Deerfield Management Company L.P. Series C Invests $257,000 in Mr. Cooper Group Inc. (NASDAQ:COOP)

Deerfield Management Company L.P. Series C acquired a new position in Mr. Cooper Group Inc. (NASDAQ:COOP) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,164 shares of the company’s stock, valued at approximately $257,000.

A number of other institutional investors also recently bought and sold shares of COOP. AXA S.A. purchased a new stake in Mr. Cooper Group in the 2nd quarter worth approximately $907,000. Caxton Associates LP increased its stake in shares of Mr. Cooper Group by 5.1% in the second quarter. Caxton Associates LP now owns 70,383 shares of the company’s stock worth $5,717,000 after purchasing an additional 3,446 shares in the last quarter. Cubist Systematic Strategies LLC raised its position in shares of Mr. Cooper Group by 746.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 66,753 shares of the company’s stock valued at $5,422,000 after purchasing an additional 58,867 shares during the period. Aristeia Capital L.L.C. lifted its stake in shares of Mr. Cooper Group by 4.2% during the 2nd quarter. Aristeia Capital L.L.C. now owns 4,197 shares of the company’s stock valued at $341,000 after buying an additional 169 shares in the last quarter. Finally, Point72 DIFC Ltd boosted its holdings in Mr. Cooper Group by 11.9% in the 2nd quarter. Point72 DIFC Ltd now owns 8,214 shares of the company’s stock worth $667,000 after buying an additional 871 shares during the period. 89.82% of the stock is owned by institutional investors.

Mr. Cooper Group Price Performance

NASDAQ COOP opened at $91.07 on Friday. The stock has a market capitalization of $5.89 billion, a PE ratio of 9.54 and a beta of 1.41. Mr. Cooper Group Inc. has a 1-year low of $52.46 and a 1-year high of $96.00. The business has a 50 day simple moving average of $90.04 and a two-hundred day simple moving average of $83.68.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings results on Thursday, July 25th. The company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.19. Mr. Cooper Group had a net margin of 33.22% and a return on equity of 14.10%. The company had revenue of $583.00 million for the quarter, compared to analysts’ expectations of $552.09 million. During the same quarter in the previous year, the business posted $1.66 earnings per share. Mr. Cooper Group’s quarterly revenue was up 3.4% on a year-over-year basis. On average, analysts anticipate that Mr. Cooper Group Inc. will post 9.86 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on COOP shares. Keefe, Bruyette & Woods downgraded Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 price objective on the stock. in a research report on Monday, July 22nd. Piper Sandler upped their price target on Mr. Cooper Group from $91.00 to $106.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Wedbush lifted their price objective on shares of Mr. Cooper Group from $100.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Barclays boosted their target price on shares of Mr. Cooper Group from $94.00 to $103.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.57.

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.