Cynosure Group LLC Makes New Investment in Mr. Cooper Group Inc. (NASDAQ:COOP)

Cynosure Group LLC acquired a new position in Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,924 shares of the company's stock, valued at approximately $730,000.

Several other hedge funds also recently added to or reduced their stakes in the business. FMR LLC grew its position in Mr. Cooper Group by 42.9% in the third quarter. FMR LLC now owns 485,907 shares of the company's stock worth $44,791,000 after acquiring an additional 145,767 shares during the period. Harvest Fund Management Co. Ltd increased its position in Mr. Cooper Group by 152.5% during the third quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company's stock worth $41,000 after buying an additional 270 shares during the period. Citigroup Inc. increased its holdings in shares of Mr. Cooper Group by 37.5% in the 3rd quarter. Citigroup Inc. now owns 88,249 shares of the company's stock valued at $8,135,000 after acquiring an additional 24,087 shares during the period. Charles Schwab Investment Management Inc. increased 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 valued at $84,471,000 after acquiring an additional 52,001 shares during the period. Finally, Navellier & Associates Inc. acquired a new stake in Mr. Cooper Group during the 3rd quarter worth $631,000. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

COOP has been the subject of a number of recent research reports. Barclays increased 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. Compass Point lifted their target price on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Finally, Wedbush restated an "outperform" rating and set a $115.00 target price on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $98.00.

Mr. Cooper Group Trading Up 0.2 %

COOP traded up $0.22 during trading on Wednesday, hitting $98.51. 124,694 shares of the company's stock were exchanged, compared to its average volume of 450,220. The firm has a market cap of $6.30 billion, a P/E ratio of 12.77 and a beta of 1.40. The stock has a 50 day moving average price of $93.92 and a 200 day moving average price of $88.74. Mr. Cooper Group Inc. has a 1 year low of $59.03 and a 1 year high of $103.05.

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

Insider Activity

In related news, CEO Jesse K. Bray sold 30,000 shares of the company's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $88.41, for a total value of $2,652,300.00. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.33% of the company's stock.

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.