Longboard Asset Management LP Invests $235,000 in Mr. Cooper Group Inc (NASDAQ:COOP)

Longboard Asset Management LP bought a new position in shares of Mr. Cooper Group Inc (NASDAQ:COOP) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 1,963 shares of the company’s stock, valued at approximately $235,000.

A number of other institutional investors have also modified their holdings of COOP. Picton Mahoney Asset Management grew its holdings in shares of Mr. Cooper Group by 41.3% during the 4th 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. USA Financial Formulas purchased a new position in Mr. Cooper Group in the 1st quarter worth approximately $55,000. Kapitalo Investimentos Ltda purchased a new position in Mr. Cooper Group in the 4th quarter worth approximately $70,000. Covestor Ltd boosted its holdings in Mr. Cooper Group by 418.9% in the 4th quarter. Covestor Ltd now owns 742 shares of the company’s stock worth $71,000 after acquiring an additional 599 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Mr. Cooper Group by 38.8% in the 4th quarter. Blue Trust Inc. now owns 794 shares of the company’s stock worth $76,000 after acquiring an additional 222 shares during the period. Hedge funds and other institutional investors own 89.82% of the company’s stock.

Analysts Set New Price Targets

COOP has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upped their price target on Mr. Cooper Group from $115.00 to $143.00 and gave the stock a “market perform” rating in a report on Tuesday, April 8th. Piper Sandler lowered Mr. Cooper Group from an “overweight” rating to a “neutral” rating and upped their target price for the company from $125.00 to $143.00 in a research report on Friday, April 4th. Barclays upped their target price on Mr. Cooper Group from $130.00 to $147.00 and gave the company an “overweight” 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, UBS Group upped their target price 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. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $131.14.

Mr. Cooper Group Stock Up 3.1%

Shares of COOP stock opened at $149.12 on Monday. The stock has a 50-day simple moving average of $126.45 and a 200 day simple moving average of $112.19. Mr. Cooper Group Inc has a fifty-two week low of $78.20 and a fifty-two week high of $151.48. The stock has a market capitalization of $9.54 billion, a P/E ratio of 16.95, a P/E/G ratio of 0.43 and a beta of 1.04.

Mr. Cooper Group (NASDAQ:COOP) last announced its earnings results on Wednesday, April 23rd. The company reported $2.97 EPS for the quarter, beating the consensus estimate of $2.81 by $0.16. Mr. Cooper Group had a return on equity of 15.27% and a net margin of 25.93%. The business had revenue of $560.00 million during the quarter, compared to the consensus estimate of $620.57 million. During the same period in the prior year, the business posted $2.73 earnings per share. Mr. Cooper Group’s revenue was down .7% compared to the same quarter last year. On average, sell-side analysts anticipate that Mr. Cooper Group Inc will post 13.17 earnings per share for the current year.

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.