Picton Mahoney Asset Management Acquires New Position in Mr. Cooper Group Inc. (NASDAQ:COOP)

Picton Mahoney Asset Management acquired a new stake in Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 47,204 shares of the company's stock, valued at approximately $3,833,000. Picton Mahoney Asset Management owned about 0.07% of Mr. Cooper Group as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Mr. Cooper Group by 984.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 390,957 shares of the company's stock worth $30,476,000 after purchasing an additional 354,905 shares during the last quarter. K2 Principal Fund L.P. increased its position in shares of Mr. Cooper Group by 97.7% during the fourth quarter. K2 Principal Fund L.P. now owns 279,510 shares of the company's stock worth $18,202,000 after acquiring an additional 138,147 shares during the period. 1832 Asset Management L.P. purchased a new position in shares of Mr. Cooper Group during the first quarter worth approximately $5,301,000. Allianz Asset Management GmbH raised its stake in shares of Mr. Cooper Group by 2,060.4% during the fourth quarter. Allianz Asset Management GmbH now owns 102,423 shares of the company's stock valued at $6,670,000 after acquiring an additional 97,682 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Mr. Cooper Group by 68.2% in the first quarter. Sei Investments Co. now owns 36,139 shares of the company's stock valued at $2,817,000 after purchasing an additional 14,652 shares during the period. Institutional investors own 89.82% of the company's stock.

Insider Activity

In related news, CEO Jesse K. Bray sold 25,000 shares of Mr. Cooper Group stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $80.93, for a total value of $2,023,250.00. Following the completion of the sale, the chief executive officer now directly owns 259,631 shares in the company, valued at approximately $21,011,936.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.33% of the company's stock.

Mr. Cooper Group Stock Performance

NASDAQ:COOP traded up $0.95 during midday trading on Friday, reaching $93.81. 243,997 shares of the stock traded hands, compared to its average volume of 346,978. The stock has a market capitalization of $6.05 billion, a PE ratio of 9.82 and a beta of 1.39. Mr. Cooper Group Inc. has a 12-month low of $52.46 and a 12-month high of $95.74. The business has a 50-day moving average of $86.69 and a two-hundred day moving average of $81.06.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The company reported $2.52 earnings per share for the quarter, topping analysts' consensus estimates of $2.33 by $0.19. Mr. Cooper Group had a return on equity of 14.10% and a net margin of 33.22%. The firm had revenue of $583.00 million during the quarter, compared to analysts' expectations of $552.09 million. During the same quarter last year, the firm earned $1.66 EPS. The business's quarterly revenue was up 3.4% on a year-over-year basis. Research analysts anticipate that Mr. Cooper Group Inc. will post 9.86 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on COOP. Wedbush lifted their target price on Mr. Cooper Group from $100.00 to $115.00 and gave the company an "outperform" rating in a research report on Friday, July 26th. Barclays lifted their price objective on Mr. Cooper Group from $94.00 to $103.00 and gave the company an "overweight" rating in a report on Friday, July 26th. Keefe, Bruyette & Woods downgraded shares of Mr. Cooper Group from an "outperform" rating to a "market perform" rating and set a $95.00 target price on the stock. in a research report on Monday, July 22nd. Finally, Piper Sandler boosted their price target on shares of Mr. Cooper Group from $91.00 to $106.00 and gave the company an "overweight" rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Mr. Cooper Group has an average rating of "Moderate Buy" and an average target price of $91.88.

Mr. Cooper Group Company 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.