Envestnet Asset Management Inc. Acquires 2,199 Shares of Mr. Cooper Group Inc. (NASDAQ:COOP)

Envestnet Asset Management Inc. boosted its holdings in Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) by 9.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,793 shares of the company's stock after purchasing an additional 2,199 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Mr. Cooper Group were worth $2,380,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in COOP. Picton Mahoney Asset Management grew its stake in shares of Mr. Cooper Group by 41.3% in the fourth quarter. Picton Mahoney Asset Management now owns 325 shares of the company's stock worth $31,000 after acquiring an additional 95 shares during the last quarter. Asset Planning Inc purchased a new stake in Mr. Cooper Group during the 4th quarter valued at about $48,000. ORG Partners LLC bought a new stake in Mr. Cooper Group during the 4th quarter valued at about $51,000. Blue Trust Inc. raised its holdings in Mr. Cooper Group by 38.8% in the fourth quarter. Blue Trust Inc. now owns 794 shares of the company's stock worth $76,000 after buying an additional 222 shares during the last quarter. Finally, National Bank of Canada FI purchased a new stake in shares of Mr. Cooper Group during the fourth quarter valued at approximately $78,000. Hedge funds and other institutional investors own 89.82% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on COOP. UBS Group increased their price objective on Mr. Cooper Group from $135.00 to $145.00 and gave the company a "buy" rating in a research report on Wednesday, April 16th. Citizens Jmp lowered shares of Mr. Cooper Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 1st. Piper Sandler downgraded shares of Mr. Cooper Group from an "overweight" rating to a "neutral" rating and increased their price objective for the company from $125.00 to $143.00 in a research report on Friday, April 4th. Barclays lifted their target price on shares of Mr. Cooper Group from $130.00 to $147.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods increased their price target on Mr. Cooper Group from $115.00 to $143.00 and gave the company a "market perform" rating in a report on Tuesday, April 8th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, Mr. Cooper Group presently has a consensus rating of "Moderate Buy" and a consensus target price of $131.14.

Mr. Cooper Group Trading Up 3.8 %

NASDAQ COOP traded up $4.37 on Tuesday, hitting $119.63. 570,392 shares of the company traded hands, compared to its average volume of 570,968. The business's 50 day moving average price is $111.38 and its 200-day moving average price is $102.70. Mr. Cooper Group Inc. has a 52-week low of $76.85 and a 52-week high of $137.60. The company has a market capitalization of $7.65 billion, a price-to-earnings ratio of 11.75, a P/E/G ratio of 0.32 and a beta of 1.17.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.16. The business had revenue of $560.00 million for the quarter, compared to the consensus estimate of $620.57 million. Mr. Cooper Group had a net margin of 30.07% and a return on equity of 14.76%. The company's revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.73 earnings per share. As a group, sell-side analysts predict that Mr. Cooper Group Inc. will post 13.17 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Jesse K. Bray sold 30,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $112.24, for a total transaction of $3,367,200.00. Following the completion of the transaction, the chief executive officer now owns 698,821 shares in the company, valued at $78,435,669.04. This trade represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.33% of the stock is currently 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.