Navellier & Associates Inc. Buys Shares of 6,850 Mr. Cooper Group Inc. (NASDAQ:COOP)

Navellier & Associates Inc. purchased a new stake in Mr. Cooper Group Inc. (NASDAQ:COOP) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,850 shares of the company’s stock, valued at approximately $631,000.

A number of other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in Mr. Cooper Group by 984.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 390,957 shares of the company’s stock worth $30,476,000 after acquiring an additional 354,905 shares in the last quarter. 1832 Asset Management L.P. bought a new stake in shares of Mr. Cooper Group in the 1st quarter valued at approximately $5,301,000. Sei Investments Co. grew its stake in Mr. Cooper Group by 68.2% during the 1st quarter. Sei Investments Co. now owns 36,139 shares of the company’s stock worth $2,817,000 after buying an additional 14,652 shares during the last quarter. Los Angeles Capital Management LLC grew its stake in Mr. Cooper Group by 50.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 32,592 shares of the company’s stock worth $3,004,000 after buying an additional 10,964 shares during the last quarter. Finally, Waterfall Asset Management LLC bought a new position in Mr. Cooper Group during the 2nd quarter worth $809,000. Hedge funds and other institutional investors own 89.82% of the company’s stock.

Mr. Cooper Group Stock Performance

Shares of COOP stock opened at $98.33 on Friday. The stock’s fifty day moving average price is $93.63 and its two-hundred day moving average price is $88.30. The company has a market cap of $6.29 billion, a PE ratio of 12.70 and a beta of 1.40. Mr. Cooper Group Inc. has a fifty-two week low of $59.03 and a fifty-two week high of $103.05.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings results 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 return on equity of 13.77% and a net margin of 25.87%. The company had revenue of $616.00 million during the quarter, compared to analysts’ expectations of $548.09 million. During the same period in the prior year, the company earned $2.79 EPS. Mr. Cooper Group’s revenue was up 32.8% compared to the same quarter last year. On average, equities analysts predict that Mr. Cooper Group Inc. will post 10.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on COOP shares. Compass Point boosted their price target on Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Barclays increased their price objective on Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Wedbush reissued an “outperform” rating and issued a $115.00 price objective on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Finally, Piper Sandler raised their price objective on Mr. Cooper Group from $91.00 to $106.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $98.00.

Insider Activity

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $88.41, for a total transaction of $2,652,300.00. Following the completion of the transaction, the chief executive officer now owns 818,821 shares in the company, valued at approximately $72,391,964.61. The trade was a 3.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.33% of the stock is currently owned by company insiders.

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.