Kennedy Capital Management LLC Cuts Stock Position in Mr. Cooper Group Inc. (NASDAQ:COOP)

Kennedy Capital Management LLC trimmed its holdings in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) by 5.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 150,207 shares of the company’s stock after selling 8,516 shares during the quarter. Kennedy Capital Management LLC’s holdings in Mr. Cooper Group were worth $14,421,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in COOP. Norges Bank purchased a new stake in shares of Mr. Cooper Group during the fourth quarter worth about $72,984,000. Veridan Wealth LLC acquired a new position in shares of Mr. Cooper Group during the 4th quarter worth approximately $56,244,000. Wellington Management Group LLP increased its position in shares of Mr. Cooper Group by 43.1% during the fourth quarter. Wellington Management Group LLP now owns 1,138,904 shares of the company’s stock worth $109,346,000 after purchasing an additional 343,243 shares in the last quarter. Wealthfront Advisers LLC purchased a new stake in shares of Mr. Cooper Group during the fourth quarter worth approximately $9,795,000. Finally, Invesco Ltd. grew its holdings in Mr. Cooper Group by 5.2% in the 4th quarter. Invesco Ltd. now owns 1,800,369 shares of the company’s stock valued at $172,853,000 after buying an additional 89,544 shares in the last quarter. 89.82% of the stock is currently owned by institutional investors.

Mr. Cooper Group Price Performance

Mr. Cooper Group stock opened at $113.61 on Thursday. The firm has a 50-day moving average of $109.82 and a 200-day moving average of $100.77. Mr. Cooper Group Inc. has a one year low of $74.49 and a one year high of $137.60. The company has a market cap of $7.23 billion, a price-to-earnings ratio of 11.16, a P/E/G ratio of 0.32 and a beta of 1.17.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings results on Wednesday, February 12th. The company reported $2.73 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.08. Mr. Cooper Group had a net margin of 30.07% and a return on equity of 14.76%. As a group, sell-side analysts expect that Mr. Cooper Group Inc. will post 13.17 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on COOP. Piper Sandler cut Mr. Cooper Group from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $125.00 to $143.00 in a report on Friday, April 4th. Keefe, Bruyette & Woods lifted their target price on Mr. Cooper Group from $115.00 to $143.00 and gave the company a “market perform” rating in a research note on Tuesday. Barclays lifted their price objective on Mr. Cooper Group from $130.00 to $147.00 and gave the stock an “overweight” rating in a report on Tuesday. UBS Group boosted their price target on Mr. Cooper Group from $122.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Finally, JMP Securities reissued a “market outperform” rating and set a $115.00 price target on shares of Mr. Cooper Group in a research report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Mr. Cooper Group has a consensus rating of “Moderate Buy” and an average target price of $119.78.

Insider Transactions at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 30,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $112.24, for a total transaction of $3,367,200.00. Following the transaction, the chief executive officer now directly owns 698,821 shares in the company, valued at approximately $78,435,669.04. The trade was a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.33% of the stock is owned by company insiders.

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.