Mr. Cooper Group Inc. (NASDAQ:COOP) Stake Boosted by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB raised its position in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) by 9,175.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,916 shares of the company’s stock after buying an additional 4,863 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Mr. Cooper Group were worth $472,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP acquired a new position in Mr. Cooper Group during the second quarter valued at $29,000. Financial Management Professionals Inc. purchased a new position in Mr. Cooper Group during the 3rd quarter valued at about $30,000. Harvest Fund Management Co. Ltd increased its holdings in shares of Mr. Cooper Group by 152.5% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock valued at $41,000 after purchasing an additional 270 shares during the period. ORG Partners LLC purchased a new stake in shares of Mr. Cooper Group in the fourth quarter worth approximately $51,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of Mr. Cooper Group during the third quarter worth approximately $52,000. 89.82% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Jesse K. Bray sold 30,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $94.49, for a total value of $2,834,700.00. Following the sale, the chief executive officer now directly owns 758,821 shares of the company’s stock, valued at approximately $71,700,996.29. This trade represents a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 90,000 shares of company stock valued at $8,414,400 over the last 90 days. 2.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on COOP shares. Barclays upped their price objective on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. JMP Securities started coverage on shares of Mr. Cooper Group in a research note on Tuesday, January 14th. They issued an “outperform” rating and a $115.00 price target on the stock. Compass Point lifted their price objective on Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Wedbush reaffirmed an “outperform” rating and issued a $115.00 target price on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Finally, Citizens Jmp upgraded Mr. Cooper Group to a “strong-buy” rating in a report on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.38.

Mr. Cooper Group Stock Performance

COOP opened at $102.81 on Wednesday. The company has a market cap of $6.58 billion, a PE ratio of 13.28, a price-to-earnings-growth ratio of 0.30 and a beta of 1.43. The stock has a 50-day moving average of $96.67 and a 200-day moving average of $92.75. Mr. Cooper Group Inc. has a 52-week low of $64.24 and a 52-week high of $105.00.

Mr. Cooper Group (NASDAQ:COOP) last announced its earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $616.00 million during the quarter, compared to analysts’ expectations of $548.09 million. During the same quarter in the prior year, the business earned $2.79 earnings per share. The company’s revenue was up 32.8% on a year-over-year basis. On average, research analysts predict that Mr. Cooper Group Inc. will post 10.18 earnings per share for the current 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.