Mr. Cooper Group Inc. (NASDAQ:COOP) Shares Bought by Assetmark Inc.

Assetmark Inc. raised its position in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) by 6.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,127 shares of the company’s stock after purchasing an additional 667 shares during the quarter. Assetmark Inc.’s holdings in Mr. Cooper Group were worth $1,026,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. acquired a new stake in Mr. Cooper Group during the 3rd quarter valued at $52,000. First Trust Direct Indexing L.P. raised its stake in Mr. Cooper Group by 7.6% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 3,021 shares of the company’s stock valued at $278,000 after purchasing an additional 213 shares during the period. Bernzott Capital Advisors raised its stake in Mr. Cooper Group by 0.8% during the 3rd quarter. Bernzott Capital Advisors now owns 81,657 shares of the company’s stock valued at $7,527,000 after purchasing an additional 680 shares during the period. Financial Management Professionals Inc. acquired a new stake in Mr. Cooper Group during the 3rd quarter valued at $30,000. Finally, Mayfair Advisory Group LLC acquired a new stake in Mr. Cooper Group during the 3rd quarter valued at $316,000. 89.82% of the stock is owned by institutional investors and hedge funds.

Mr. Cooper Group Price Performance

Mr. Cooper Group stock opened at $96.85 on Friday. The company has a market capitalization of $6.20 billion, a price-to-earnings ratio of 12.51 and a beta of 1.40. Mr. Cooper Group Inc. has a one year low of $56.64 and a one year high of $103.05. The company’s fifty day moving average price is $92.74 and its two-hundred day moving average price is $87.65.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share (EPS) for the quarter, beating 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 company had revenue of $616.00 million during the quarter, compared to analysts’ expectations of $548.09 million. During the same period in the prior year, the company earned $2.79 earnings per share. The business’s quarterly revenue was up 32.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Mr. Cooper Group Inc. will post 10.17 earnings per share for the current year.

Insider Buying and Selling at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $88.41, for a total transaction of $2,652,300.00. Following the completion of the sale, the chief executive officer now directly owns 818,821 shares in the company, valued at $72,391,964.61. This represents a 3.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.33% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on COOP shares. Keefe, Bruyette & Woods downgraded shares of Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 target price on the stock. in a research note on Monday, July 22nd. Compass Point upped their price target on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Barclays upped their price target on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Wedbush reaffirmed an “outperform” rating and issued a $115.00 price target on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Finally, 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 note on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $98.00.

Mr. Cooper Group 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.