Credit Industriel ET Commercial Invests $14.83 Million in Mr. Cooper Group Inc $COOP

Credit Industriel ET Commercial bought a new position in shares of Mr. Cooper Group Inc (NASDAQ:COOP) in the second quarter, Holdings Channel reports. The firm bought 99,401 shares of the company’s stock, valued at approximately $14,832,000. Mr. Cooper Group accounts for 1.3% of Credit Industriel ET Commercial’s investment portfolio, making the stock its 8th largest position.

A number of other institutional investors have also modified their holdings of COOP. Farther Finance Advisors LLC grew its holdings in shares of Mr. Cooper Group by 20.0% during the 1st quarter. Farther Finance Advisors LLC now owns 1,134 shares of the company’s stock worth $142,000 after purchasing an additional 189 shares during the period. GAMMA Investing LLC grew its holdings in shares of Mr. Cooper Group by 19.1% during the 1st quarter. GAMMA Investing LLC now owns 2,603 shares of the company’s stock worth $311,000 after purchasing an additional 418 shares during the period. SG Americas Securities LLC grew its holdings in shares of Mr. Cooper Group by 711.6% during the 1st quarter. SG Americas Securities LLC now owns 10,551 shares of the company’s stock worth $1,262,000 after purchasing an additional 9,251 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Mr. Cooper Group during the 1st quarter worth about $320,000. Finally, Longboard Asset Management LP purchased a new stake in shares of Mr. Cooper Group during the 1st quarter worth about $235,000. Hedge funds and other institutional investors own 89.82% of the company’s stock.

Insider Buying and Selling at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $182.43, for a total transaction of $5,472,900.00. Following the completion of the sale, the chief executive officer owned 633,187 shares of the company’s stock, valued at approximately $115,512,304.41. This trade represents a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.73% of the company’s stock.

Mr. Cooper Group Stock Performance

COOP stock opened at $210.79 on Tuesday. Mr. Cooper Group Inc has a twelve month low of $84.68 and a twelve month high of $234.73. The company has a market capitalization of $13.49 billion, a P/E ratio of 24.12 and a beta of 1.08. The firm has a 50 day simple moving average of $202.88 and a 200-day simple moving average of $158.77.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $3.13 earnings per share for the quarter, missing analysts’ consensus estimates of $3.28 by ($0.15). Mr. Cooper Group had a return on equity of 15.66% and a net margin of 25.38%.The company had revenue of $608.00 million for the quarter, compared to analyst estimates of $669.23 million. During the same period in the previous year, the business posted $3.10 EPS. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, research analysts predict that Mr. Cooper Group Inc will post 13.17 EPS for the current year.

Mr. Cooper Group Announces Dividend

The business also recently declared a special dividend, which was paid on Tuesday, October 7th. Stockholders of record on Monday, September 29th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, September 29th. Mr. Cooper Group’s dividend payout ratio (DPR) is presently 22.88%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Barclays boosted their price target on Mr. Cooper Group from $147.00 to $156.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Piper Sandler boosted their price target on Mr. Cooper Group from $143.00 to $158.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 1st. Jefferies Financial Group boosted their price target on Mr. Cooper Group from $110.00 to $150.00 and gave the stock a “hold” rating in a research report on Tuesday, July 22nd. UBS Group set a $176.00 price target on Mr. Cooper Group in a research report on Tuesday, August 5th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Mr. Cooper Group in a research report on Saturday, September 27th. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $140.38.

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.