Mr. Cooper Group Inc. (NASDAQ:COOP) Shares Purchased by Basswood Capital Management L.L.C.

Basswood Capital Management L.L.C. raised its position in shares of Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) by 36.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 496,243 shares of the company's stock after buying an additional 132,970 shares during the quarter. Mr. Cooper Group comprises 2.4% of Basswood Capital Management L.L.C.'s portfolio, making the stock its 11th biggest holding. Basswood Capital Management L.L.C. owned approximately 0.78% of Mr. Cooper Group worth $45,744,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of COOP. Assenagon Asset Management S.A. increased its position 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 purchasing an additional 125,055 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Mr. Cooper Group by 6.0% in 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 during the last quarter. 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 purchasing an additional 451,926 shares during the period. FMR LLC grew its holdings in Mr. Cooper Group by 42.9% during the 3rd quarter. FMR LLC now owns 485,907 shares of the company's stock valued at $44,791,000 after purchasing an additional 145,767 shares during the last quarter. Finally, Hantz Financial Services Inc. purchased a new stake in Mr. Cooper Group in the 2nd quarter worth about $21,609,000. 89.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

COOP has been the topic of several recent analyst reports. Wedbush reiterated an "outperform" rating and issued a $115.00 price target on shares of Mr. Cooper Group in a report on Thursday, October 24th. Compass Point lifted their price objective on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Finally, Barclays boosted their price target on Mr. Cooper Group from $103.00 to $108.00 and gave the company an "overweight" rating in a report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $98.00.

Mr. Cooper Group Stock Performance

Shares of NASDAQ:COOP traded down $1.12 during midday trading on Monday, reaching $97.55. 179,711 shares of the company's stock traded hands, compared to its average volume of 449,029. The company has a fifty day simple moving average of $94.29 and a two-hundred day simple moving average of $89.08. Mr. Cooper Group Inc. has a 1 year low of $61.38 and a 1 year high of $103.05. The company has a market cap of $6.24 billion, a P/E ratio of 12.67 and a beta of 1.41.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The company reported $2.84 EPS for the quarter, beating analysts' consensus estimates of $2.54 by $0.30. The business had revenue of $616.00 million during the quarter, compared to analysts' expectations of $548.09 million. Mr. Cooper Group had a return on equity of 13.77% and a net margin of 25.87%. The business's revenue was up 32.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.79 earnings per share. As a group, research analysts forecast that Mr. Cooper Group Inc. will post 10.16 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jesse K. Bray sold 30,000 shares of the company's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $88.41, for a total value of $2,652,300.00. Following the completion of the transaction, the chief executive officer now directly owns 818,821 shares of the company's stock, valued at $72,391,964.61. This represents a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.33% of the stock is owned by company insiders.

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.