Copia Wealth Management Takes $292,000 Position in Mr. Cooper Group Inc. (NASDAQ:COOP)

Copia Wealth Management bought a new stake in Mr. Cooper Group Inc. (NASDAQ:COOP) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,045 shares of the company’s stock, valued at approximately $292,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Picton Mahoney Asset Management increased its position in Mr. Cooper Group by 41.3% in the fourth quarter. Picton Mahoney Asset Management now owns 325 shares of the company’s stock worth $31,000 after purchasing an additional 95 shares during the period. Asset Planning Inc bought a new position in Mr. Cooper Group during the fourth quarter worth about $48,000. Kapitalo Investimentos Ltda bought a new position in Mr. Cooper Group during the fourth quarter worth about $70,000. Covestor Ltd boosted its holdings in Mr. Cooper Group by 418.9% during the fourth quarter. Covestor Ltd now owns 742 shares of the company’s stock worth $71,000 after buying an additional 599 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in Mr. Cooper Group by 38.8% during the fourth quarter. Blue Trust Inc. now owns 794 shares of the company’s stock worth $76,000 after buying an additional 222 shares during the last quarter. 89.82% of the stock is currently owned by institutional investors and hedge funds.

Mr. Cooper Group Stock Performance

NASDAQ COOP opened at $133.19 on Wednesday. The stock has a market capitalization of $8.52 billion, a price-to-earnings ratio of 13.08, a PEG ratio of 0.32 and a beta of 1.06. The stock’s 50 day moving average price is $118.90 and its two-hundred day moving average price is $107.21. Mr. Cooper Group Inc. has a 52 week low of $78.20 and a 52 week high of $138.35.

Mr. Cooper Group (NASDAQ:COOP) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $2.97 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.16. The firm had revenue of $560.00 million for the quarter, compared to analyst estimates of $620.57 million. Mr. Cooper Group had a return on equity of 14.76% and a net margin of 30.07%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.73 EPS. On average, equities research analysts forecast that Mr. Cooper Group Inc. will post 13.17 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on COOP. JMP Securities restated a “market outperform” rating and set a $115.00 target price on shares of Mr. Cooper Group in a report on Thursday, February 13th. UBS Group boosted their price objective on Mr. Cooper Group from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods boosted their price objective on Mr. Cooper Group from $115.00 to $143.00 and gave the company a “market perform” rating in a research report on Tuesday, April 8th. Citizens Jmp lowered Mr. Cooper Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 1st. Finally, Piper Sandler lowered Mr. Cooper Group from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $125.00 to $143.00 in a research report on Friday, April 4th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Mr. Cooper Group has an average rating of “Moderate Buy” and an average price target of $131.14.

Insiders Place Their Bets

In related news, CEO Jesse K. Bray sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was 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 of the company’s stock, valued at approximately $78,435,669.04. The trade was a 4.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 1.73% of the company’s stock.

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.