Creative Planning Boosts Stock Position in Mr. Cooper Group Inc. (NASDAQ:COOP)

Creative Planning boosted its position in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) by 14.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,099 shares of the company’s stock after acquiring an additional 2,478 shares during the period. Creative Planning’s holdings in Mr. Cooper Group were worth $1,551,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. lifted its stake in shares of Mr. Cooper Group by 77.1% during the 2nd quarter. Blue Trust Inc. now owns 333 shares of the company’s stock valued at $26,000 after buying an additional 145 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Mr. Cooper Group by 8,275.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company’s stock valued at $27,000 after acquiring an additional 331 shares in the last quarter. CWM LLC boosted its stake in shares of Mr. Cooper Group by 34.5% in the second quarter. CWM LLC now owns 601 shares of the company’s stock worth $49,000 after acquiring an additional 154 shares during the period. Perkins Coie Trust Co purchased a new stake in shares of Mr. Cooper Group during the second quarter worth about $81,000. Finally, GAMMA Investing LLC raised its stake in Mr. Cooper Group by 20.6% during the 1st quarter. GAMMA Investing LLC now owns 1,085 shares of the company’s stock valued at $85,000 after purchasing an additional 185 shares during the period. Hedge funds and other institutional investors own 89.82% of the company’s stock.

Analyst Ratings Changes

COOP has been the subject of several recent analyst reports. Keefe, Bruyette & Woods downgraded Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 price target for the company. in a research note on Monday, July 22nd. Barclays lifted their target price on Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday. Wedbush increased their price target 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. Finally, Piper Sandler lifted their price objective on Mr. Cooper Group from $91.00 to $106.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.29.

Mr. Cooper Group Price Performance

Shares of COOP stock opened at $92.54 on Wednesday. The company has a market cap of $5.97 billion, a PE ratio of 9.69 and a beta of 1.40. Mr. Cooper Group Inc. has a 1 year low of $52.50 and a 1 year high of $96.00. The stock’s 50 day simple moving average is $90.23 and its two-hundred day simple moving average is $84.59.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings results 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 company had revenue of $583.00 million for 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.66 EPS. Equities research analysts expect that Mr. Cooper Group Inc. will post 9.86 EPS for the current year.

Mr. Cooper Group Company 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.