Bank of New York Mellon Corp raised its holdings in shares of Mr. Cooper Group Inc. (NASDAQ:COOP – Get Rating) by 2.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 814,778 shares of the company's stock after purchasing an additional 19,733 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.10% of Mr. Cooper Group worth $37,210,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in COOP. State Street Corp lifted its holdings in Mr. Cooper Group by 7.0% during the 4th quarter. State Street Corp now owns 3,378,971 shares of the company's stock valued at $140,599,000 after purchasing an additional 221,443 shares during the last quarter. Cobalt Capital Management Inc. increased its position in Mr. Cooper Group by 82.4% during the 4th quarter. Cobalt Capital Management Inc. now owns 456,000 shares of the company's stock worth $18,974,000 after buying an additional 206,000 shares during the period. Symmetry Investments LP bought a new position in Mr. Cooper Group during the 4th quarter worth $7,764,000. Invesco Ltd. increased its position in Mr. Cooper Group by 29.5% during the 4th quarter. Invesco Ltd. now owns 806,446 shares of the company's stock worth $33,556,000 after buying an additional 183,810 shares during the period. Finally, Renaissance Technologies LLC increased its position in Mr. Cooper Group by 1,028.2% during the 4th quarter. Renaissance Technologies LLC now owns 152,299 shares of the company's stock worth $6,337,000 after buying an additional 138,800 shares during the period. Institutional investors and hedge funds own 86.68% of the company's stock.
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Wall Street Analysts Forecast Growth
Several research firms have weighed in on COOP. Credit Suisse Group lowered their price objective on Mr. Cooper Group to $55.00 in a research report on Friday, July 22nd. Barclays lowered their price objective on Mr. Cooper Group from $44.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Monday, July 11th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $57.25.
Mr. Cooper Group Trading Down 2.9 %
Shares of Mr. Cooper Group stock opened at $40.11 on Wednesday. The company has a 50 day moving average of $41.76 and a 200-day moving average of $43.82. Mr. Cooper Group Inc. has a 1-year low of $35.81 and a 1-year high of $52.34. The company has a market cap of $2.87 billion, a PE ratio of 2.52 and a beta of 1.50.
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 for the quarter, topping analysts' consensus estimates of $0.02 by $0.15. Mr. Cooper Group had a net margin of 39.35% and a return on equity of 11.01%. The company had revenue of $599.00 million during the quarter, compared to the consensus estimate of $434.70 million. Research analysts forecast that Mr. Cooper Group Inc. will post 2.84 earnings per share for the current year.
Insider Transactions at Mr. Cooper Group
In other news, CEO Jesse K. Bray sold 46,000 shares of the company's stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $40.23, for a total transaction of $1,850,580.00. Following the completion of the sale, the chief executive officer now owns 608,767 shares of the company's stock, valued at approximately $24,490,696.41. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 138,000 shares of company stock valued at $5,610,160. Company 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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