Intech Investment Management LLC Invests $1.74 Million in Mr. Cooper Group Inc. (NASDAQ:COOP)

Intech Investment Management LLC bought a new position in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 21,445 shares of the company’s stock, valued at approximately $1,742,000.

Other large investors have also recently bought and sold shares of the company. Blue Trust Inc. grew its position in Mr. Cooper Group by 77.1% during the second quarter. Blue Trust Inc. now owns 333 shares of the company’s stock worth $26,000 after buying an additional 145 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Mr. Cooper Group by 8,275.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company’s stock valued at $27,000 after buying an additional 331 shares in the last quarter. CWM LLC lifted its holdings in Mr. Cooper Group by 34.5% in the 2nd quarter. CWM LLC now owns 601 shares of the company’s stock valued at $49,000 after purchasing an additional 154 shares in the last quarter. Quest Partners LLC acquired a new stake in Mr. Cooper Group during the fourth quarter worth approximately $61,000. Finally, Perkins Coie Trust Co acquired a new stake in shares of Mr. Cooper Group during the second quarter worth $81,000. Hedge funds and other institutional investors own 89.82% of the company’s stock.

Insider Activity at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 25,000 shares of Mr. Cooper Group stock in a transaction on 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 transaction, the chief executive officer now owns 259,631 shares of the company’s stock, valued at $21,011,936.83. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.33% of the company’s stock.

Mr. Cooper Group Stock Performance

COOP opened at $91.93 on Tuesday. The company has a market capitalization of $5.95 billion, a P/E ratio of 9.63 and a beta of 1.41. The company has a 50-day moving average of $89.88 and a 200-day moving average of $83.25. Mr. Cooper Group Inc. has a 1-year low of $52.46 and a 1-year high of $96.00.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings data on Thursday, July 25th. The company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.19. The firm had revenue of $583.00 million during the quarter, compared to analyst estimates of $552.09 million. Mr. Cooper Group had a return on equity of 14.10% and a net margin of 33.22%. Mr. Cooper Group’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.66 earnings per share. As a group, sell-side analysts expect that Mr. Cooper Group Inc. will post 9.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.