Balyasny Asset Management LLC bought a new position in Mr. Cooper Group Inc (NASDAQ:COOP) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 21,415 shares of the company’s stock, valued at approximately $266,000.
A number of other hedge funds have also recently added to or reduced their stakes in the business. APG Asset Management N.V. acquired a new position in Mr. Cooper Group in the 2nd quarter valued at $235,000. Bank of Montreal Can boosted its stake in Mr. Cooper Group by 10,935.3% in the 2nd quarter. Bank of Montreal Can now owns 156,260 shares of the company’s stock worth $1,857,000 after buying an additional 154,844 shares during the last quarter. American International Group Inc. increased its stake in shares of Mr. Cooper Group by 3.9% during the 2nd quarter. American International Group Inc. now owns 46,811 shares of the company’s stock valued at $582,000 after acquiring an additional 1,751 shares during the last quarter. ClariVest Asset Management LLC purchased a new position in shares of Mr. Cooper Group during the 2nd quarter worth about $252,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Mr. Cooper Group by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 319,417 shares of the company’s stock worth $3,974,000 after acquiring an additional 10,836 shares during the period. 83.64% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on COOP shares. TheStreet raised shares of Mr. Cooper Group from a “d+” rating to a “c-” rating in a research note on Wednesday, May 20th. Credit Suisse Group restated a “buy” rating on shares of Mr. Cooper Group in a report on Tuesday, September 8th. Zacks Investment Research upgraded Mr. Cooper Group from a “sell” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Wednesday, July 1st. BidaskClub upgraded Mr. Cooper Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. Finally, KeyCorp lifted their price objective on Mr. Cooper Group from $12.00 to $14.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. One research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Mr. Cooper Group currently has an average rating of “Buy” and an average price target of $19.00.
Shares of COOP opened at $21.47 on Wednesday. The stock’s 50-day moving average is $18.11 and its two-hundred day moving average is $12.17. The stock has a market cap of $1.97 billion, a PE ratio of 29.41 and a beta of 1.39. Mr. Cooper Group Inc has a 12 month low of $4.31 and a 12 month high of $22.17. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.63 and a quick ratio of 1.63.
Mr. Cooper Group (NASDAQ:COOP) last posted its earnings results on Thursday, July 30th. The company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $1.43. The business had revenue of $630.00 million during the quarter, compared to analyst estimates of $500.20 million. Mr. Cooper Group had a return on equity of 28.39% and a net margin of 3.26%. On average, research analysts anticipate that Mr. Cooper Group Inc will post 7.8 earnings per share for the current year.
Mr. Cooper Group Company Profile
Mr. Cooper Group Inc provides servicing, origination, and transaction-based services related principally to single-family residences in the United States. The company operates through three segments: Servicing, Originations, and Xome. The Servicing segment performs activities for originated and purchased loans, as well as operates as a subservicer for various clients that own the underlying servicing rights.
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