Mr. Cooper Group Inc (NASDAQ:COOP) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its position in Mr. Cooper Group Inc (NASDAQ:COOP) by 359.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 113,824 shares of the company’s stock after buying an additional 89,031 shares during the period. Envestnet Asset Management Inc. owned about 0.18% of Mr. Cooper Group worth $13,613,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. First Horizon Advisors Inc. acquired a new stake in Mr. Cooper Group in the 1st quarter worth about $26,000. USA Financial Formulas acquired a new stake in Mr. Cooper Group in the 1st quarter worth about $55,000. Kapitalo Investimentos Ltda acquired a new stake in Mr. Cooper Group in the 4th quarter worth about $70,000. Covestor Ltd boosted its holdings in Mr. Cooper Group by 418.9% in the 4th quarter. Covestor Ltd now owns 742 shares of the company’s stock worth $71,000 after buying an additional 599 shares during the last quarter. Finally, National Bank of Canada FI acquired a new stake in Mr. Cooper Group in the 4th quarter worth about $78,000. 89.82% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

COOP has been the topic of several research analyst reports. Keefe, Bruyette & Woods lifted their price objective on Mr. Cooper Group from $115.00 to $143.00 and gave the stock a “market perform” rating in a report on Tuesday, April 8th. UBS Group reissued a “neutral” rating and issued a $156.00 target price on shares of Mr. Cooper Group in a research note on Tuesday. Barclays raised their target price on shares of Mr. Cooper Group from $147.00 to $156.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. Citizens Jmp lowered shares of Mr. Cooper Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 1st. Finally, Piper Sandler raised their target price on shares of Mr. Cooper Group from $143.00 to $158.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 1st. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Mr. Cooper Group has an average rating of “Moderate Buy” and a consensus target price of $136.14.

Mr. Cooper Group Stock Performance

COOP stock opened at $150.43 on Friday. The firm has a market cap of $9.63 billion, a PE ratio of 17.09, a PEG ratio of 0.43 and a beta of 1.05. The firm’s 50 day moving average price is $140.07 and its 200-day moving average price is $119.40. Mr. Cooper Group Inc has a one year low of $80.35 and a one year high of $158.00.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $2.97 EPS for the quarter, beating the consensus estimate of $2.81 by $0.16. The firm had revenue of $560.00 million for the quarter, compared to analyst estimates of $620.57 million. Mr. Cooper Group had a net margin of 25.93% and a return on equity of 15.27%. The business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.73 EPS. Equities research analysts predict that Mr. Cooper Group Inc will post 13.17 EPS for the current fiscal year.

Insider Activity at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $152.14, for a total transaction of $4,564,200.00. Following the sale, the chief executive officer owned 693,187 shares of the company’s stock, valued at approximately $105,461,470.18. The trade was a 4.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.73% of the company’s stock.

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.