HighTower Advisors LLC Purchases New Shares in Mr. Cooper Group Inc. (NASDAQ:COOP)

HighTower Advisors LLC bought a new stake in Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) during the third quarter, according to its most recent filing with the SEC. The firm bought 25,519 shares of the company's stock, valued at approximately $2,353,000.

Several other institutional investors have also recently bought and sold shares of COOP. Charles Schwab Investment Management Inc. grew its position in shares of Mr. Cooper Group by 6.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 916,365 shares of the company's stock valued at $84,471,000 after purchasing an additional 52,001 shares during the last quarter. Cynosure Group LLC bought a new stake in Mr. Cooper Group during the 3rd quarter valued at approximately $730,000. FMR LLC boosted its stake 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 period. Los Angeles Capital Management LLC grew its holdings in Mr. Cooper Group by 50.7% in the 3rd quarter. Los Angeles Capital Management LLC now owns 32,592 shares of the company's stock valued at $3,004,000 after buying an additional 10,964 shares during the last quarter. Finally, Waterfall Asset Management LLC bought a new position in Mr. Cooper Group in the 2nd quarter worth approximately $809,000. Institutional investors own 89.82% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. 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 research report on Thursday, October 24th. Wedbush reiterated an "outperform" rating and set a $115.00 target price on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Finally, Barclays raised 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 report on Tuesday, October 8th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $100.57.

Mr. Cooper Group Trading Up 1.6 %

COOP stock traded up $1.48 during midday trading on Friday, hitting $96.84. The stock had a trading volume of 339,093 shares, compared to its average volume of 341,348. Mr. Cooper Group Inc. has a 52 week low of $61.38 and a 52 week high of $103.05. The stock has a 50-day simple moving average of $95.31 and a 200 day simple moving average of $89.95. The firm has a market capitalization of $6.20 billion, a price-to-earnings ratio of 12.51 and a beta of 1.41.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $2.84 EPS for the quarter, topping analysts' consensus estimates of $2.54 by $0.30. The company 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 firm's revenue for the quarter was up 32.8% compared to the same quarter last year. During the same period last year, the firm earned $2.79 EPS. On average, equities analysts forecast that Mr. Cooper Group Inc. will post 10.16 EPS for the current year.

Insiders Place Their Bets

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction on Friday, November 1st. The stock was 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 of the company's stock, valued at approximately $72,391,964.61. This trade represents a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.33% of the company's stock.

About Mr. Cooper Group

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.