Paloma Partners Management Co Purchases New Position in Mr. Cooper Group Inc. (NASDAQ:COOP)

Paloma Partners Management Co bought a new position in Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 9,520 shares of the company's stock, valued at approximately $878,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its stake in shares of Mr. Cooper Group by 11.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,247,434 shares of the company's stock worth $114,988,000 after acquiring an additional 125,055 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake 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 worth $84,471,000 after buying an additional 52,001 shares during the period. LSV Asset Management lifted its position in shares of Mr. Cooper Group by 249.2% during the 2nd quarter. LSV Asset Management now owns 633,260 shares of the company's stock valued at $51,440,000 after buying an additional 451,926 shares in the last quarter. FMR LLC grew its stake in shares of 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 acquiring an additional 145,767 shares during the period. Finally, Hantz Financial Services Inc. purchased a new stake in Mr. Cooper Group in the 2nd quarter worth approximately $21,609,000. Hedge funds and other institutional investors own 89.82% of the company's stock.

Mr. Cooper Group Trading Down 0.7 %

Shares of COOP stock traded down $0.70 on Tuesday, reaching $96.74. The company's stock had a trading volume of 342,336 shares, compared to its average volume of 449,759. The stock's fifty day simple moving average is $94.40 and its 200-day simple moving average is $89.18. Mr. Cooper Group Inc. has a 1 year low of $61.38 and a 1 year high of $103.05. The company has a market capitalization of $6.19 billion, a price-to-earnings ratio of 12.50 and a beta of 1.41.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share for the quarter, topping analysts' consensus estimates of $2.54 by $0.30. The firm had revenue of $616.00 million for 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 business's quarterly revenue was up 32.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.79 EPS. Equities research analysts forecast that Mr. Cooper Group Inc. will post 10.16 earnings per share for the current year.

Insider Activity at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 30,000 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $97.58, for a total transaction of $2,927,400.00. Following the completion of the sale, the chief executive officer now directly owns 788,821 shares of the company's stock, valued at approximately $76,973,153.18. This trade represents a 3.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

COOP has been the subject of a number of analyst reports. Compass Point increased their price objective on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Barclays raised their price target on Mr. Cooper Group from $103.00 to $108.00 and gave the company an "overweight" rating in a report on Tuesday, October 8th. Finally, Wedbush reiterated an "outperform" rating and set a $115.00 target price on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $98.00.

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.