Citigroup Inc. Increases Position in Mr. Cooper Group Inc. (NASDAQ:COOP)

Citigroup Inc. lifted its stake in Mr. Cooper Group Inc. (NASDAQ:COOP) by 37.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 88,249 shares of the company’s stock after acquiring an additional 24,087 shares during the period. Citigroup Inc. owned 0.14% of Mr. Cooper Group worth $8,135,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Assenagon Asset Management S.A. raised its holdings in Mr. Cooper Group by 11.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,247,434 shares of the company’s stock worth $114,988,000 after purchasing an additional 125,055 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Mr. Cooper Group by 6.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 916,365 shares of the company’s stock worth $84,471,000 after acquiring an additional 52,001 shares in the last quarter. LSV Asset Management lifted its position in Mr. Cooper Group by 249.2% during the second quarter. LSV Asset Management now owns 633,260 shares of the company’s stock valued at $51,440,000 after acquiring an additional 451,926 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in 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 valued at $30,476,000 after acquiring an additional 354,905 shares in the last quarter. Finally, Hantz Financial Services Inc. purchased a new position in Mr. Cooper Group in the second quarter worth $21,609,000. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 30,000 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 818,821 shares in the company, valued at $72,391,964.61. The trade was a 3.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.33% of the company’s stock.

Mr. Cooper Group Stock Performance

Shares of COOP stock opened at $98.67 on Friday. Mr. Cooper Group Inc. has a fifty-two week low of $60.01 and a fifty-two week high of $103.05. The firm has a market capitalization of $6.31 billion, a PE ratio of 12.75 and a beta of 1.40. The stock’s 50-day simple moving average is $94.14 and its 200-day simple moving average is $88.87.

Mr. Cooper Group (NASDAQ:COOP) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $548.09 million. During the same quarter in the prior year, the company earned $2.79 EPS. Mr. Cooper Group’s quarterly revenue was up 32.8% on a year-over-year basis. Sell-side analysts forecast that Mr. Cooper Group Inc. will post 10.16 earnings per share for the current year.

Analyst Ratings Changes

COOP has been the subject of several analyst reports. Compass Point increased their price objective on Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Barclays increased their price target on Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Finally, Wedbush restated an “outperform” rating and set a $115.00 price target on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Mr. Cooper Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.00.

Mr. Cooper Group Company 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.