VELA Investment Management LLC Acquires 403 Shares of Mr. Cooper Group Inc. (NASDAQ:COOP)

VELA Investment Management LLC raised its holdings in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) by 7.0% in the fourth quarter, HoldingsChannel reports. The firm owned 6,146 shares of the company’s stock after buying an additional 403 shares during the quarter. VELA Investment Management LLC’s holdings in Mr. Cooper Group were worth $400,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of COOP. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Mr. Cooper Group in the 1st quarter worth approximately $642,000. Cetera Advisor Networks LLC grew its stake in shares of Mr. Cooper Group by 10.9% in the 1st quarter. Cetera Advisor Networks LLC now owns 5,435 shares of the company’s stock worth $248,000 after buying an additional 533 shares during the last quarter. Citigroup Inc. grew its stake in shares of Mr. Cooper Group by 37.5% in the 1st quarter. Citigroup Inc. now owns 93,768 shares of the company’s stock worth $4,283,000 after buying an additional 25,580 shares during the last quarter. Natixis Advisors L.P. boosted its stake in Mr. Cooper Group by 26.7% during the 1st quarter. Natixis Advisors L.P. now owns 15,355 shares of the company’s stock valued at $701,000 after purchasing an additional 3,239 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in Mr. Cooper Group by 4.3% during the 1st quarter. Bank of Montreal Can now owns 20,963 shares of the company’s stock valued at $978,000 after purchasing an additional 869 shares during the last quarter. Institutional investors own 89.82% of the company’s stock.

Mr. Cooper Group Stock Down 1.0 %

COOP traded down $0.77 on Tuesday, hitting $74.72. The company had a trading volume of 17,006 shares, compared to its average volume of 478,864. The company has a market cap of $4.88 billion, a PE ratio of 10.28 and a beta of 1.38. Mr. Cooper Group Inc. has a 12-month low of $41.74 and a 12-month high of $78.54. The business’s fifty day simple moving average is $73.90 and its 200 day simple moving average is $65.32.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings results on Friday, February 9th. The company reported $1.71 EPS for the quarter, topping the consensus estimate of $1.37 by $0.34. The company had revenue of $404.00 million during the quarter, compared to analyst estimates of $398.31 million. Mr. Cooper Group had a return on equity of 12.01% and a net margin of 27.87%. On average, analysts anticipate that Mr. Cooper Group Inc. will post 9.01 earnings per share for the current fiscal year.

Insider Activity

In other Mr. Cooper Group news, President Michael S. Weinbach acquired 17,000 shares of Mr. Cooper Group stock in a transaction that occurred on Tuesday, February 13th. The stock was bought at an average price of $71.16 per share, with a total value of $1,209,720.00. Following the completion of the purchase, the president now directly owns 17,000 shares of the company’s stock, valued at approximately $1,209,720. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Mr. Cooper Group news, President Michael S. Weinbach acquired 17,000 shares of Mr. Cooper Group stock in a transaction that occurred on Tuesday, February 13th. The stock was bought at an average price of $71.16 per share, with a total value of $1,209,720.00. Following the completion of the purchase, the president now directly owns 17,000 shares of the company’s stock, valued at approximately $1,209,720. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jesse K. Bray sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $71.61, for a total transaction of $1,790,250.00. Following the completion of the transaction, the chief executive officer now directly owns 366,051 shares of the company’s stock, valued at approximately $26,212,912.11. The disclosure for this sale can be found here. Over the last quarter, insiders sold 75,000 shares of company stock valued at $5,431,500. Corporate insiders own 3.11% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on COOP. Keefe, Bruyette & Woods increased their target price on Mr. Cooper Group from $83.00 to $86.00 and gave the company an “outperform” rating in a research note on Tuesday, April 9th. Barclays increased their target price on Mr. Cooper Group from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Wedbush increased their target price on Mr. Cooper Group from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, February 12th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Mr. Cooper Group in a research note on Wednesday, January 10th. They set a “buy” rating and a $88.00 target price on the stock. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $78.50.

Mr. Cooper Group Company Profile

Mr. Cooper Group Inc engages in non-banking services for mortgage loans the United States. The company operates through Servicing and Originations segments. The Servicing segment performs activities for underlying mortgages, including collecting and disbursing borrower payments, investor reporting, customer service, and modifying loans.