Range Financial Group LLC Takes $1.09 Million Position in Mr. Cooper Group Inc. (NASDAQ:COOP)

Range Financial Group LLC bought a new position in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,361 shares of the company’s stock, valued at approximately $1,091,000.

Several other hedge funds have also recently bought and sold shares of COOP. LSV Asset Management lifted its position in Mr. Cooper Group by 249.2% in the 2nd quarter. LSV Asset Management now owns 633,260 shares of the company’s stock valued at $51,440,000 after acquiring an additional 451,926 shares in the last quarter. FMR LLC grew its holdings in shares of Mr. Cooper Group by 42.9% during the third quarter. FMR LLC now owns 485,907 shares of the company’s stock worth $44,791,000 after buying an additional 145,767 shares in the last quarter. Basswood Capital Management L.L.C. raised its position in Mr. Cooper Group by 36.6% in the 3rd quarter. Basswood Capital Management L.L.C. now owns 496,243 shares of the company’s stock valued at $45,744,000 after buying an additional 132,970 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Mr. Cooper Group by 11.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,247,434 shares of the company’s stock valued at $114,988,000 after acquiring an additional 125,055 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new position in Mr. Cooper Group during the 2nd quarter worth approximately $8,224,000. 89.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Compass Point increased their target price on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Barclays increased their price objective on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Finally, Wedbush restated an “outperform” rating and set a $115.00 target price on shares of Mr. Cooper Group in a report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $100.57.

Mr. Cooper Group Stock Performance

Shares of NASDAQ COOP traded down $1.62 during midday trading on Tuesday, reaching $92.81. The stock had a trading volume of 444,712 shares, compared to its average volume of 494,612. The firm has a market cap of $5.94 billion, a price-to-earnings ratio of 11.99 and a beta of 1.43. The company’s 50 day moving average price is $96.03 and its 200 day moving average price is $91.48. Mr. Cooper Group Inc. has a twelve month low of $61.38 and a twelve month high of $103.05.

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

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 completion of the sale, the chief executive officer now directly 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders have sold 90,000 shares of company stock worth $8,414,400. Corporate insiders own 2.33% of the company’s stock.

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.