Cambria Investment Management L.P. Has $8 Million Position in Mr. Cooper Group Inc. (NASDAQ:COOP)

Cambria Investment Management L.P. lessened its stake in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) by 4.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 157,937 shares of the company’s stock after selling 7,589 shares during the period. Cambria Investment Management L.P. owned 0.24% of Mr. Cooper Group worth $7,998,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of COOP. Cerity Partners LLC acquired a new position in Mr. Cooper Group during the first quarter worth $773,000. Federated Hermes Inc. raised its holdings in Mr. Cooper Group by 55.1% during the third quarter. Federated Hermes Inc. now owns 752 shares of the company’s stock worth $30,000 after buying an additional 267 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in Mr. Cooper Group by 95.0% during the first quarter. Nomura Asset Management Co. Ltd. now owns 780 shares of the company’s stock worth $32,000 after buying an additional 380 shares during the last quarter. Bartlett & Co. LLC acquired a new position in Mr. Cooper Group during the second quarter worth $42,000. Finally, Point72 Middle East FZE bought a new stake in shares of Mr. Cooper Group in the 4th quarter worth $38,000. Institutional investors and hedge funds own 80.46% of the company’s stock.

Insiders Place Their Bets

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 25,000 shares of the stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $53.87, for a total transaction of $1,346,750.00. Following the completion of the transaction, the chief executive officer now owns 491,051 shares in the company, valued at $26,452,917.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Shveta Mujumdar sold 1,800 shares of the stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $56.88, for a total value of $102,384.00. Following the sale, the director now directly owns 22,244 shares of the company’s stock, valued at $1,265,238.72. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jesse K. Bray sold 25,000 shares of the stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $53.87, for a total transaction of $1,346,750.00. Following the completion of the sale, the chief executive officer now directly owns 491,051 shares in the company, valued at $26,452,917.37. The disclosure for this sale can be found here. Insiders sold 72,800 shares of company stock worth $4,028,804 over the last quarter. 3.11% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Wedbush upped their target price on shares of Mr. Cooper Group from $55.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. Piper Sandler upped their target price on shares of Mr. Cooper Group from $77.00 to $79.00 and gave the stock an “overweight” rating in a research note on Thursday, October 26th. Keefe, Bruyette & Woods upgraded shares of Mr. Cooper Group from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $62.00 to $65.00 in a research note on Monday, October 2nd. Compass Point upped their target price on shares of Mr. Cooper Group from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, September 19th. Finally, Barclays started coverage on shares of Mr. Cooper Group in a research report on Wednesday. They set an “overweight” rating and a $74.00 price target for the company. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $68.83.

Mr. Cooper Group Price Performance

NASDAQ:COOP traded up $0.65 on Wednesday, reaching $57.50. 26,900 shares of the company’s stock were exchanged, compared to its average volume of 604,343. The firm has a market cap of $3.79 billion, a price-to-earnings ratio of 8.54 and a beta of 1.54. Mr. Cooper Group Inc. has a 52 week low of $37.54 and a 52 week high of $60.68. The stock has a fifty day simple moving average of $54.81 and a 200-day simple moving average of $52.45.

Mr. Cooper Group Profile

Mr. Cooper Group Inc engages in non-banking services for mortgage loans the United States. The company operates through two segments: Servicing and Originations. The Servicing segment performs activities for underlying mortgages, including collecting and disbursing borrower payments, investor reporting, customer service, and modifying loans.