Moran Wealth Management LLC Raises Holdings in Mr. Cooper Group Inc. (NASDAQ:COOP)

Moran Wealth Management LLC increased its position in Mr. Cooper Group Inc. (NASDAQ:COOP) by 17.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 2,557 shares of the company’s stock after purchasing an additional 379 shares during the period. Moran Wealth Management LLC’s holdings in Mr. Cooper Group were worth $245,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. State Street Corp increased its position in Mr. Cooper Group by 1.9% during the third quarter. State Street Corp now owns 2,726,946 shares of the company’s stock worth $251,370,000 after buying an additional 51,667 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Mr. Cooper Group by 6.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 916,365 shares of the company’s stock valued at $84,471,000 after acquiring an additional 52,001 shares during the period. Veridan Wealth LLC purchased a new stake in Mr. Cooper Group in the 4th quarter valued at $56,244,000. Basswood Capital Management L.L.C. boosted its stake in Mr. Cooper Group by 36.6% during the 3rd quarter. Basswood Capital Management L.L.C. now owns 496,243 shares of the company’s stock worth $45,744,000 after purchasing an additional 132,970 shares during the period. Finally, FMR LLC boosted its stake in Mr. Cooper Group by 42.9% during the 3rd quarter. FMR LLC now owns 485,907 shares of the company’s stock worth $44,791,000 after purchasing an additional 145,767 shares during the period. 89.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, CEO Jesse K. Bray sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $94.49, for a total transaction of $2,834,700.00. Following the sale, the chief executive officer now owns 758,821 shares of the company’s stock, valued at $71,700,996.29. The trade was a 3.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.33% of the stock is currently owned by company insiders.

Mr. Cooper Group Price Performance

Shares of COOP stock opened at $100.67 on Thursday. The business’s fifty day moving average price is $103.96 and its 200 day moving average price is $97.55. The firm has a market capitalization of $6.40 billion, a PE ratio of 9.89, a P/E/G ratio of 0.32 and a beta of 1.49. 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 posted its quarterly earnings results on Wednesday, February 12th. The company reported $2.73 earnings per share for the quarter, topping analysts’ consensus estimates of $2.65 by $0.08. Mr. Cooper Group had a net margin of 30.07% and a return on equity of 14.76%. Equities research analysts expect that Mr. Cooper Group Inc. will post 13.17 earnings per share for the current fiscal year.

About Mr. Cooper Group

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.