Kennondale Capital Management LLC Takes Position in Mr. Cooper Group Inc. (NASDAQ:COOP)

Kennondale Capital Management LLC bought a new stake in Mr. Cooper Group Inc. (NASDAQ:COOP) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 18,729 shares of the company’s stock, valued at approximately $1,798,000. Mr. Cooper Group comprises 1.5% of Kennondale Capital Management LLC’s investment portfolio, making the stock its 15th biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Prudent Man Advisors LLC acquired a new stake in Mr. Cooper Group during the third quarter worth approximately $241,000. Whalen Wealth Management Inc. acquired a new stake in Mr. Cooper Group during the third quarter worth approximately $478,000. Moran Wealth Management LLC acquired a new stake in Mr. Cooper Group during the third quarter worth approximately $201,000. Intech Investment Management LLC grew its position in Mr. Cooper Group by 200.2% during the third quarter. Intech Investment Management LLC now owns 64,376 shares of the company’s stock worth $5,934,000 after buying an additional 42,931 shares in the last quarter. Finally, Navellier & Associates Inc. acquired a new stake in Mr. Cooper Group during the third quarter worth approximately $631,000. Institutional investors and hedge funds own 89.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on COOP. UBS Group increased their price target on Mr. Cooper Group from $122.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Citizens Jmp raised Mr. Cooper Group to a “strong-buy” rating in a research report on Tuesday, January 14th. Barclays upped their target price on Mr. Cooper Group from $111.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Piper Sandler upped their target price 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 restated a “market outperform” rating and set a $115.00 target price on shares of Mr. Cooper Group in a research note on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $112.22.

Insider Activity

In other news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 758,821 shares in the company, valued at approximately $71,700,996.29. This represents a 3.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.33% of the stock is owned by corporate insiders.

Mr. Cooper Group Stock Performance

Shares of COOP opened at $101.43 on Tuesday. Mr. Cooper Group Inc. has a 52 week low of $72.00 and a 52 week high of $114.05. The stock has a market capitalization of $6.45 billion, a price-to-earnings ratio of 9.96, a PEG ratio of 0.32 and a beta of 1.49. The stock has a fifty day moving average of $104.32 and a 200-day moving average of $97.77.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $2.73 EPS 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%. As a group, equities analysts forecast that Mr. Cooper Group Inc. will post 13.17 EPS 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.