Harbour Investments Inc. Acquires New Holdings in Mr. Cooper Group Inc $COOP

Harbour Investments Inc. acquired a new stake in Mr. Cooper Group Inc (NASDAQ:COOP) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 2,327 shares of the company’s stock, valued at approximately $347,000.

Other hedge funds have also recently bought and sold shares of the company. First Horizon Advisors Inc. bought a new stake in shares of Mr. Cooper Group during the 1st quarter worth about $26,000. Allworth Financial LP raised its position in shares of Mr. Cooper Group by 24.5% during the 1st quarter. Allworth Financial LP now owns 442 shares of the company’s stock worth $51,000 after buying an additional 87 shares in the last quarter. SVB Wealth LLC bought a new stake in shares of Mr. Cooper Group during the 1st quarter worth about $62,000. CWM LLC raised its position in shares of Mr. Cooper Group by 20.7% during the 1st quarter. CWM LLC now owns 781 shares of the company’s stock worth $93,000 after buying an additional 134 shares in the last quarter. Finally, USA Financial Formulas raised its position in shares of Mr. Cooper Group by 91.1% during the 2nd quarter. USA Financial Formulas now owns 883 shares of the company’s stock worth $132,000 after buying an additional 421 shares in the last quarter. 89.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Mr. Cooper Group Price Performance

Shares of COOP opened at $210.79 on Tuesday. The firm’s 50 day moving average is $205.48 and its 200-day moving average is $161.63. The stock has a market capitalization of $13.49 billion, a P/E ratio of 24.12 and a beta of 1.08. Mr. Cooper Group Inc has a 12-month low of $84.68 and a 12-month high of $234.73.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $3.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.28 by ($0.15). The business had revenue of $608.00 million during the quarter, compared to analyst estimates of $669.23 million. Mr. Cooper Group had a return on equity of 15.66% and a net margin of 25.38%.The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $3.10 EPS. As a group, equities research analysts forecast that Mr. Cooper Group Inc will post 13.17 EPS for the current fiscal year.

Mr. Cooper Group Dividend Announcement

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

Insider Buying and Selling at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 633,187 shares of the company’s stock, valued at $115,512,304.41. This trade represents a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.73% of the stock is currently owned by company 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.