Price T Rowe Associates Inc. MD Has $102.59 Million Holdings in Mr. Cooper Group Inc $COOP

Key Points

• Price T Rowe Associates Inc. MD owns approximately $102.59 million in Mr. Cooper Group, having reduced its stake by 1.6% during the first quarter.
• Mr. Cooper Group stock has seen a 3.0% decline recently, with a market cap of $12.35 billion and a price-to-earnings ratio of 22.08.
• The company reported $3.13 EPS in its latest quarterly earnings, missing analysts' expectations, while also showing an 8.6% year-over-year increase in revenue.

Price T Rowe Associates Inc. MD reduced its position in Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 857,740 shares of the company's stock after selling 14,162 shares during the period. Price T Rowe Associates Inc. MD owned about 1.34% of Mr. Cooper Group worth $102,587,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of COOP. 140 Summer Partners LP acquired a new position in Mr. Cooper Group in the 4th quarter worth about $69,959,000. Cercano Management LLC increased its holdings in shares of Mr. Cooper Group by 66.5% during the 4th quarter. Cercano Management LLC now owns 790,753 shares of the company's stock valued at $75,920,000 after acquiring an additional 315,801 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Mr. Cooper Group by 14,148.0% during the 1st quarter. GAMMA Investing LLC now owns 311,319 shares of the company's stock valued at $37,234,000 after acquiring an additional 309,134 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Mr. Cooper Group by 11.8% during the 1st quarter. Invesco Ltd. now owns 2,013,536 shares of the company's stock valued at $240,819,000 after acquiring an additional 213,167 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of Mr. Cooper Group during the 1st quarter valued at about $24,037,000. 89.82% of the stock is owned by institutional investors and hedge funds.

Mr. Cooper Group Stock Down 3.0%

Shares of NASDAQ:COOP opened at $193.00 on Tuesday. The business has a 50 day moving average price of $164.08 and a 200 day moving average price of $133.81. Mr. Cooper Group Inc has a twelve month low of $84.15 and a twelve month high of $203.42. The company has a market cap of $12.35 billion, a price-to-earnings ratio of 22.08 and a beta of 0.98.

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). Mr. Cooper Group had a return on equity of 15.66% and a net margin of 25.38%.The firm had revenue of $608.00 million during the quarter, compared to the consensus estimate of $669.23 million. During the same quarter in the prior year, the business posted $3.10 EPS. Mr. Cooper Group's revenue was up 8.6% compared to the same quarter last year. Analysts anticipate that Mr. Cooper Group Inc will post 13.17 EPS for the current year.

Insider Activity at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the firm'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 approximately $115,872,032.64. This trade represents a 4.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.33% of the company's stock.

Analyst Upgrades and Downgrades

COOP has been the topic of a number of analyst reports. UBS Group set a $176.00 price objective on Mr. Cooper Group in a report on Tuesday, August 5th. Jefferies Financial Group increased their price objective on Mr. Cooper Group from $110.00 to $150.00 and gave the company a "hold" rating in a report on Tuesday, July 22nd. Barclays increased their price objective 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, Piper Sandler increased 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. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Mr. Cooper Group presently has a consensus rating of "Hold" and an average price target of $140.38.

Mr. Cooper Group 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.

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