Polymer Capital Management US LLC Buys Shares of 2,645 Mr. Cooper Group Inc. (NASDAQ:COOP)

Polymer Capital Management US LLC purchased a new stake in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,645 shares of the company’s stock, valued at approximately $254,000.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in Mr. Cooper Group in the fourth quarter valued at about $72,984,000. Veridan Wealth LLC bought a new stake in shares of Mr. Cooper Group in the 4th quarter valued at approximately $56,244,000. Wellington Management Group LLP raised its position in Mr. Cooper Group by 43.1% during the fourth quarter. Wellington Management Group LLP now owns 1,138,904 shares of the company’s stock valued at $109,346,000 after acquiring an additional 343,243 shares in the last quarter. Wealthfront Advisers LLC acquired a new stake in Mr. Cooper Group in the fourth quarter valued at approximately $9,795,000. Finally, Barclays PLC lifted its stake in Mr. Cooper Group by 198.0% in the third quarter. Barclays PLC now owns 132,017 shares of the company’s stock valued at $12,170,000 after acquiring an additional 87,712 shares during the last quarter. 89.82% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Jesse K. Bray sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $112.24, for a total transaction of $3,367,200.00. Following the sale, the chief executive officer now directly owns 698,821 shares in the company, valued at approximately $78,435,669.04. The trade was a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.33% of the company’s stock.

Mr. Cooper Group Stock Down 3.8 %

COOP opened at $129.09 on Tuesday. The stock’s 50 day moving average price is $109.06 and its two-hundred day moving average price is $100.24. The firm has a market capitalization of $8.21 billion, a P/E ratio of 12.68, a price-to-earnings-growth ratio of 0.32 and a beta of 1.17. Mr. Cooper Group Inc. has a 12-month low of $74.49 and a 12-month high of $137.60.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Piper Sandler downgraded shares of Mr. Cooper Group from an “overweight” rating to a “neutral” rating and raised their price target for the company from $125.00 to $143.00 in a report on Friday. Keefe, Bruyette & Woods raised their target price on Mr. Cooper Group from $105.00 to $115.00 and gave the company a “market perform” rating in a report on Thursday, February 13th. Barclays upped their price target 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. JMP Securities reissued a “market outperform” rating and set a $115.00 price objective on shares of Mr. Cooper Group in a report on Thursday, February 13th. Finally, Citizens Jmp lowered Mr. Cooper Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 1st. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Mr. Cooper Group has an average rating of “Moderate Buy” and an average target price of $114.78.

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.