Mr. Cooper Group Inc. (NASDAQ:COOP) Shares Purchased by MassMutual Private Wealth & Trust FSB

MassMutual Private Wealth & Trust FSB raised its holdings in Mr. Cooper Group Inc. (NASDAQ:COOP) by 9,175.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,916 shares of the company’s stock after purchasing an additional 4,863 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Mr. Cooper Group were worth $472,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in COOP. State Street Corp raised its stake in shares of Mr. Cooper Group by 1.9% in the 3rd quarter. State Street Corp now owns 2,726,946 shares of the company’s stock valued at $251,370,000 after purchasing an additional 51,667 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Mr. Cooper Group by 11.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,247,434 shares of the company’s stock valued at $114,988,000 after acquiring an additional 125,055 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Mr. Cooper Group by 6.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 916,365 shares of the company’s stock valued at $84,471,000 after acquiring an additional 52,001 shares in the last quarter. Basswood Capital Management L.L.C. lifted its stake in 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 last quarter. Finally, FMR LLC increased its stake in Mr. Cooper Group by 42.9% during the third quarter. FMR LLC now owns 485,907 shares of the company’s stock valued at $44,791,000 after purchasing an additional 145,767 shares during the last quarter. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

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 stock was 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 directly owns 788,821 shares in the company, valued at approximately $76,973,153.18. This trade represents a 3.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders sold 90,000 shares of company stock valued at $8,414,400. Company insiders own 2.33% of the company’s stock.

Wall Street Analyst Weigh In

COOP has been the subject of several research reports. Citizens Jmp raised shares of Mr. Cooper Group to a “strong-buy” rating in a report on Tuesday, January 14th. JMP Securities began coverage on Mr. Cooper Group in a report on Tuesday, January 14th. They set an “outperform” rating and a $115.00 target price for the company. Compass Point increased their price target on Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Wedbush restated an “outperform” rating and set a $115.00 price objective on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Finally, Barclays increased their target price on Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $102.38.

Mr. Cooper Group Stock Performance

Shares of COOP stock opened at $102.81 on Wednesday. Mr. Cooper Group Inc. has a 1 year low of $64.24 and a 1 year high of $105.00. The firm has a market capitalization of $6.58 billion, a PE ratio of 13.28, a price-to-earnings-growth ratio of 0.30 and a beta of 1.43. The stock has a fifty day moving average of $96.67 and a two-hundred day moving average of $92.75.

Mr. Cooper Group (NASDAQ:COOP) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.30. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%. The business had revenue of $616.00 million during the quarter, compared to the consensus estimate of $548.09 million. During the same quarter in the prior year, the company posted $2.79 earnings per share. The company’s quarterly revenue was up 32.8% compared to the same quarter last year. Equities research analysts predict that Mr. Cooper Group Inc. will post 10.18 earnings per share for the current fiscal year.

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.