Riverwater Partners LLC Invests $1.18 Million in Mr. Cooper Group Inc. (NASDAQ:COOP)

Riverwater Partners LLC purchased a new stake in Mr. Cooper Group Inc. (NASDAQ:COOP) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 12,296 shares of the company’s stock, valued at approximately $1,181,000.

Several other hedge funds also recently added to or reduced their stakes in COOP. State Street Corp lifted its position in shares of Mr. Cooper Group by 1.9% during the 3rd quarter. State Street Corp now owns 2,726,946 shares of the company’s stock worth $251,370,000 after buying an additional 51,667 shares during the last quarter. Wellington Management Group LLP lifted its position in Mr. Cooper Group by 43.1% in the fourth quarter. Wellington Management Group LLP now owns 1,138,904 shares of the company’s stock valued at $109,346,000 after acquiring an additional 343,243 shares during the last quarter. Norges Bank purchased a new stake in Mr. Cooper Group in the fourth quarter valued at $72,984,000. JPMorgan Chase & Co. boosted its stake in Mr. Cooper Group by 15.5% in the fourth quarter. JPMorgan Chase & Co. now owns 644,159 shares of the company’s stock valued at $61,846,000 after acquiring an additional 86,510 shares in the last quarter. Finally, Veridan Wealth LLC purchased a new position in shares of Mr. Cooper Group during the fourth quarter worth about $56,244,000. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. JMP Securities reissued a “market outperform” rating and issued a $115.00 target price on shares of Mr. Cooper Group in a research report on Thursday, February 13th. Citizens Jmp downgraded Mr. Cooper Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday. UBS Group raised their target price on shares of Mr. Cooper Group from $122.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Barclays upped their price target on shares of Mr. Cooper Group from $111.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Finally, Piper Sandler downgraded shares of Mr. Cooper Group from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $125.00 to $143.00 in a research report on Friday. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Mr. Cooper Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.78.

Mr. Cooper Group Stock Up 0.8 %

Shares of NASDAQ:COOP opened at $134.21 on Friday. Mr. Cooper Group Inc. has a fifty-two week low of $74.49 and a fifty-two week high of $137.60. The firm’s 50-day simple moving average is $108.62 and its 200-day simple moving average is $99.90. The company has a market cap of $8.54 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 0.32 and a beta of 1.17.

Mr. Cooper Group (NASDAQ:COOP) last released its earnings results on Wednesday, February 12th. The company reported $2.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.08. Mr. Cooper Group had a return on equity of 14.76% and a net margin of 30.07%. On average, research analysts forecast that Mr. Cooper Group Inc. will post 13.17 EPS for the current year.

Insider Buying and Selling

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 sale, the chief executive officer now owns 698,821 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is available at this link. 2.33% of the stock is currently owned by corporate 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.