Cynosure Group LLC Takes Position in Mr. Cooper Group Inc. (NASDAQ:COOP)

Cynosure Group LLC acquired a new position in Mr. Cooper Group Inc. (NASDAQ:COOP) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 7,924 shares of the company’s stock, valued at approximately $730,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in COOP. Financial Management Professionals Inc. purchased a new position in Mr. Cooper Group in the 3rd quarter worth approximately $30,000. Blue Trust Inc. increased its holdings in shares of Mr. Cooper Group by 77.1% in the second quarter. Blue Trust Inc. now owns 333 shares of the company’s stock worth $26,000 after buying an additional 145 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Mr. Cooper Group by 8,275.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company’s stock valued at $27,000 after acquiring an additional 331 shares during the last quarter. Quarry LP purchased a new stake in Mr. Cooper Group during the 2nd quarter valued at about $29,000. Finally, Harvest Fund Management Co. Ltd grew its position in Mr. Cooper Group by 152.5% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock worth $41,000 after acquiring an additional 270 shares during the last quarter. Hedge funds and other institutional investors own 89.82% of the company’s stock.

Analyst Upgrades and Downgrades

COOP has been the subject of a number of analyst reports. Barclays increased their price objective on Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Wedbush reaffirmed an “outperform” rating and issued a $115.00 price target on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Finally, Compass Point raised their target price on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $98.00.

Insider Activity at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction dated 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 completion of the transaction, the chief executive officer now 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 legal filing with the SEC, which is accessible through this hyperlink. 2.33% of the stock is owned by corporate insiders.

Mr. Cooper Group Stock Down 2.4 %

COOP stock opened at $98.29 on Wednesday. Mr. Cooper Group Inc. has a twelve month low of $59.03 and a twelve month high of $103.05. The business’s 50-day moving average price is $93.85 and its 200-day moving average price is $88.63. The stock has a market cap of $6.29 billion, a P/E ratio of 12.70 and a beta of 1.40.

Mr. Cooper Group (NASDAQ:COOP) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.30. The business had revenue of $616.00 million during the quarter, compared to the consensus estimate of $548.09 million. Mr. Cooper Group had a return on equity of 13.77% and a net margin of 25.87%. The firm’s revenue for the quarter was up 32.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.79 EPS. On average, equities research analysts expect that Mr. Cooper Group Inc. will post 10.16 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.