Wealthfront Advisers LLC Makes New $9.80 Million Investment in Mr. Cooper Group Inc. (NASDAQ:COOP)

Wealthfront Advisers LLC bought a new position in Mr. Cooper Group Inc. (NASDAQ:COOP) in the fourth quarter, HoldingsChannel reports. The fund bought 102,019 shares of the company’s stock, valued at approximately $9,795,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Harvest Fund Management Co. Ltd boosted its position in shares of Mr. Cooper Group by 152.5% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock valued at $41,000 after purchasing an additional 270 shares in the last quarter. Asset Planning Inc bought a new position in Mr. Cooper Group in the fourth quarter worth approximately $48,000. ORG Partners LLC bought a new position in Mr. Cooper Group in the fourth quarter worth approximately $51,000. Blue Trust Inc. raised its stake in shares of Mr. Cooper Group by 38.8% in the fourth quarter. Blue Trust Inc. now owns 794 shares of the company’s stock worth $76,000 after purchasing an additional 222 shares during the last quarter. Finally, Moran Wealth Management LLC purchased a new stake in shares of Mr. Cooper Group in the third quarter worth approximately $201,000. Institutional investors and hedge funds own 89.82% of the company’s stock.

Wall Street Analyst Weigh In

COOP has been the subject of a number of research analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $115.00 price target on shares of Mr. Cooper Group in a research report on Thursday, February 13th. UBS Group raised their price target on Mr. Cooper Group from $122.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Barclays lifted their price objective on Mr. Cooper Group from $111.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Citizens Jmp raised Mr. Cooper Group to a “strong-buy” rating in a research note on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods lifted their price objective on Mr. Cooper Group from $105.00 to $115.00 and gave the company a “market perform” rating in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $112.22.

Mr. Cooper Group Trading Down 1.3 %

COOP opened at $99.22 on Wednesday. The firm has a market cap of $6.31 billion, a P/E ratio of 9.75, a P/E/G ratio of 0.32 and a beta of 1.49. Mr. Cooper Group Inc. has a 12 month low of $72.00 and a 12 month high of $114.05. The stock has a 50-day moving average of $103.87 and a 200 day moving average of $97.53.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $2.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.08. Mr. Cooper Group had a net margin of 30.07% and a return on equity of 14.76%. On average, research analysts forecast that Mr. Cooper Group Inc. will post 13.17 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jesse K. Bray sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $112.24, for a total value of $3,367,200.00. Following the completion of the transaction, the chief executive officer now owns 698,821 shares of the company’s stock, valued at $78,435,669.04. The trade was a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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.