HighTower Advisors LLC Invests $2.35 Million in Mr. Cooper Group Inc. (NASDAQ:COOP)

HighTower Advisors LLC bought a new stake in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) during the 3rd quarter, according to its most recent filing with the SEC. The firm bought 25,519 shares of the company’s stock, valued at approximately $2,353,000.

Several other hedge funds have also modified their holdings of the stock. Blue Trust Inc. grew its position in Mr. Cooper Group by 77.1% in the second quarter. Blue Trust Inc. now owns 333 shares of the company’s stock valued at $26,000 after acquiring an additional 145 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Mr. Cooper Group by 8,275.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company’s stock worth $27,000 after buying an additional 331 shares during the period. Quarry LP acquired a new position in Mr. Cooper Group in the 2nd quarter worth $29,000. Financial Management Professionals Inc. acquired a new position in Mr. Cooper Group in the 3rd quarter worth $30,000. Finally, Harvest Fund Management Co. Ltd grew its stake in shares of Mr. Cooper Group by 152.5% during the third quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock valued at $41,000 after acquiring an additional 270 shares in the last quarter. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

COOP has been the topic of several recent analyst reports. Barclays boosted their price target on Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Compass Point upped their target price on Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Wedbush reissued an “outperform” rating and set a $115.00 price target on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.57.

Mr. Cooper Group Stock Up 1.6 %

Shares of NASDAQ COOP opened at $96.84 on Friday. The stock’s 50 day moving average price is $95.31 and its two-hundred day moving average price is $89.90. Mr. Cooper Group Inc. has a 52-week low of $61.38 and a 52-week high of $103.05. The stock has a market capitalization of $6.20 billion, a P/E ratio of 12.51 and a beta of 1.41.

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

Insiders Place Their Bets

In other news, CEO Jesse K. Bray sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $88.41, for a total transaction of $2,652,300.00. Following the completion of the transaction, the chief executive officer now directly owns 818,821 shares of the company’s stock, valued at approximately $72,391,964.61. This represents a 3.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.33% of the stock is owned by corporate insiders.

Mr. Cooper Group 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.