First Trust Direct Indexing L.P. Grows Stock Position in Mr. Cooper Group Inc. (NASDAQ:COOP)

First Trust Direct Indexing L.P. increased its holdings in Mr. Cooper Group Inc. (NASDAQ:COOP) by 7.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,021 shares of the company’s stock after buying an additional 213 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Mr. Cooper Group were worth $278,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in COOP. LSV Asset Management boosted its stake in shares of Mr. Cooper Group by 249.2% during the 2nd quarter. LSV Asset Management now owns 633,260 shares of the company’s stock worth $51,440,000 after acquiring an additional 451,926 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Mr. Cooper Group by 984.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 390,957 shares of the company’s stock worth $30,476,000 after buying an additional 354,905 shares during the period. Hantz Financial Services Inc. purchased a new position in shares of Mr. Cooper Group during the 2nd quarter valued at about $21,609,000. Cercano Management LLC lifted its position in shares of Mr. Cooper Group by 39.1% during the 1st quarter. Cercano Management LLC now owns 502,618 shares of the company’s stock valued at $39,179,000 after buying an additional 141,332 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Mr. Cooper Group by 11.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,247,434 shares of the company’s stock valued at $114,988,000 after acquiring an additional 125,055 shares during the period. 89.82% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Piper Sandler upped their price target on shares of Mr. Cooper Group from $91.00 to $106.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Wedbush reiterated an “outperform” rating and issued a $115.00 price target on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Compass Point raised their price target on Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Keefe, Bruyette & Woods lowered Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 price objective for the company. in a research note on Monday, July 22nd. Finally, Barclays boosted their price target on Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Mr. Cooper Group has an average rating of “Moderate Buy” and an average target price of $98.00.

Mr. Cooper Group Stock Performance

NASDAQ COOP opened at $90.60 on Tuesday. The stock has a 50 day moving average price of $91.86 and a 200-day moving average price of $86.58. Mr. Cooper Group Inc. has a one year low of $54.07 and a one year high of $97.35. The company has a market capitalization of $5.80 billion, a P/E ratio of 11.71 and a beta of 1.40.

Mr. Cooper Group (NASDAQ:COOP) last posted its earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.30. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%. The firm had revenue of $616.00 million for the quarter, compared to the consensus estimate of $548.09 million. During the same period in the previous year, the firm posted $2.79 EPS. The business’s quarterly revenue was up 32.8% on a year-over-year basis. As a group, equities analysts predict that Mr. Cooper Group Inc. will post 10.17 EPS 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.