Navellier & Associates Inc. Takes $631,000 Position in Mr. Cooper Group Inc. (NASDAQ:COOP)

Navellier & Associates Inc. bought a new position in Mr. Cooper Group Inc. (NASDAQ:COOP) in the 3rd quarter, Holdings Channel.com reports. The firm bought 6,850 shares of the company’s stock, valued at approximately $631,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in COOP. Financial Management Professionals Inc. bought a new position in shares of Mr. Cooper Group during the third quarter valued at approximately $30,000. 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 valued at $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 valued at $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 valued at approximately $29,000. Finally, Harbor Capital Advisors Inc. purchased a new stake in Mr. Cooper Group during the third quarter valued at approximately $52,000. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

Mr. Cooper Group Stock Up 1.3 %

COOP stock opened at $98.33 on Friday. The firm has a 50 day moving average of $93.63 and a 200 day moving average of $88.30. The stock has a market capitalization of $6.29 billion, a PE ratio of 12.70 and a beta of 1.40. Mr. Cooper Group Inc. has a 52 week low of $59.03 and a 52 week high of $103.05.

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on COOP. Barclays upped their target price on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Piper Sandler increased their price objective on shares of Mr. Cooper Group from $91.00 to $106.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Compass Point increased their price objective 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. Finally, 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. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $98.00.

Insiders Place Their Bets

In other news, CEO Jesse K. Bray sold 30,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $88.41, for a total transaction of $2,652,300.00. Following the transaction, the chief executive officer now owns 818,821 shares of the company’s stock, valued at approximately $72,391,964.61. The trade was a 3.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.33% of the stock is currently owned by corporate 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.