Navellier & Associates Inc. Invests $631,000 in Mr. Cooper Group Inc. (NASDAQ:COOP)

Navellier & Associates Inc. purchased a new stake in shares of Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,850 shares of the company's stock, valued at approximately $631,000.

Several other institutional investors and hedge funds have also modified their holdings of COOP. LSV Asset Management lifted its position in shares of Mr. Cooper Group by 249.2% in the second quarter. LSV Asset Management now owns 633,260 shares of the company's stock worth $51,440,000 after buying an additional 451,926 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Mr. Cooper Group by 984.4% during 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 period. Hantz Financial Services Inc. acquired a new position in Mr. Cooper Group during the second quarter valued at approximately $21,609,000. Assenagon Asset Management S.A. raised its position in shares of Mr. Cooper Group by 11.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,247,434 shares of the company's stock valued at $114,988,000 after purchasing an additional 125,055 shares during the period. Finally, Edgestream Partners L.P. acquired a new stake in shares of Mr. Cooper Group in the second quarter worth $8,224,000. Institutional investors and hedge funds own 89.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on COOP shares. Barclays boosted their target price 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. Compass Point raised their target price on Mr. Cooper Group from $97.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Wedbush reiterated an "outperform" rating and set a $115.00 price target on shares of Mr. Cooper Group in a report on Thursday, October 24th. Finally, Piper Sandler boosted their target price on shares of Mr. Cooper Group from $91.00 to $106.00 and gave the stock an "overweight" rating in a research report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $98.00.

Mr. Cooper Group Trading Up 1.1 %

COOP stock traded up $1.09 during midday trading on Friday, hitting $99.42. The stock had a trading volume of 300,494 shares, compared to its average volume of 450,855. Mr. Cooper Group Inc. has a 52 week low of $59.03 and a 52 week high of $103.05. The stock has a 50-day simple moving average of $93.73 and a 200 day simple moving average of $88.43. The firm 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 (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. 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 during the quarter, compared to the consensus estimate of $548.09 million. During the same period last year, the firm earned $2.79 EPS. The firm's revenue for the quarter was up 32.8% compared to the same quarter last year. On average, equities analysts forecast that Mr. Cooper Group Inc. will post 10.16 EPS for the current year.

Insider Activity

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.

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.