Harbour Investments Inc. Invests $347,000 in Mr. Cooper Group Inc $COOP

Harbour Investments Inc. acquired a new stake in shares of Mr. Cooper Group Inc (NASDAQ:COOP) during the second quarter, Holdings Channel.com reports. The fund acquired 2,327 shares of the company’s stock, valued at approximately $347,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in COOP. Invesco Ltd. grew its position in Mr. Cooper Group by 11.8% during the first quarter. Invesco Ltd. now owns 2,013,536 shares of the company’s stock valued at $240,819,000 after purchasing an additional 213,167 shares in the last quarter. Nuveen LLC purchased a new position in Mr. Cooper Group during the first quarter valued at approximately $24,037,000. Credit Industriel ET Commercial purchased a new position in Mr. Cooper Group during the second quarter valued at approximately $14,832,000. Alpine Associates Management Inc. purchased a new position in Mr. Cooper Group during the first quarter valued at approximately $10,716,000. Finally, Envestnet Asset Management Inc. grew its position in Mr. Cooper Group by 359.1% during the first quarter. Envestnet Asset Management Inc. now owns 113,824 shares of the company’s stock valued at $13,613,000 after purchasing an additional 89,031 shares in the last quarter. 89.82% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $182.43, for a total value of $5,472,900.00. Following the completion of the sale, the chief executive officer directly owned 633,187 shares in the company, valued at approximately $115,512,304.41. The trade was a 4.52% decrease in their ownership of the stock. The sale 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

Shares of Mr. Cooper Group stock opened at $210.79 on Tuesday. The firm has a fifty day simple moving average of $205.48 and a 200-day simple moving average of $161.63. Mr. Cooper Group Inc has a 1-year low of $84.68 and a 1-year high of $234.73. The stock has a market capitalization of $13.49 billion, a price-to-earnings ratio of 24.12 and a beta of 1.08.

Mr. Cooper Group (NASDAQ:COOP) last issued its quarterly earnings data 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 firm had revenue of $608.00 million during the quarter, compared to analyst estimates of $669.23 million. During the same quarter in the previous year, the firm posted $3.10 earnings per share. Mr. Cooper Group’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, research analysts predict that Mr. Cooper Group Inc will post 13.17 earnings per share for the current year.

Mr. Cooper Group Announces Dividend

The company also recently disclosed a special dividend, which was paid on Tuesday, October 7th. Stockholders of record on Monday, September 29th were paid a $0.01 dividend. The ex-dividend date was Monday, September 29th. Mr. Cooper Group’s payout ratio is presently 22.88%.

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.