QRG Capital Management Inc. Raises Stock Position in Mr. Cooper Group Inc. (NASDAQ:COOP)

QRG Capital Management Inc. increased its position in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) by 3.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 7,644 shares of the company’s stock after acquiring an additional 263 shares during the period. QRG Capital Management Inc.’s holdings in Mr. Cooper Group were worth $734,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of COOP. Harvest Fund Management Co. Ltd increased its holdings in shares of Mr. Cooper Group by 152.5% in the third quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock worth $41,000 after purchasing an additional 270 shares during the period. Asset Planning Inc bought a new stake in Mr. Cooper Group during the fourth quarter valued at $48,000. ORG Partners LLC purchased a new position in Mr. Cooper Group during the fourth quarter worth about $51,000. Harbor Capital Advisors Inc. bought a new position in Mr. Cooper Group in the 3rd quarter worth about $52,000. Finally, Blue Trust Inc. raised its holdings in shares of Mr. Cooper Group by 38.8% in the 4th quarter. Blue Trust Inc. now owns 794 shares of the company’s stock valued at $76,000 after acquiring an additional 222 shares in the last quarter. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

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 transaction of $3,367,200.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

COOP has been the subject of several research analyst reports. Citizens Jmp upgraded shares of Mr. Cooper Group to a “strong-buy” rating in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods lifted their price objective on shares of Mr. Cooper Group from $105.00 to $115.00 and gave the stock a “market perform” rating in a report on Thursday, February 13th. UBS Group increased their target price on Mr. Cooper Group from $122.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Piper Sandler lifted their price target on Mr. Cooper Group from $113.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $115.00 price objective on shares of Mr. Cooper Group in a report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Mr. Cooper Group currently has a consensus rating of “Moderate Buy” and an average target price of $112.22.

Mr. Cooper Group Price Performance

Shares of COOP stock opened at $108.26 on Wednesday. The business has a 50-day moving average of $102.64 and a 200 day moving average of $96.93. Mr. Cooper Group Inc. has a 1-year low of $70.51 and a 1-year high of $114.05. The stock has a market capitalization of $6.88 billion, a PE ratio of 10.63, a P/E/G ratio of 0.32 and a beta of 1.43.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings data on Wednesday, February 12th. The company reported $2.73 earnings per share for the quarter, beating 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%. Analysts anticipate that Mr. Cooper Group Inc. will post 13.17 EPS for the current year.

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.