American Century Companies Inc. boosted its position in Mr. Cooper Group Inc. (NASDAQ:COOP – Get Rating) by 30.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 337,741 shares of the company's stock after buying an additional 78,400 shares during the quarter. American Century Companies Inc. owned approximately 0.46% of Mr. Cooper Group worth $15,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also bought and sold shares of COOP. James Investment Research Inc. purchased a new stake in Mr. Cooper Group in the first quarter worth $26,000. Counterpoint Mutual Funds LLC bought a new position in shares of Mr. Cooper Group in the first quarter worth $65,000. National Bank of Canada FI bought a new position in shares of Mr. Cooper Group in the first quarter worth $85,000. Maverick Capital Ltd. bought a new position in shares of Mr. Cooper Group in the fourth quarter worth $132,000. Finally, Convergence Investment Partners LLC bought a new position in shares of Mr. Cooper Group in the first quarter worth $230,000. 86.68% of the stock is owned by hedge funds and other institutional investors.
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Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the company. Credit Suisse Group cut their price target on Mr. Cooper Group to $55.00 in a report on Friday, July 22nd. Barclays dropped their price objective on Mr. Cooper Group from $44.00 to $43.00 and set an "equal weight" rating for the company in a research note on Monday, July 11th. Finally, TheStreet raised Mr. Cooper Group from a "c+" rating to a "b" rating in a research note on Wednesday, May 4th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, Mr. Cooper Group has a consensus rating of "Moderate Buy" and an average target price of $57.25.
Mr. Cooper Group Stock Down 0.6 %
Shares of COOP stock opened at $42.30 on Thursday. The business has a 50-day moving average price of $41.68 and a two-hundred day moving average price of $43.89. Mr. Cooper Group Inc. has a 12-month low of $35.81 and a 12-month high of $52.34. The firm has a market cap of $3.03 billion, a P/E ratio of 2.66 and a beta of 1.49.
Mr. Cooper Group (NASDAQ:COOP – Get Rating) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.15. Mr. Cooper Group had a return on equity of 11.01% and a net margin of 39.35%. The firm had revenue of $599.00 million during the quarter, compared to analyst estimates of $434.70 million. As a group, research analysts expect that Mr. Cooper Group Inc. will post 2.84 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, CEO Jesse K. Bray sold 46,000 shares of Mr. Cooper Group stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $40.23, for a total value of $1,850,580.00. Following the transaction, the chief executive officer now owns 608,767 shares in the company, valued at $24,490,696.41. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold a total of 138,000 shares of company stock valued at $5,610,160 over the last 90 days. Insiders own 2.59% of the company's stock.
About Mr. Cooper Group
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Mr. Cooper Group Inc provides servicing, origination, and transaction-based services related to single-family residences in the United States. The company operates through two segments: Servicing and Originations. The Servicing segment performs activities for underlying mortgages, including collecting and disbursing borrower payments, investor reporting, customer service, and modifying loans.
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