Counterpoint Mutual Funds LLC acquired a new position in shares of Mr. Cooper Group Inc. (NASDAQ:COOP – Get Rating) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,661 shares of the company's stock, valued at approximately $229,000.
A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Mr. Cooper Group by 25.0% during the first quarter. Vanguard Group Inc. now owns 8,125,291 shares of the company's stock worth $371,082,000 after acquiring an additional 1,622,582 shares in the last quarter. HG Vora Capital Management LLC grew its position in Mr. Cooper Group by 80.6% during the first quarter. HG Vora Capital Management LLC now owns 3,250,000 shares of the company's stock worth $148,428,000 after buying an additional 1,450,000 shares in the last quarter. Wellington Management Group LLP lifted its stake in Mr. Cooper Group by 12,377.0% during the first quarter. Wellington Management Group LLP now owns 1,841,226 shares of the company's stock worth $84,089,000 after purchasing an additional 1,826,469 shares during the last quarter. Hsbc Holdings PLC lifted its stake in Mr. Cooper Group by 21.3% during the first quarter. Hsbc Holdings PLC now owns 1,221,178 shares of the company's stock worth $56,185,000 after purchasing an additional 214,049 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in Mr. Cooper Group by 639.1% during the second quarter. Millennium Management LLC now owns 1,127,666 shares of the company's stock worth $41,430,000 after purchasing an additional 975,097 shares during the last quarter. 83.91% of the stock is owned by institutional investors and hedge funds.
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Insider Buying and Selling
In other Mr. Cooper Group news, CEO Jesse K. Bray sold 21,000 shares of Mr. Cooper Group stock in a transaction on Monday, November 28th. The shares were sold at an average price of $44.24, for a total value of $929,040.00. Following the transaction, the chief executive officer now directly owns 718,291 shares of the company's stock, valued at $31,777,193.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 63,000 shares of company stock valued at $2,608,200 over the last 90 days. Corporate insiders own 2.59% of the company's stock.
Mr. Cooper Group Stock Down 0.2 %
COOP stock traded down $0.07 during trading on Monday, reaching $41.95. The company's stock had a trading volume of 4,663 shares, compared to its average volume of 602,900. 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 capitalization of $2.96 billion, a P/E ratio of 2.96 and a beta of 1.45. The company's fifty day moving average is $42.04 and its 200-day moving average is $41.98.
Mr. Cooper Group (NASDAQ:COOP – Get Rating) last released its quarterly earnings results on Wednesday, October 26th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.50 by $0.08. Mr. Cooper Group had a return on equity of 6.35% and a net margin of 38.66%. The company had revenue of $510.00 million during the quarter, compared to analyst estimates of $431.60 million. Analysts anticipate that Mr. Cooper Group Inc. will post 2.47 earnings per share for the current year.
Wall Street Analysts Forecast Growth
COOP has been the subject of several recent analyst reports. Piper Sandler upped their target price on Mr. Cooper Group from $63.00 to $64.00 and gave the stock an "overweight" rating in a research note on Thursday, November 10th. Barclays increased their target price on Mr. Cooper Group from $40.00 to $41.00 in a research report on Friday. Wedbush dropped their target price on Mr. Cooper Group from $60.00 to $55.00 in a research report on Thursday, October 27th. Finally, Compass Point decreased their price target on Mr. Cooper Group to $64.00 in a research note on Tuesday, November 1st. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $55.80.
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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