VELA Investment Management LLC Grows Stake in Mr. Cooper Group Inc. (NASDAQ:COOP)

VELA Investment Management LLC boosted its position in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) by 7.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,146 shares of the company’s stock after purchasing an additional 403 shares during the quarter. VELA Investment Management LLC’s holdings in Mr. Cooper Group were worth $400,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in COOP. Federated Hermes Inc. increased its holdings in shares of Mr. Cooper Group by 55.1% in the 3rd quarter. Federated Hermes Inc. now owns 752 shares of the company’s stock valued at $30,000 after acquiring an additional 267 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in shares of Mr. Cooper Group by 95.0% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 780 shares of the company’s stock worth $32,000 after purchasing an additional 380 shares in the last quarter. Point72 Middle East FZE acquired a new stake in shares of Mr. Cooper Group in the 4th quarter worth $38,000. Public Employees Retirement System of Ohio boosted its position in shares of Mr. Cooper Group by 54.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 986 shares of the company’s stock worth $40,000 after purchasing an additional 349 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its position in shares of Mr. Cooper Group by 3,552.1% in the 4th quarter. Global Retirement Partners LLC now owns 1,753 shares of the company’s stock worth $109,000 after purchasing an additional 1,705 shares in the last quarter. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Jesse K. Bray sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $67.56, for a total value of $1,689,000.00. Following the transaction, the chief executive officer now directly owns 391,051 shares in the company, valued at $26,419,405.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Mr. Cooper Group news, CEO Jesse K. Bray sold 25,000 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $67.56, for a total transaction of $1,689,000.00. Following the transaction, the chief executive officer now directly owns 391,051 shares in the company, valued at $26,419,405.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Michael S. Weinbach purchased 17,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were purchased at an average price of $71.16 per share, for a total transaction of $1,209,720.00. Following the completion of the purchase, the president now directly owns 17,000 shares of the company’s stock, valued at $1,209,720. The disclosure for this purchase can be found here. In the last three months, insiders sold 75,000 shares of company stock worth $5,431,500. Corporate insiders own 3.11% of the company’s stock.

Mr. Cooper Group Stock Down 1.0 %

Shares of COOP stock traded down $0.77 on Tuesday, hitting $74.72. The company had a trading volume of 17,006 shares, compared to its average volume of 478,864. The firm has a market cap of $4.88 billion, a P/E ratio of 10.28 and a beta of 1.38. The company has a 50-day moving average price of $73.90 and a 200-day moving average price of $65.32. Mr. Cooper Group Inc. has a twelve month low of $41.74 and a twelve month high of $78.54.

Mr. Cooper Group (NASDAQ:COOP) last issued its quarterly earnings data on Friday, February 9th. The company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.34. Mr. Cooper Group had a return on equity of 12.01% and a net margin of 27.87%. The business had revenue of $404.00 million during the quarter, compared to analysts’ expectations of $398.31 million. Equities research analysts expect that Mr. Cooper Group Inc. will post 9.01 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on COOP shares. Deutsche Bank Aktiengesellschaft started coverage on Mr. Cooper Group in a research report on Wednesday, January 10th. They issued a “buy” rating and a $88.00 price objective for the company. Keefe, Bruyette & Woods raised their price objective on Mr. Cooper Group from $83.00 to $86.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 9th. Wedbush raised their price objective on Mr. Cooper Group from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, February 12th. Finally, Barclays raised their price objective on Mr. Cooper Group from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $78.50.

About Mr. Cooper Group

Mr. Cooper Group Inc engages in non-banking services for mortgage loans the United States. The company operates through Servicing and Originations segments. The Servicing segment performs activities for underlying mortgages, including collecting and disbursing borrower payments, investor reporting, customer service, and modifying loans.