Cercano Management LLC Increases Stock Holdings in Mr. Cooper Group Inc. (NASDAQ:COOP)

Cercano Management LLC raised its stake in shares of Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) by 66.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 790,753 shares of the company's stock after purchasing an additional 315,801 shares during the period. Mr. Cooper Group accounts for about 1.9% of Cercano Management LLC's investment portfolio, making the stock its 15th biggest holding. Cercano Management LLC owned approximately 1.24% of Mr. Cooper Group worth $75,920,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of Mr. Cooper Group during the fourth quarter worth about $72,984,000. 140 Summer Partners LP bought a new stake in shares of Mr. Cooper Group during the fourth quarter valued at approximately $69,959,000. Veridan Wealth LLC purchased a new position in shares of Mr. Cooper Group in the fourth quarter worth $56,244,000. 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 worth $109,346,000 after acquiring an additional 343,243 shares during the last quarter. Finally, Lodge Hill Capital LLC grew its stake in Mr. Cooper Group by 315.6% during the fourth quarter. Lodge Hill Capital LLC now owns 166,640 shares of the company's stock valued at $15,999,000 after acquiring an additional 126,540 shares in the last quarter. Hedge funds and other institutional investors own 89.82% of the company's stock.

Mr. Cooper Group Price Performance

Shares of COOP traded down $4.42 during midday trading on Friday, hitting $114.57. The stock had a trading volume of 1,090,781 shares, compared to its average volume of 584,185. The firm has a market cap of $7.33 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 0.32 and a beta of 1.06. Mr. Cooper Group Inc. has a 1 year low of $78.20 and a 1 year high of $137.60. The stock's 50 day moving average is $112.79 and its 200 day moving average is $104.17.

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

Wall Street Analysts Forecast Growth

COOP has been the subject of several research reports. JMP Securities reissued a "market outperform" rating and set a $115.00 price objective on shares of Mr. Cooper Group in a report on Thursday, February 13th. UBS Group lifted their price objective on Mr. Cooper Group from $135.00 to $145.00 and gave the stock a "buy" rating in a research note on Wednesday, April 16th. 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 report on Tuesday, April 8th. Barclays boosted their price target on shares of Mr. Cooper Group from $130.00 to $147.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 8th. Finally, Piper Sandler lowered shares of Mr. Cooper Group from an "overweight" rating to a "neutral" rating and increased their price objective for the company from $125.00 to $143.00 in a research report on Friday, April 4th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $131.14.

Insider Transactions at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $112.24, for a total value of $3,367,200.00. Following the completion of the sale, the chief executive officer now owns 698,821 shares in the company, valued at approximately $78,435,669.04. The trade was a 4.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.73% of the company's stock.

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.