CX Institutional Raises Stock Position in Mr. Cooper Group Inc. (NASDAQ:COOP)

CX Institutional boosted its stake in Mr. Cooper Group Inc. (NASDAQ:COOP) by 3.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,211 shares of the company’s stock after purchasing an additional 579 shares during the period. CX Institutional’s holdings in Mr. Cooper Group were worth $1,556,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. grew its stake in shares of Mr. Cooper Group by 5.0% in the second quarter. Envestnet Asset Management Inc. now owns 22,251 shares of the company’s stock valued at $1,807,000 after buying an additional 1,067 shares in the last quarter. Renaissance Technologies LLC grew its position in Mr. Cooper Group by 27.5% in the second quarter. Renaissance Technologies LLC now owns 69,599 shares of the company’s stock valued at $5,654,000 after acquiring an additional 15,000 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of Mr. Cooper Group by 4.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 8,210 shares of the company’s stock valued at $667,000 after purchasing an additional 362 shares during the period. Sei Investments Co. lifted its position in shares of Mr. Cooper Group by 63.7% during the second quarter. Sei Investments Co. now owns 59,152 shares of the company’s stock worth $4,805,000 after purchasing an additional 23,013 shares in the last quarter. Finally, Evergreen Capital Management LLC boosted its stake in shares of Mr. Cooper Group by 4.2% in the second quarter. Evergreen Capital Management LLC now owns 5,236 shares of the company’s stock valued at $425,000 after purchasing an additional 211 shares during the period. 89.82% of the stock is owned by hedge funds and other institutional investors.

Mr. Cooper Group Price Performance

COOP stock opened at $104.12 on Friday. The firm has a market cap of $6.66 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 0.30 and a beta of 1.43. Mr. Cooper Group Inc. has a 1-year low of $64.52 and a 1-year high of $105.00. The firm has a fifty day moving average price of $97.05 and a two-hundred day moving average price of $93.06.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.30. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%. The business had revenue of $616.00 million during the quarter, compared to the consensus estimate of $548.09 million. During the same quarter in the prior year, the firm earned $2.79 EPS. The company’s revenue for the quarter was up 32.8% compared to the same quarter last year. As a group, analysts expect that Mr. Cooper Group Inc. will post 10.18 EPS for the current fiscal year.

Insider Buying and Selling at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $88.41, for a total value of $2,652,300.00. Following the sale, the chief executive officer now directly owns 818,821 shares in the company, valued at approximately $72,391,964.61. This trade represents a 3.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 90,000 shares of company stock worth $8,414,400 over the last ninety days. Company insiders own 2.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on COOP. Wedbush reiterated an “outperform” rating and issued a $115.00 price objective on shares of Mr. Cooper Group in a report on Thursday, October 24th. Citizens Jmp upgraded Mr. Cooper Group to a “strong-buy” rating in a research note on Tuesday, January 14th. JMP Securities began coverage on Mr. Cooper Group in a research note on Tuesday, January 14th. They set an “outperform” rating and a $115.00 price objective for the company. Barclays upped their target price on Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Finally, Piper Sandler raised their price target on shares of Mr. Cooper Group from $113.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Mr. Cooper Group presently has an average rating of “Moderate Buy” and an average price target of $104.13.

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.