Basswood Capital Management L.L.C. Has $45.74 Million Stake in Mr. Cooper Group Inc. (NASDAQ:COOP)

Basswood Capital Management L.L.C. lifted its stake in Mr. Cooper Group Inc. (NASDAQ:COOP) by 36.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 496,243 shares of the company’s stock after buying an additional 132,970 shares during the period. Mr. Cooper Group makes up approximately 2.4% of Basswood Capital Management L.L.C.’s investment portfolio, making the stock its 11th biggest position. Basswood Capital Management L.L.C. owned about 0.78% of Mr. Cooper Group worth $45,744,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in COOP. Paloma Partners Management Co acquired a new stake in Mr. Cooper Group during the third quarter worth about $878,000. Maverick Capital Ltd. boosted its position in shares of Mr. Cooper Group by 3.6% during the 3rd quarter. Maverick Capital Ltd. now owns 13,543 shares of the company’s stock worth $1,248,000 after acquiring an additional 476 shares in the last quarter. Encompass More Asset Management acquired a new stake in shares of Mr. Cooper Group during the 3rd quarter worth approximately $273,000. Verition Fund Management LLC bought a new position in Mr. Cooper Group in the third quarter valued at approximately $201,000. Finally, De Lisle Partners LLP acquired a new position in Mr. Cooper Group during the third quarter valued at approximately $1,106,000. Institutional investors and hedge funds own 89.82% of the company’s stock.

Wall Street Analyst Weigh In

COOP has been the topic of a number of research analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $115.00 target price on shares of Mr. Cooper Group in a report on Thursday, October 24th. Barclays raised their price objective on Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Finally, Compass Point boosted their target price on 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 research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $98.00.

Mr. Cooper Group Stock Up 0.3 %

Shares of COOP opened at $98.67 on Monday. The stock has a market cap of $6.31 billion, a PE ratio of 12.75 and a beta of 1.41. Mr. Cooper Group Inc. has a 12-month low of $60.01 and a 12-month high of $103.05. The business has a 50-day simple moving average of $94.29 and a two-hundred day simple moving average of $89.04.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $548.09 million. During the same quarter in the prior year, the firm posted $2.79 earnings per share. The firm’s revenue was up 32.8% compared to the same quarter last year. On average, equities research analysts expect that Mr. Cooper Group Inc. will post 10.16 EPS for the current year.

Insider Buying and Selling at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 30,000 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $88.41, for a total value of $2,652,300.00. Following the sale, the chief executive officer now owns 818,821 shares of the company’s stock, valued at $72,391,964.61. The trade was a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.33% of the company’s stock.

Mr. Cooper Group 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.