Private Advisor Group LLC Purchases New Shares in Mr. Cooper Group Inc (NASDAQ:COOP)

Key Points

• Private Advisor Group LLC purchased 1,983 shares of Mr. Cooper Group Inc, valued at approximately $237,000, during the 1st quarter.
• CEO Jesse K. Bray sold 30,000 shares for $4,564,200, decreasing his ownership by 4.15% while still holding about 693,187 shares.
• Analysts have set new price targets for Mr. Cooper Group, with Piper Sandler raising their target from $143.00 to $158.00 and maintaining a "neutral" rating.

Private Advisor Group LLC acquired a new stake in Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,983 shares of the company's stock, valued at approximately $237,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. 140 Summer Partners LP bought a new position in shares of Mr. Cooper Group during the fourth quarter valued at approximately $69,959,000. Wellington Management Group LLP boosted its position in shares of Mr. Cooper Group by 43.1% during the fourth quarter. Wellington Management Group LLP now owns 1,138,904 shares of the company's stock valued at $109,346,000 after buying an additional 343,243 shares during the last quarter. Cercano Management LLC lifted its holdings in Mr. Cooper Group by 66.5% in the fourth 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 period. GAMMA Investing LLC lifted its position 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 buying an additional 309,134 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in Mr. Cooper Group by 13.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,057,176 shares of the company's stock worth $126,438,000 after purchasing an additional 129,414 shares in the last quarter. Hedge funds and other institutional investors own 89.82% of the company's stock.

Insider Buying and Selling at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $174.72, for a total value of $5,241,600.00. Following the sale, the chief executive officer owned 663,187 shares of the company's stock, valued at approximately $115,872,032.64. The trade was a 4.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.33% of the stock is owned by insiders.

Analyst Ratings Changes

COOP has been the topic of several analyst reports. Keefe, Bruyette & Woods boosted their target price on Mr. Cooper Group from $115.00 to $143.00 and gave the company a "market perform" rating in a research report on Tuesday, April 8th. Jefferies Financial Group raised their price objective on Mr. Cooper Group from $110.00 to $150.00 and gave the stock a "hold" rating in a research note on Tuesday, July 22nd. UBS Group set a $176.00 target price on Mr. Cooper Group in a report on Tuesday. 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 research report on Tuesday, July 1st. Finally, Barclays upped their price objective on Mr. Cooper Group from $147.00 to $156.00 and gave the stock an "overweight" rating in a research report 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 has a consensus rating of "Hold" and a consensus target price of $140.38.

Mr. Cooper Group Stock Up 0.7%

Shares of COOP stock traded up $1.42 on Wednesday, reaching $190.76. The stock had a trading volume of 951,924 shares, compared to its average volume of 1,007,124. Mr. Cooper Group Inc has a 12 month low of $82.71 and a 12 month high of $192.69. The firm has a market capitalization of $12.21 billion, a price-to-earnings ratio of 21.83 and a beta of 0.98. The firm's 50-day moving average is $148.87 and its two-hundred day moving average is $125.36.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last released its quarterly 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). The business had revenue of $608.00 million for the quarter, compared to the consensus estimate of $669.23 million. Mr. Cooper Group had a net margin of 25.38% and a return on equity of 15.66%. Mr. Cooper Group's revenue was up 8.6% on a year-over-year basis. During the same period in the previous year, the business posted $3.10 EPS. On average, sell-side analysts forecast 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.