EP Wealth Advisors LLC Takes Position in Mr. Cooper Group Inc. (NASDAQ:COOP)

EP Wealth Advisors LLC bought a new stake in Mr. Cooper Group Inc. (NASDAQ:COOP) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,337 shares of the company’s stock, valued at approximately $215,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. raised its stake in shares of Mr. Cooper Group by 77.1% in the second 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 period. CWM LLC increased its stake in 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 period. Aristeia Capital L.L.C. increased its stake in Mr. Cooper Group by 4.2% in the 2nd quarter. Aristeia Capital L.L.C. now owns 4,197 shares of the company’s stock worth $341,000 after buying an additional 169 shares during the period. Truist Financial Corp increased its stake in Mr. Cooper Group by 1.6% in the 2nd quarter. Truist Financial Corp now owns 11,840 shares of the company’s stock worth $962,000 after buying an additional 187 shares during the period. Finally, Evergreen Capital Management LLC increased its stake in Mr. Cooper Group by 4.2% in the 2nd quarter. Evergreen Capital Management LLC now owns 5,236 shares of the company’s stock worth $425,000 after buying an additional 211 shares during the period. Hedge funds and other institutional investors own 89.82% of the company’s stock.

Insider Activity

In other news, CEO Jesse K. Bray sold 30,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $97.58, for a total value of $2,927,400.00. Following the sale, the chief executive officer now directly owns 788,821 shares in the company, valued at approximately $76,973,153.18. This trade represents a 3.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.33% of the company’s stock.

Analysts Set New Price Targets

COOP has been the topic of several recent analyst reports. 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 note on Tuesday, October 8th. Wedbush reaffirmed an “outperform” rating and issued a $115.00 price target on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Finally, 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 note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $100.57.

Mr. Cooper Group Stock Performance

NASDAQ COOP opened at $96.84 on Friday. The company has a market capitalization of $6.20 billion, a price-to-earnings ratio of 12.51 and a beta of 1.41. The company’s 50-day simple moving average is $95.31 and its two-hundred day simple moving average is $89.95. Mr. Cooper Group Inc. has a one year low of $61.38 and a one year high of $103.05.

Mr. Cooper Group (NASDAQ:COOP) last posted its earnings results on Wednesday, October 23rd. The company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.30. The business 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 company’s revenue for the quarter was up 32.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.79 EPS. Equities analysts expect that Mr. Cooper Group Inc. will post 10.16 earnings per share for the current fiscal year.

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.