Trueblood Wealth Management LLC Invests $218,000 in Mr. Cooper Group Inc. (NASDAQ:COOP)

Trueblood Wealth Management LLC acquired a new position in shares of Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,822 shares of the company's stock, valued at approximately $218,000.

A number of other institutional investors have also recently added to or reduced their stakes in COOP. Invesco Ltd. grew its stake in shares of Mr. Cooper Group by 5.2% in the fourth quarter. Invesco Ltd. now owns 1,800,369 shares of the company's stock valued at $172,853,000 after buying an additional 89,544 shares in the last quarter. Wellington Management Group LLP raised its stake in Mr. Cooper Group by 43.1% during the 4th quarter. Wellington Management Group LLP now owns 1,138,904 shares of the company's stock valued at $109,346,000 after acquiring an additional 343,243 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Mr. Cooper Group by 16.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 871,902 shares of the company's stock valued at $83,712,000 after acquiring an additional 125,897 shares during the last quarter. Northern Trust Corp increased its position in Mr. Cooper Group by 6.8% during the 4th quarter. Northern Trust Corp now owns 835,369 shares of the company's stock worth $80,204,000 after purchasing an additional 53,534 shares during the period. Finally, Cercano Management LLC increased its position in Mr. Cooper Group by 66.5% during the 4th quarter. Cercano Management LLC now owns 790,753 shares of the company's stock worth $75,920,000 after purchasing an additional 315,801 shares during the period. Hedge funds and other institutional investors own 89.82% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Piper Sandler downgraded Mr. Cooper Group from an "overweight" rating to a "neutral" rating and upped their price objective for the company from $125.00 to $143.00 in a research report on Friday, April 4th. Keefe, Bruyette & Woods increased their target price on Mr. Cooper Group from $115.00 to $143.00 and gave the company a "market perform" rating in a research note on Tuesday, April 8th. Citizens Jmp downgraded Mr. Cooper Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 1st. UBS Group raised their price target on Mr. Cooper Group from $135.00 to $145.00 and gave the stock a "buy" rating in a report on Wednesday, April 16th. Finally, Barclays lifted their target price on Mr. Cooper Group from $130.00 to $147.00 and gave the company an "overweight" rating in a research note on Tuesday, April 8th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Mr. Cooper Group has an average rating of "Moderate Buy" and a consensus target price of $131.14.

Mr. Cooper Group Trading Down 2.3%

Shares of NASDAQ:COOP traded down $3.44 during trading on Friday, reaching $143.08. 529,606 shares of the stock were exchanged, compared to its average volume of 645,545. Mr. Cooper Group Inc. has a 12 month low of $78.20 and a 12 month high of $147.13. The firm has a market cap of $9.15 billion, a PE ratio of 14.06, a PEG ratio of 0.32 and a beta of 1.03. The stock has a 50-day moving average price of $123.25 and a 200-day moving average price of $110.53.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.16. Mr. Cooper Group had a return on equity of 14.76% and a net margin of 30.07%. The business had revenue of $560.00 million during the quarter, compared to analysts' expectations of $620.57 million. During the same period in the previous year, the company posted $2.73 earnings per share. The firm's revenue for the quarter was down .7% compared to the same quarter last year. On average, sell-side analysts expect that Mr. Cooper Group Inc. will post 13.17 earnings per share for the current fiscal year.

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.