Virtu Financial LLC Buys New Stake in Mr. Cooper Group Inc (NASDAQ:COOP)

Key Points

• Virtu Financial LLC acquired a new stake in Mr. Cooper Group Inc, purchasing 21,079 shares valued at approximately $2.5 million during the first quarter of the year.
• Research firms are optimistic about Mr. Cooper Group's stock, with analysts raising price targets, including Jefferies Financial Group increasing its target from $110 to $150.
• CEO Jesse K. Bray sold 30,000 shares of the company's stock, reducing his ownership by 4.33%, while he still retains approximately $115.9 million in shares.

Virtu Financial LLC bought a new stake in shares of Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 21,079 shares of the company's stock, valued at approximately $2,521,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Invesco Ltd. lifted 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 in the last quarter. Assenagon Asset Management S.A. increased its stake in 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 worth $126,438,000 after buying an additional 129,414 shares during the period. Price T Rowe Associates Inc. MD increased 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 worth $83,712,000 after buying an additional 125,897 shares during the period. Northern Trust Corp increased its stake 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 buying an additional 53,534 shares during the period. Finally, Cercano Management LLC increased its stake 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 buying an additional 315,801 shares during the period. Institutional investors and hedge funds own 89.82% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on COOP. Jefferies Financial Group lifted their price target on shares of 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 price target on shares of Mr. Cooper Group from $143.00 to $158.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 1st. Barclays lifted their price target on shares of Mr. Cooper Group from $147.00 to $156.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Finally, UBS Group set a $176.00 price target on shares of Mr. Cooper Group in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Mr. Cooper Group currently has a consensus rating of "Hold" and an average target price of $140.38.

Insider Buying and Selling

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 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 in the company, valued at approximately $115,872,032.64. This trade represents a 4.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.73% of the company's stock.

Mr. Cooper Group Stock Performance

COOP opened at $177.35 on Friday. The company has a 50-day moving average of $152.09 and a 200-day moving average of $127.06. The company has a market capitalization of $11.35 billion, a P/E ratio of 20.29 and a beta of 0.98. Mr. Cooper Group Inc has a 1-year low of $84.15 and a 1-year high of $193.86.

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 for the quarter, missing analysts' consensus estimates of $3.28 by ($0.15). Mr. Cooper Group had a net margin of 25.38% and a return on equity of 15.66%. The business had revenue of $608.00 million for the quarter, compared to the consensus estimate of $669.23 million. During the same period in the prior year, the company earned $3.10 EPS. Mr. Cooper Group's quarterly revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts expect that Mr. Cooper Group Inc will post 13.17 earnings per share for the current fiscal year.

About Mr. Cooper Group

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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