KLP Kapitalforvaltning AS Acquires New Holdings in Mr. Cooper Group Inc. (NASDAQ:COOP)

KLP Kapitalforvaltning AS bought a new stake in Mr. Cooper Group Inc. (NASDAQ:COOP) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 16,700 shares of the company’s stock, valued at approximately $1,603,000.

Several other hedge funds also recently bought and sold shares of COOP. Veridan Wealth LLC bought a new stake in shares of Mr. Cooper Group in the 4th quarter valued at $56,244,000. FMR LLC increased its holdings in shares of Mr. Cooper Group by 42.9% in the third quarter. FMR LLC now owns 485,907 shares of the company’s stock worth $44,791,000 after acquiring an additional 145,767 shares in the last quarter. Basswood Capital Management L.L.C. raised its position in shares of Mr. Cooper Group by 36.6% during the third quarter. Basswood Capital Management L.L.C. now owns 496,243 shares of the company’s stock worth $45,744,000 after purchasing an additional 132,970 shares during the period. Wealthfront Advisers LLC bought a new position in shares of Mr. Cooper Group during the 4th quarter valued at about $9,795,000. Finally, Barclays PLC grew its position in shares of Mr. Cooper Group by 198.0% in the 3rd quarter. Barclays PLC now owns 132,017 shares of the company’s stock valued at $12,170,000 after purchasing an additional 87,712 shares during the period. 89.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on COOP shares. Citizens Jmp upgraded shares of Mr. Cooper Group to a “strong-buy” rating in a report on Tuesday, January 14th. JMP Securities restated a “market outperform” rating and set a $115.00 price objective on shares of Mr. Cooper Group in a report on Thursday, February 13th. Keefe, Bruyette & Woods upped their target price on shares of Mr. Cooper Group from $105.00 to $115.00 and gave the stock a “market perform” rating in a research note on Thursday, February 13th. Piper Sandler lifted their price target on Mr. Cooper Group from $113.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Finally, Barclays upped their price objective on Mr. Cooper Group from $111.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $112.22.

Mr. Cooper Group Stock Performance

COOP opened at $104.49 on Friday. The business’s 50-day simple moving average is $106.03 and its 200 day simple moving average is $98.57. Mr. Cooper Group Inc. has a 52-week low of $74.49 and a 52-week high of $114.05. The firm has a market capitalization of $6.65 billion, a PE ratio of 10.26, a PEG ratio of 0.32 and a beta of 1.49.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $2.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.08. Mr. Cooper Group had a return on equity of 14.76% and a net margin of 30.07%. On average, research analysts forecast that Mr. Cooper Group Inc. will post 13.17 earnings per share for the current year.

Insider Buying and Selling at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $112.24, for a total value of $3,367,200.00. Following the sale, the chief executive officer now directly owns 698,821 shares of the company’s stock, valued at approximately $78,435,669.04. This represents a 4.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.