Cerity Partners LLC Purchases New Shares in Mr. Cooper Group Inc. (NASDAQ:COOP)

Cerity Partners LLC purchased a new stake in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 276 shares of the company’s stock, valued at approximately $773,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Citigroup Inc. grew its position in Mr. Cooper Group by 33.9% during the fourth quarter. Citigroup Inc. now owns 57,534 shares of the company’s stock valued at $2,309,000 after buying an additional 14,567 shares during the period. Vestor Capital LLC grew its position in shares of Mr. Cooper Group by 367.6% in the first quarter. Vestor Capital LLC now owns 5,822 shares of the company’s stock valued at $167,000 after purchasing an additional 4,577 shares during the period. CX Institutional acquired a new stake in shares of Mr. Cooper Group in the first quarter valued at about $4,249,000. Assetmark Inc. grew its position in shares of Mr. Cooper Group by 11.3% in the first quarter. Assetmark Inc. now owns 83,689 shares of the company’s stock valued at $3,429,000 after purchasing an additional 8,489 shares during the period. Finally, Oliver Luxxe Assets LLC acquired a new stake in shares of Mr. Cooper Group in the first quarter valued at about $778,000. Institutional investors and hedge funds own 80.46% of the company’s stock.

Insider Activity

In related news, CEO Michael R. Rawls sold 33,000 shares of Mr. Cooper Group stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $59.17, for a total value of $1,952,610.00. Following the completion of the transaction, the chief executive officer now owns 82,263 shares in the company, valued at $4,867,501.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Mr. Cooper Group news, CEO Jesse K. Bray sold 21,000 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $58.72, for a total transaction of $1,233,120.00. Following the completion of the transaction, the chief executive officer now owns 538,821 shares in the company, valued at approximately $31,639,569.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael R. Rawls sold 33,000 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $59.17, for a total transaction of $1,952,610.00. Following the completion of the transaction, the chief executive officer now owns 82,263 shares of the company’s stock, valued at approximately $4,867,501.71. The disclosure for this sale can be found here. In the last three months, insiders have sold 96,000 shares of company stock valued at $5,411,520. Company insiders own 3.11% of the company’s stock.

Mr. Cooper Group Stock Performance

Mr. Cooper Group stock opened at $56.79 on Monday. The company’s 50 day simple moving average is $54.86 and its 200-day simple moving average is $48.22. The company has a market capitalization of $3.80 billion, a price-to-earnings ratio of 13.68 and a beta of 1.58. Mr. Cooper Group Inc. has a 1 year low of $37.54 and a 1 year high of $60.68.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings results on Wednesday, July 26th. The company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.44. The business had revenue of $486.00 million for the quarter, compared to the consensus estimate of $422.27 million. Mr. Cooper Group had a net margin of 17.99% and a return on equity of 7.42%. Equities analysts expect that Mr. Cooper Group Inc. will post 6.28 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Piper Sandler lifted their target price on shares of Mr. Cooper Group from $63.00 to $72.00 in a research report on Thursday, July 27th. Credit Suisse Group lifted their target price on shares of Mr. Cooper Group from $57.00 to $59.00 in a research report on Friday, May 12th. Finally, Wedbush raised their price target on shares of Mr. Cooper Group from $55.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th.

Mr. Cooper Group Profile

Mr. Cooper Group Inc engages in non-banking services for mortgage loans 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.