Abel Hall LLC Purchases New Shares in Mr. Cooper Group Inc $COOP

Abel Hall LLC purchased a new stake in shares of Mr. Cooper Group Inc (NASDAQ:COOP) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,895 shares of the company’s stock, valued at approximately $283,000.

A number of other large investors also recently made changes to their positions in the company. KLP Kapitalforvaltning AS lifted its position in shares of Mr. Cooper Group by 60.9% during the second quarter. KLP Kapitalforvaltning AS now owns 21,400 shares of the company’s stock valued at $3,193,000 after purchasing an additional 8,100 shares in the last quarter. USA Financial Formulas raised its position in Mr. Cooper Group by 91.1% in the second quarter. USA Financial Formulas now owns 883 shares of the company’s stock worth $132,000 after acquiring an additional 421 shares during the period. Truist Financial Corp raised its position in Mr. Cooper Group by 42.5% in the second quarter. Truist Financial Corp now owns 6,614 shares of the company’s stock worth $987,000 after acquiring an additional 1,972 shares during the period. HB Wealth Management LLC bought a new stake in Mr. Cooper Group in the second quarter worth about $314,000. Finally, Sage Rhino Capital LLC raised its position in Mr. Cooper Group by 29.8% in the second quarter. Sage Rhino Capital LLC now owns 2,838 shares of the company’s stock worth $423,000 after acquiring an additional 651 shares during the period. 89.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on COOP. Jefferies Financial Group lifted their price objective on shares of Mr. Cooper Group from $110.00 to $150.00 and gave the stock a “hold” rating in a research report on Tuesday, July 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Mr. Cooper Group in a research report on Saturday, September 27th. Piper Sandler lifted their price objective on shares of Mr. Cooper Group from $143.00 to $158.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 1st. UBS Group set a $176.00 price objective on shares of Mr. Cooper Group in a research report on Tuesday, August 5th. Finally, Barclays lifted their price objective on shares of Mr. Cooper Group from $147.00 to $156.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Mr. Cooper Group has a consensus rating of “Moderate Buy” and a consensus price target of $140.38.

Insider Buying and Selling

In related news, CEO Jesse K. Bray sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $182.43, for a total transaction of $5,472,900.00. Following the completion of the transaction, the chief executive officer owned 633,187 shares of the company’s stock, valued at approximately $115,512,304.41. The trade was a 4.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.73% of the company’s stock.

Mr. Cooper Group Price Performance

NASDAQ COOP opened at $210.79 on Thursday. The company’s 50 day moving average is $200.41 and its 200-day moving average is $155.91. Mr. Cooper Group Inc has a 12-month low of $84.68 and a 12-month high of $234.73. The firm has a market cap of $13.49 billion, a P/E ratio of 24.12 and a beta of 1.08.

Mr. Cooper Group (NASDAQ:COOP) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $3.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.28 by ($0.15). Mr. Cooper Group had a net margin of 25.38% and a return on equity of 15.66%. The business had revenue of $608.00 million during the quarter, compared to the consensus estimate of $669.23 million. During the same period last year, the firm earned $3.10 EPS. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. Equities analysts expect that Mr. Cooper Group Inc will post 13.17 EPS for the current year.

Mr. Cooper Group Announces Dividend

The company also recently disclosed a special dividend, which was paid on Tuesday, October 7th. Investors of record on Monday, September 29th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, September 29th. Mr. Cooper Group’s payout ratio is currently 22.88%.

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.