EMG Holdings L.P. Grows Position in Mr. Cooper Group Inc. (NASDAQ:COOP)

EMG Holdings L.P. boosted its stake in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) by 21.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 28,042 shares of the company’s stock after purchasing an additional 5,000 shares during the period. Mr. Cooper Group makes up about 1.1% of EMG Holdings L.P.’s portfolio, making the stock its 13th biggest position. EMG Holdings L.P.’s holdings in Mr. Cooper Group were worth $2,278,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its holdings in shares of Mr. Cooper Group by 984.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 390,957 shares of the company’s stock valued at $30,476,000 after acquiring an additional 354,905 shares during the last quarter. K2 Principal Fund L.P. boosted its holdings in shares of Mr. Cooper Group by 97.7% in the 4th quarter. K2 Principal Fund L.P. now owns 279,510 shares of the company’s stock valued at $18,202,000 after acquiring an additional 138,147 shares during the last quarter. 1832 Asset Management L.P. purchased a new stake in shares of Mr. Cooper Group in the 1st quarter valued at $5,301,000. Allianz Asset Management GmbH boosted its holdings in shares of Mr. Cooper Group by 2,060.4% in the 4th quarter. Allianz Asset Management GmbH now owns 102,423 shares of the company’s stock valued at $6,670,000 after acquiring an additional 97,682 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Mr. Cooper Group by 68.2% in the 1st quarter. Sei Investments Co. now owns 36,139 shares of the company’s stock valued at $2,817,000 after acquiring an additional 14,652 shares during the last quarter. Hedge funds and other institutional investors own 89.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on COOP shares. Barclays upped their price objective on shares of Mr. Cooper Group from $94.00 to $103.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Wedbush boosted their target price on shares of Mr. Cooper Group from $100.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Piper Sandler boosted their target price on shares of Mr. Cooper Group from $91.00 to $106.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, Keefe, Bruyette & Woods cut shares of Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 target price for the company. in a research note on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $95.57.

Mr. Cooper Group Stock Performance

NASDAQ:COOP opened at $92.35 on Friday. The company has a fifty day moving average of $89.49 and a two-hundred day moving average of $82.76. The stock has a market capitalization of $5.98 billion, a PE ratio of 9.67 and a beta of 1.41. Mr. Cooper Group Inc. has a fifty-two week low of $52.46 and a fifty-two week high of $96.00.

Mr. Cooper Group (NASDAQ:COOP) last posted its quarterly earnings data on Thursday, July 25th. The company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.19. The company had revenue of $583.00 million during the quarter, compared to analysts’ expectations of $552.09 million. Mr. Cooper Group had a net margin of 33.22% and a return on equity of 14.10%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.66 earnings per share. Research analysts forecast that Mr. Cooper Group Inc. will post 9.86 earnings per share for the current year.

Insider Activity

In other news, CEO Jesse K. Bray sold 25,000 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $80.93, for a total value of $2,023,250.00. Following the completion of the sale, the chief executive officer now directly owns 259,631 shares in the company, valued at $21,011,936.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.33% of the company’s stock.

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.