Sage Rhino Capital LLC Takes Position in Mr. Cooper Group Inc. (NASDAQ:COOP)

Sage Rhino Capital LLC bought a new position in Mr. Cooper Group Inc. (NASDAQ:COOP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,089 shares of the company’s stock, valued at approximately $201,000.

A number of other hedge funds have also modified their holdings of COOP. Veridan Wealth LLC acquired a new position in Mr. Cooper Group in the 4th quarter worth approximately $56,244,000. FMR LLC lifted its holdings in shares of Mr. Cooper Group by 42.9% in the third quarter. FMR LLC now owns 485,907 shares of the company’s stock valued at $44,791,000 after purchasing an additional 145,767 shares in the last quarter. Basswood Capital Management L.L.C. boosted its position in shares of Mr. Cooper Group by 36.6% in the third quarter. Basswood Capital Management L.L.C. now owns 496,243 shares of the company’s stock worth $45,744,000 after buying an additional 132,970 shares during the period. Barclays PLC grew its holdings in shares of Mr. Cooper Group by 198.0% during the third quarter. Barclays PLC now owns 132,017 shares of the company’s stock valued at $12,170,000 after buying an additional 87,712 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Mr. Cooper Group by 6.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 916,365 shares of the company’s stock valued at $84,471,000 after buying an additional 52,001 shares in the last quarter. 89.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Citizens Jmp upgraded Mr. Cooper Group to a “strong-buy” rating in a research report on Tuesday, January 14th. UBS Group raised their price target on shares of Mr. Cooper Group from $122.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Piper Sandler upped their price objective on shares of Mr. Cooper Group from $113.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods lifted their target price on shares of Mr. Cooper Group from $105.00 to $115.00 and gave the company a “market perform” rating in a research note on Thursday, February 13th. Finally, Barclays upped their price target on shares of Mr. Cooper Group from $111.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $112.22.

Insiders Place Their Bets

In other news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $94.49, for a total value of $2,834,700.00. Following the completion of the transaction, the chief executive officer now owns 758,821 shares in the company, valued at approximately $71,700,996.29. This represents a 3.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.33% of the company’s stock.

Mr. Cooper Group Price Performance

Mr. Cooper Group stock opened at $110.98 on Tuesday. Mr. Cooper Group Inc. has a one year low of $70.01 and a one year high of $114.05. The company’s fifty day moving average price is $102.64 and its two-hundred day moving average price is $96.93. The company has a market capitalization of $7.06 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 0.32 and a beta of 1.43.

Mr. Cooper Group (NASDAQ:COOP) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.65 by $0.08. Mr. Cooper Group had a net margin of 30.07% and a return on equity of 14.76%. As a group, 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.