Taika Capital LP Purchases New Shares in Mr. Cooper Group Inc. (NASDAQ:COOP)

Taika Capital LP purchased a new stake in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 43,383 shares of the company’s stock, valued at approximately $3,999,000. Mr. Cooper Group makes up about 3.0% of Taika Capital LP’s investment portfolio, making the stock its 19th largest position. Taika Capital LP owned 0.07% of Mr. Cooper Group at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Blue Trust Inc. increased its holdings in Mr. Cooper Group by 77.1% during the second quarter. Blue Trust Inc. now owns 333 shares of the company’s stock worth $26,000 after buying an additional 145 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Mr. Cooper Group by 8,275.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company’s stock worth $27,000 after buying an additional 331 shares during the last quarter. Quarry LP purchased a new stake in Mr. Cooper Group during the second quarter worth about $29,000. Financial Management Professionals Inc. purchased a new stake in Mr. Cooper Group during the third quarter worth about $30,000. Finally, Harvest Fund Management Co. Ltd increased its holdings in Mr. Cooper Group by 152.5% during the third quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock worth $41,000 after buying an additional 270 shares during the last quarter. 89.82% of the stock is owned by institutional investors.

Insider Activity

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $97.58, for a total transaction of $2,927,400.00. Following the completion of the sale, the chief executive officer now directly owns 788,821 shares in the company, valued at $76,973,153.18. The trade was a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.33% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on COOP. Wedbush restated an “outperform” rating and set a $115.00 price objective on shares of Mr. Cooper Group in a report on Thursday, October 24th. Barclays raised their price objective on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, Compass Point lifted their target price on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.00.

Mr. Cooper Group Stock Down 0.4 %

COOP opened at $96.08 on Friday. The company has a market capitalization of $6.15 billion, a price-to-earnings ratio of 12.41 and a beta of 1.41. The firm has a 50-day moving average price of $94.77 and a 200-day moving average price of $89.36. Mr. Cooper Group Inc. has a twelve month low of $61.38 and a twelve month high of $103.05.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.30. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%. The company had revenue of $616.00 million during the quarter, compared to analyst estimates of $548.09 million. During the same period last year, the business earned $2.79 earnings per share. Mr. Cooper Group’s revenue was up 32.8% compared to the same quarter last year. On average, sell-side analysts expect that Mr. Cooper Group Inc. will post 10.16 earnings per share for the current fiscal year.

About Mr. Cooper Group

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.