First Trust Direct Indexing L.P. Boosts Holdings in Mr. Cooper Group Inc. (NASDAQ:COOP)

First Trust Direct Indexing L.P. increased its holdings in Mr. Cooper Group Inc. (NASDAQ:COOP) by 7.6% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,021 shares of the company’s stock after purchasing an additional 213 shares during the period. First Trust Direct Indexing L.P.’s holdings in Mr. Cooper Group were worth $278,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. increased its holdings in shares of Mr. Cooper Group by 77.1% in the second quarter. Blue Trust Inc. now owns 333 shares of the company’s stock worth $26,000 after buying an additional 145 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of 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 purchasing an additional 331 shares during the period. Quarry LP bought a new position in shares of Mr. Cooper Group in the second quarter worth approximately $29,000. Financial Management Professionals Inc. bought a new stake in Mr. Cooper Group during the 3rd quarter valued at $30,000. Finally, CWM LLC boosted its position in Mr. Cooper Group by 34.5% during 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 period. Institutional investors own 89.82% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on COOP. Wedbush reaffirmed an “outperform” rating and set a $115.00 price objective on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Barclays boosted their target price 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. Keefe, Bruyette & Woods lowered Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 price target for the company. in a research note on Monday, July 22nd. Compass Point boosted their price objective 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. Finally, Piper Sandler raised their target price on shares of Mr. Cooper Group from $91.00 to $106.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Mr. Cooper Group has a consensus rating of “Moderate Buy” and an average price target of $98.00.

Mr. Cooper Group Stock Performance

Shares of NASDAQ COOP opened at $90.60 on Tuesday. The company has a 50 day simple moving average of $91.86 and a two-hundred day simple moving average of $86.58. Mr. Cooper Group Inc. has a fifty-two week low of $54.07 and a fifty-two week high of $97.35. The company has a market capitalization of $5.80 billion, a price-to-earnings ratio of 11.71 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 EPS for the quarter, topping the consensus estimate of $2.54 by $0.30. The business had revenue of $616.00 million for the quarter, compared to the consensus estimate of $548.09 million. Mr. Cooper Group had a return on equity of 13.77% and a net margin of 25.87%. The company’s revenue for the quarter was up 32.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.79 earnings per share. On average, analysts forecast that Mr. Cooper Group Inc. will post 10.17 earnings per share for the current fiscal year.

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.