Wealth Enhancement Advisory Services LLC Takes Position in Mr. Cooper Group Inc $COOP

Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Mr. Cooper Group Inc (NASDAQ:COOPFree Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 13,778 shares of the company’s stock, valued at approximately $2,085,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of COOP. GAMMA Investing LLC grew its stake in shares of Mr. Cooper Group by 14,148.0% during the first quarter. GAMMA Investing LLC now owns 311,319 shares of the company’s stock valued at $37,234,000 after buying an additional 309,134 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Mr. Cooper Group by 11.8% during the first quarter. Invesco Ltd. now owns 2,013,536 shares of the company’s stock worth $240,819,000 after purchasing an additional 213,167 shares during the period. Nuveen LLC purchased a new stake in shares of Mr. Cooper Group during the first quarter worth about $24,037,000. Assenagon Asset Management S.A. boosted its holdings in shares of Mr. Cooper Group by 13.9% during the first quarter. Assenagon Asset Management S.A. now owns 1,057,176 shares of the company’s stock worth $126,438,000 after purchasing an additional 129,414 shares during the period. Finally, Alpine Associates Management Inc. purchased a new stake in shares of Mr. Cooper Group during the first quarter worth about $10,716,000. 89.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Jefferies Financial Group increased their target price on shares of Mr. Cooper Group from $110.00 to $150.00 and gave the stock a “hold” rating in a report on Tuesday, July 22nd. Barclays increased their target price on shares of Mr. Cooper Group from $147.00 to $156.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. UBS Group set a $176.00 target price on shares of Mr. Cooper Group in a report on Tuesday, August 5th. Finally, Piper Sandler increased their target price on shares of Mr. Cooper Group from $143.00 to $158.00 and gave the stock a “neutral” rating in a report on Tuesday, July 1st. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $140.38.

Check Out Our Latest Analysis on COOP

Mr. Cooper Group Stock Performance

COOP stock opened at $212.26 on Monday. The firm has a 50 day moving average price of $192.25 and a 200-day moving average price of $150.58. Mr. Cooper Group Inc has a 52-week low of $84.68 and a 52-week high of $234.73. The firm has a market capitalization of $13.58 billion, a price-to-earnings ratio of 24.29 and a beta of 0.97.

Mr. Cooper Group (NASDAQ:COOPGet Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $3.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.28 by ($0.15). Mr. Cooper Group had a net margin of 25.38% and a return on equity of 15.66%. The business had revenue of $608.00 million for the quarter, compared to analysts’ expectations of $669.23 million. During the same quarter in the previous year, the business posted $3.10 earnings per share. Mr. Cooper Group’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, sell-side analysts forecast that Mr. Cooper Group Inc will post 13.17 earnings per share for the current fiscal year.

Mr. Cooper Group Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Tuesday, October 7th. Stockholders of record on Monday, September 29th will be issued a dividend of $0.01 per share. The ex-dividend date is Monday, September 29th.

Insider Activity

In other news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $182.43, for a total transaction of $5,472,900.00. Following the completion of the transaction, the chief executive officer directly owned 633,187 shares in the company, valued at approximately $115,512,304.41. This trade represents a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 90,000 shares of company stock worth $15,278,700 in the last ninety days. 2.33% of the stock is currently owned by company insiders.

Mr. Cooper Group Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Mr. Cooper Group (NASDAQ:COOP)

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