Cynosure Group LLC Acquires New Holdings in Mr. Cooper Group Inc. (NASDAQ:COOP)

Cynosure Group LLC bought a new position in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 7,924 shares of the company’s stock, valued at approximately $730,000.

Several other institutional investors also recently modified their holdings of COOP. Blue Trust Inc. grew its position in Mr. Cooper Group by 77.1% during the 2nd quarter. Blue Trust Inc. now owns 333 shares of the company’s stock worth $26,000 after acquiring an additional 145 shares during the last quarter. CWM LLC raised its holdings in Mr. Cooper Group by 34.5% in the 2nd quarter. CWM LLC now owns 601 shares of the company’s stock valued at $49,000 after buying an additional 154 shares during the last quarter. Aristeia Capital L.L.C. grew its holdings in Mr. Cooper Group by 4.2% during the 2nd quarter. Aristeia Capital L.L.C. now owns 4,197 shares of the company’s stock worth $341,000 after acquiring an additional 169 shares during the last quarter. Truist Financial Corp raised its stake in shares of Mr. Cooper Group by 1.6% during the second quarter. Truist Financial Corp now owns 11,840 shares of the company’s stock valued at $962,000 after acquiring an additional 187 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in shares of Mr. Cooper Group by 2.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 10,521 shares of the company’s stock worth $820,000 after purchasing an additional 203 shares during the period. 89.82% of the stock is currently owned by institutional investors and hedge funds.

Mr. Cooper Group Stock Performance

Shares of NASDAQ:COOP opened at $98.29 on Wednesday. Mr. Cooper Group Inc. has a fifty-two week low of $59.03 and a fifty-two week high of $103.05. The company’s 50-day moving average is $93.85 and its 200 day moving average is $88.63. The company has a market capitalization of $6.29 billion, a P/E ratio of 12.70 and a beta of 1.40.

Mr. Cooper Group (NASDAQ:COOP) last released its earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share 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 firm had revenue of $616.00 million for the quarter, compared to analysts’ expectations of $548.09 million. During the same period in the previous year, the company earned $2.79 earnings per share. The company’s quarterly revenue was up 32.8% on a year-over-year basis. As a group, research analysts predict that Mr. Cooper Group Inc. will post 10.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

COOP has been the topic of a number of research analyst reports. Compass Point upped their price target on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Barclays lifted their price target on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Finally, 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. Two 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.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $98.00.

Insiders Place Their Bets

In related 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 value of $2,652,300.00. Following the completion of the sale, the chief executive officer now owns 818,821 shares of the company’s stock, valued at approximately $72,391,964.61. This trade represents a 3.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.33% of the company’s stock.

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.