Wealthfront Advisers LLC Invests $9.80 Million in Mr. Cooper Group Inc. (NASDAQ:COOP)

Wealthfront Advisers LLC acquired a new position in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 102,019 shares of the company’s stock, valued at approximately $9,795,000. Wealthfront Advisers LLC owned 0.16% of Mr. Cooper Group at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. MassMutual Private Wealth & Trust FSB raised its holdings in Mr. Cooper Group by 9,175.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 4,916 shares of the company’s stock valued at $472,000 after buying an additional 4,863 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Mr. Cooper Group by 6.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 916,365 shares of the company’s stock valued at $84,471,000 after buying an additional 52,001 shares during the period. Cynosure Group LLC purchased a new position in Mr. Cooper Group in the third quarter valued at approximately $730,000. World Investment Advisors LLC purchased a new position in Mr. Cooper Group in the third quarter valued at approximately $2,537,000. Finally, Spire Wealth Management purchased a new position in Mr. Cooper Group in the fourth quarter valued at approximately $1,480,000. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on COOP. Piper Sandler increased their price objective on shares of Mr. Cooper Group from $113.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Keefe, Bruyette & Woods increased their price objective on shares of Mr. Cooper Group from $105.00 to $115.00 and gave the company a “market perform” rating in a research report on Thursday, February 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $115.00 price objective on shares of Mr. Cooper Group in a research report on Thursday, February 13th. Barclays lifted their price target on shares of Mr. Cooper Group from $111.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Finally, UBS Group lifted their price target on shares of Mr. Cooper Group from $122.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Mr. Cooper Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.22.

Mr. Cooper Group Trading Down 1.3 %

Shares of COOP opened at $99.22 on Wednesday. The stock has a market cap of $6.31 billion, a P/E ratio of 9.75, a price-to-earnings-growth ratio of 0.32 and a beta of 1.49. The stock’s 50-day moving average price is $103.87 and its two-hundred day moving average price is $97.53. Mr. Cooper Group Inc. has a 1 year low of $72.00 and a 1 year high of $114.05.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings results on Wednesday, February 12th. The company reported $2.73 EPS for the quarter, topping analysts’ consensus estimates of $2.65 by $0.08. Mr. Cooper Group had a return on equity of 14.76% and a net margin of 30.07%. As a group, equities analysts forecast that Mr. Cooper Group Inc. will post 13.17 EPS for the current year.

Insider Activity at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 30,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $94.49, for a total value of $2,834,700.00. Following the completion of the sale, the chief executive officer now directly owns 758,821 shares in the company, valued at $71,700,996.29. The trade was a 3.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.33% of the stock is owned by insiders.

Mr. Cooper Group Company 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.