's stock.

Mr. Cooper Group Stock Down 4.6%

COOP stock traded down $9.26 during midday trading on Thursday, reaching $193.60. The stock had a trading volume of 823,538 shares, compared to its average volume of 1,001,586. The business has a fifty day simple moving average of $155.78 and a two-hundred day simple moving average of $128.72. The firm has a market cap of $12.39 billion, a price-to-earnings ratio of 22.15 and a beta of 0.98. Mr. Cooper Group Inc has a twelve month low of $84.15 and a twelve month high of $203.42.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last announced 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 analyst estimates of $669.23 million. Mr. Cooper Group had a return on equity of 15.66% and a net margin of 25.38%. Mr. Cooper Group's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.10 earnings per share. On average, equities analysts predict that Mr. Cooper Group Inc will post 13.17 earnings per share for the current fiscal year.

Mr. Cooper Group Company Profile

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.