Public Employees Retirement System of Ohio Has $3.03 Million Stake in Mr. Cooper Group Inc $COOP

Key Points

• The Public Employees Retirement System of Ohio increased its stake in Mr. Cooper Group Inc by 737.5% during the 2nd quarter, owning $3.03 million worth of shares after acquiring an additional 17,891 shares.
• CEO Jesse K. Bray sold 30,000 shares of the company's stock worth approximately $5.47 million, reducing his ownership by 4.52%.
• Analysts have set various target prices for Mr. Cooper Group, with Piper Sandler raising its target from $143 to $158, while the average target price stands at $140.38.

Public Employees Retirement System of Ohio lifted its position in shares of Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 737.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,317 shares of the company's stock after acquiring an additional 17,891 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Mr. Cooper Group were worth $3,032,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Oliver Luxxe Assets LLC boosted its holdings in shares of Mr. Cooper Group by 0.3% during the 2nd quarter. Oliver Luxxe Assets LLC now owns 42,080 shares of the company's stock valued at $6,279,000 after acquiring an additional 115 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Mr. Cooper Group by 24.7% during the 2nd quarter. GAMMA Investing LLC now owns 3,247 shares of the company's stock worth $484,000 after buying an additional 644 shares during the period. Park Avenue Securities LLC lifted its holdings in Mr. Cooper Group by 67.3% during the 2nd quarter. Park Avenue Securities LLC now owns 23,553 shares of the company's stock worth $3,514,000 after buying an additional 9,474 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in Mr. Cooper Group during the 2nd quarter worth about $2,085,000. Finally, DLD Asset Management LP acquired a new position in Mr. Cooper Group during the 1st quarter worth about $1,495,000. Institutional investors and hedge funds own 89.82% of the company's stock.

Insider Buying and Selling

In related news, CEO Jesse K. Bray sold 30,000 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $182.43, for a total value of $5,472,900.00. Following the completion of the sale, the chief executive officer directly owned 633,187 shares of the company's stock, valued at $115,512,304.41. The trade was a 4.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.73% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on COOP. Piper Sandler lifted their target price on Mr. Cooper Group from $143.00 to $158.00 and gave the stock a "neutral" rating in a report on Tuesday, July 1st. UBS Group set a $176.00 target price on Mr. Cooper Group in a report on Tuesday, August 5th. Jefferies Financial Group lifted their target price on Mr. Cooper Group from $110.00 to $150.00 and gave the stock a "hold" rating in a report on Tuesday, July 22nd. Finally, Barclays lifted their target price on Mr. Cooper Group from $147.00 to $156.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $140.38.

Mr. Cooper Group Price Performance

Shares of NASDAQ:COOP opened at $212.19 on Thursday. The company has a market capitalization of $13.58 billion, a price-to-earnings ratio of 24.28 and a beta of 1.08. The business's 50-day moving average is $195.06 and its 200-day moving average is $152.21. Mr. Cooper Group Inc has a 1 year low of $84.68 and a 1 year high of $234.73.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $3.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.28 by ($0.15). The business had revenue of $608.00 million during the quarter, compared to analyst estimates of $669.23 million. Mr. Cooper Group had a net margin of 25.38% and a return on equity of 15.66%. The firm's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.10 earnings per share. Analysts anticipate that Mr. Cooper Group Inc will post 13.17 EPS for the current year.

Mr. Cooper Group Announces Dividend

The company also recently announced a special dividend, which will be paid on Tuesday, October 7th. Investors of record on Monday, September 29th will be given a $0.01 dividend. The ex-dividend date of this dividend is Monday, September 29th. Mr. Cooper Group's payout ratio is presently 22.88%.

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.

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