CIBC Asset Management Inc Acquires 232 Shares of Mr. Cooper Group Inc. (NASDAQ:COOP)

CIBC Asset Management Inc lifted its holdings in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) by 3.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,366 shares of the company’s stock after purchasing an additional 232 shares during the quarter. CIBC Asset Management Inc’s holdings in Mr. Cooper Group were worth $611,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in COOP. Financial Management Professionals Inc. bought a new position in shares of Mr. Cooper Group during the third quarter worth approximately $30,000. Harvest Fund Management Co. Ltd increased its stake in Mr. Cooper Group by 152.5% in the third quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock valued at $41,000 after acquiring an additional 270 shares during the last quarter. Asset Planning Inc bought a new position in Mr. Cooper Group in the fourth quarter valued at approximately $48,000. ORG Partners LLC bought a new position in Mr. Cooper Group in the fourth quarter valued at approximately $51,000. Finally, Harbor Capital Advisors Inc. bought a new position in Mr. Cooper Group in the third quarter valued at approximately $52,000. 89.82% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on COOP. JMP Securities reissued a “market outperform” rating and issued a $115.00 price objective on shares of Mr. Cooper Group in a research note on Thursday, February 13th. Citizens Jmp raised shares of Mr. Cooper Group to a “strong-buy” rating in a research note on Tuesday, January 14th. Piper Sandler lifted their price objective on shares of Mr. Cooper Group from $113.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods lifted their price objective on shares of Mr. Cooper Group from $105.00 to $115.00 and gave the company a “market perform” rating in a research note on Thursday, February 13th. Finally, Barclays lifted their price objective on shares of Mr. Cooper Group from $111.00 to $130.00 and gave the company an “overweight” rating 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $112.22.

Mr. Cooper Group Price Performance

Shares of Mr. Cooper Group stock opened at $110.51 on Friday. Mr. Cooper Group Inc. has a fifty-two week low of $70.01 and a fifty-two week high of $110.97. The firm has a market capitalization of $7.07 billion, a P/E ratio of 10.86, a P/E/G ratio of 0.32 and a beta of 1.43. The company’s 50 day moving average price is $100.78 and its two-hundred day moving average price is $95.83.

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

Insider Transactions at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $97.58, for a total transaction of $2,927,400.00. Following the transaction, the chief executive officer now owns 788,821 shares in the company, valued at approximately $76,973,153.18. The trade was a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.33% of the stock is owned by company insiders.

About Mr. Cooper Group

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.