Louisiana State Employees Retirement System Purchases Shares of 33,000 Mr. Cooper Group Inc. (NASDAQ:COOP)

Louisiana State Employees Retirement System purchased a new stake in Mr. Cooper Group Inc. (NASDAQ:COOP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 33,000 shares of the company’s stock, valued at approximately $2,149,000. Louisiana State Employees Retirement System owned approximately 0.05% of Mr. Cooper Group at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of COOP. Federated Hermes Inc. raised its stake in Mr. Cooper Group by 55.1% in the third quarter. Federated Hermes Inc. now owns 752 shares of the company’s stock valued at $30,000 after buying an additional 267 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in Mr. Cooper Group by 95.0% in the first quarter. Nomura Asset Management Co. Ltd. now owns 780 shares of the company’s stock valued at $32,000 after buying an additional 380 shares in the last quarter. Point72 Middle East FZE acquired a new stake in Mr. Cooper Group in the fourth quarter valued at $38,000. Public Employees Retirement System of Ohio raised its stake in Mr. Cooper Group by 54.8% in the third quarter. Public Employees Retirement System of Ohio now owns 986 shares of the company’s stock valued at $40,000 after buying an additional 349 shares in the last quarter. Finally, Global Retirement Partners LLC raised its stake in Mr. Cooper Group by 3,552.1% in the fourth quarter. Global Retirement Partners LLC now owns 1,753 shares of the company’s stock valued at $109,000 after buying an additional 1,705 shares in the last quarter. 89.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on COOP. Deutsche Bank Aktiengesellschaft began coverage on Mr. Cooper Group in a research note on Wednesday, January 10th. They issued a “buy” rating and a $88.00 price target on the stock. Barclays lifted their target price on Mr. Cooper Group from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods lifted their target price on Mr. Cooper Group from $83.00 to $86.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 9th. Finally, Wedbush lifted their target price on Mr. Cooper Group from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, February 12th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $78.50.

Mr. Cooper Group Stock Up 0.2 %

Shares of COOP stock opened at $75.71 on Thursday. The stock has a market capitalization of $4.94 billion, a PE ratio of 10.31 and a beta of 1.38. Mr. Cooper Group Inc. has a 52-week low of $41.74 and a 52-week high of $78.54. The stock’s 50-day moving average price is $74.22 and its 200 day moving average price is $65.54.

Mr. Cooper Group (NASDAQ:COOP) last issued its quarterly earnings results on Friday, February 9th. The company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.34. The firm had revenue of $404.00 million for the quarter, compared to analysts’ expectations of $398.31 million. Mr. Cooper Group had a return on equity of 12.01% and a net margin of 27.87%. Analysts expect that Mr. Cooper Group Inc. will post 9.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Mr. Cooper Group

In other Mr. Cooper Group news, President Michael S. Weinbach acquired 17,000 shares of the stock in a transaction on Tuesday, February 13th. The shares were bought at an average price of $71.16 per share, with a total value of $1,209,720.00. Following the acquisition, the president now owns 17,000 shares of the company’s stock, valued at $1,209,720. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Mr. Cooper Group news, CEO Jesse K. Bray sold 25,000 shares of Mr. Cooper Group stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $71.61, for a total value of $1,790,250.00. Following the sale, the chief executive officer now owns 366,051 shares of the company’s stock, valued at approximately $26,212,912.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Michael S. Weinbach acquired 17,000 shares of the stock in a transaction on Tuesday, February 13th. The stock was acquired at an average cost of $71.16 per share, for a total transaction of $1,209,720.00. Following the acquisition, the president now directly owns 17,000 shares in the company, valued at approximately $1,209,720. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 75,000 shares of company stock valued at $5,431,500. 3.11% of the stock is owned by corporate insiders.

About Mr. Cooper Group

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