Strs Ohio Invests $849,000 in Mr. Cooper Group Inc $COOP

Key Points

• Strs Ohio has acquired a new position in Mr. Cooper Group by purchasing 7,100 shares valued at approximately $849,000 in the first quarter, indicating growing institutional interest in the company.
• Analysts have set various price targets for Mr. Cooper Group, with Jefferies Financial Group raising their target from $110.00 to $150.00, while UBS Group set a price objective of $176.00, reflecting confidence in the stock's performance.
• In a recent transaction, CEO Jesse K. Bray sold 30,000 shares at an average price of $182.43, reducing his ownership stake, which raises questions about insider sentiment towards the stock.

Strs Ohio purchased a new stake in Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 7,100 shares of the company's stock, valued at approximately $849,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Park Avenue Securities LLC acquired a new stake in Mr. Cooper Group in the first quarter worth approximately $1,684,000. Natixis Advisors LLC boosted its position in shares of Mr. Cooper Group by 9.6% during the 1st quarter. Natixis Advisors LLC now owns 23,956 shares of the company's stock valued at $2,865,000 after purchasing an additional 2,093 shares in the last quarter. Independent Advisor Alliance bought a new position in shares of Mr. Cooper Group during the 1st quarter valued at about $229,000. Assenagon Asset Management S.A. boosted its position in shares of Mr. Cooper Group by 13.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,057,176 shares of the company's stock valued at $126,438,000 after purchasing an additional 129,414 shares in the last quarter. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of Mr. Cooper Group during the fourth quarter valued at approximately $394,000. 89.82% of the stock is owned by institutional investors and hedge funds.

Mr. Cooper Group Price Performance

Shares of NASDAQ COOP traded up $5.42 during trading hours on Tuesday, reaching $219.55. The stock had a trading volume of 147,103 shares, compared to its average volume of 968,100. The business's fifty day moving average is $187.09 and its two-hundred day moving average is $147.45. The company has a market cap of $14.05 billion, a price-to-earnings ratio of 25.06 and a beta of 0.97. Mr. Cooper Group Inc has a twelve month low of $84.68 and a twelve month high of $234.73.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last issued its earnings results 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 net margin of 25.38% and a return on equity of 15.66%. The business'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 company posted $3.10 earnings per share. Sell-side analysts forecast 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 declared a special dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Monday, September 29th will be given a $0.01 dividend. The ex-dividend date is Monday, September 29th.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Barclays increased their price objective on Mr. Cooper Group from $147.00 to $156.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Jefferies Financial Group increased 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. Piper Sandler lifted their target price on shares of Mr. Cooper Group from $143.00 to $158.00 and gave the company a "neutral" rating in a research note on Tuesday, July 1st. Finally, UBS Group set a $176.00 target price on shares of Mr. Cooper Group in a research note on Tuesday, August 5th. Four investment 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 a consensus target price of $140.38.

Insiders Place Their Bets

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the company's stock in a transaction on 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 sale, the chief executive officer directly owned 633,187 shares in the company, valued at $115,512,304.41. This represents a 4.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold 90,000 shares of company stock valued at $15,278,700 in the last quarter. Corporate insiders own 2.33% of the company's stock.

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.