Riverwater Partners LLC Buys New Shares in Mr. Cooper Group Inc. (NASDAQ:COOP)

Riverwater Partners LLC acquired a new position in Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 12,296 shares of the company's stock, valued at approximately $1,181,000.

Several other institutional investors have also recently modified their holdings of COOP. FMR LLC lifted its stake in Mr. Cooper Group by 42.9% in the third quarter. FMR LLC now owns 485,907 shares of the company's stock worth $44,791,000 after purchasing an additional 145,767 shares during the last quarter. Verition Fund Management LLC bought a new stake in shares of Mr. Cooper Group in the 3rd quarter valued at about $201,000. HighTower Advisors LLC bought a new stake in shares of Mr. Cooper Group in the 3rd quarter valued at about $2,353,000. State Street Corp boosted its holdings in Mr. Cooper Group by 1.9% during the 3rd quarter. State Street Corp now owns 2,726,946 shares of the company's stock valued at $251,370,000 after acquiring an additional 51,667 shares during the period. Finally, Taika Capital LP bought a new position in Mr. Cooper Group during the 3rd quarter worth approximately $3,999,000. 89.82% of the stock is currently owned by institutional investors.

Insider Transactions at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $112.24, for a total value of $3,367,200.00. Following the transaction, the chief executive officer now owns 698,821 shares in the company, valued at approximately $78,435,669.04. This represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.33% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on COOP. Barclays increased their price objective on Mr. Cooper Group from $130.00 to $147.00 and gave the company an "overweight" rating in a research note on Tuesday. Keefe, Bruyette & Woods upped their price objective on shares of Mr. Cooper Group from $115.00 to $143.00 and gave the company a "market perform" rating in a research note on Tuesday. UBS Group increased their target price on shares of Mr. Cooper Group from $122.00 to $135.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. JMP Securities restated a "market outperform" rating and set a $115.00 price target on shares of Mr. Cooper Group in a report on Thursday, February 13th. Finally, Citizens Jmp cut Mr. Cooper Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 1st. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $119.78.

Mr. Cooper Group Trading Down 4.6 %

COOP traded down $5.24 during trading on Thursday, reaching $108.37. The stock had a trading volume of 701,061 shares, compared to its average volume of 551,218. The company has a market capitalization of $6.89 billion, a price-to-earnings ratio of 10.59, a P/E/G ratio of 0.32 and a beta of 1.17. The stock's 50 day moving average is $109.82 and its two-hundred day moving average is $100.77. Mr. Cooper Group Inc. has a one year low of $74.49 and a one year high of $137.60.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $2.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.65 by $0.08. Mr. Cooper Group had a net margin of 30.07% and a return on equity of 14.76%. On average, equities research analysts predict that Mr. Cooper Group Inc. will post 13.17 earnings per share for the current year.

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.