Intech Investment Management LLC Acquires 42,931 Shares of Mr. Cooper Group Inc. (NASDAQ:COOP)

Intech Investment Management LLC raised its stake in shares of Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) by 200.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,376 shares of the company's stock after acquiring an additional 42,931 shares during the quarter. Intech Investment Management LLC owned approximately 0.10% of Mr. Cooper Group worth $5,934,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in COOP. Blue Trust Inc. boosted its stake in Mr. Cooper Group by 77.1% during the 2nd quarter. Blue Trust Inc. now owns 333 shares of the company's stock valued at $26,000 after acquiring an additional 145 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Mr. Cooper Group by 8,275.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company's stock worth $27,000 after buying an additional 331 shares during the last quarter. Quarry LP bought a new position in shares of Mr. Cooper Group in the 2nd quarter worth about $29,000. Financial Management Professionals Inc. bought a new position in shares of Mr. Cooper Group in the 3rd quarter worth about $30,000. Finally, CWM LLC lifted its position in shares of Mr. Cooper Group by 34.5% in the 2nd quarter. CWM LLC now owns 601 shares of the company's stock worth $49,000 after buying an additional 154 shares during the last quarter. 89.82% of the stock is currently owned by institutional investors.

Mr. Cooper Group Price Performance

Shares of COOP traded up $1.09 during mid-day trading on Friday, hitting $99.42. The company's stock had a trading volume of 300,695 shares, compared to its average volume of 521,090. The firm has a 50-day moving average price of $93.73 and a 200 day moving average price of $88.43. The stock has a market capitalization of $6.36 billion, a price-to-earnings ratio of 12.84 and a beta of 1.40. Mr. Cooper Group Inc. has a fifty-two week low of $59.03 and a fifty-two week high of $103.05.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $2.84 earnings per share (EPS) 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 analysts' expectations of $548.09 million. During the same quarter in the previous year, the company posted $2.79 EPS. The business's revenue was up 32.8% compared to the same quarter last year. As a group, equities analysts anticipate that Mr. Cooper Group Inc. will post 10.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

COOP has been the topic of a number of recent research reports. Wedbush restated an "outperform" rating and issued a $115.00 price target on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Compass Point raised their price target 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. 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. Finally, Piper Sandler increased their price objective on shares of Mr. Cooper Group from $91.00 to $106.00 and gave the stock an "overweight" rating in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Mr. Cooper Group has an average rating of "Moderate Buy" and an average target price of $98.00.

Insiders Place Their Bets

In related news, CEO Jesse K. Bray sold 30,000 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 818,821 shares in the company, valued at approximately $72,391,964.61. This trade represents a 3.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate 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.