Thrivent Financial for Lutherans Acquires 54,806 Shares of Mr. Cooper Group Inc. (NASDAQ:COOP)

Posted by on May 14th, 2023

Thrivent Financial for Lutherans raised its position in shares of Mr. Cooper Group Inc. (NASDAQ:COOP – Get Rating) by 74.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 128,872 shares of the company’s stock after acquiring an additional 54,806 shares during the period. Thrivent Financial for Lutherans owned approximately 0.18% of Mr. Cooper Group worth $5,172,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of COOP. Wellington Management Group LLP increased its position in Mr. Cooper Group by 12,377.0% during the first quarter. Wellington Management Group LLP now owns 1,841,226 shares of the company’s stock valued at $84,089,000 after acquiring an additional 1,826,469 shares during the last quarter. Vanguard Group Inc. lifted its stake in Mr. Cooper Group by 25.0% in the first quarter. Vanguard Group Inc. now owns 8,125,291 shares of the company’s stock worth $371,082,000 after acquiring an additional 1,622,582 shares during the period. Assenagon Asset Management S.A. lifted its stake in Mr. Cooper Group by 2,079.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,127,749 shares of the company’s stock worth $45,257,000 after acquiring an additional 1,076,008 shares during the period. Goldman Sachs Group Inc. lifted its stake in Mr. Cooper Group by 168.6% in the first quarter. Goldman Sachs Group Inc. now owns 792,565 shares of the company’s stock worth $36,197,000 after acquiring an additional 497,500 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in Mr. Cooper Group by 325.4% in the first quarter. Renaissance Technologies LLC now owns 647,899 shares of the company’s stock worth $29,590,000 after acquiring an additional 495,600 shares during the period. Institutional investors own 83.91% of the company’s stock.

Mr. Cooper Group Price Performance

Shares of NASDAQ COOP opened at $44.43 on Friday. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 10.81 and a beta of 1.56. Mr. Cooper Group Inc. has a 12 month low of $35.81 and a 12 month high of $48.50. The firm’s 50 day simple moving average is $42.56 and its 200-day simple moving average is $43.19.

Mr. Cooper Group (NASDAQ:COOP – Get Rating) last announced its earnings results on Friday, February 10th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.09. The firm had revenue of $303.00 million for the quarter, compared to analyst estimates of $360.00 million. Mr. Cooper Group had a return on equity of 4.94% and a net margin of 17.34%. Analysts anticipate that Mr. Cooper Group Inc. will post 5.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on COOP shares. Barclays upped their price objective on shares of Mr. Cooper Group from $41.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Monday, February 13th. Credit Suisse Group increased their price target on shares of Mr. Cooper Group from $57.00 to $59.00 in a research report on Friday. Finally, Wedbush reissued an “outperform” rating on shares of Mr. Cooper Group in a research report on Monday, February 13th.

Insiders Place Their Bets

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 21,000 shares of the firm’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $47.08, for a total value of $988,680.00. Following the completion of the sale, the chief executive officer now directly owns 652,371 shares of the company’s stock, valued at approximately $30,713,626.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 63,000 shares of company stock valued at $2,783,550 in the last three months. 3.11% of the stock is currently owned by insiders.

About Mr. Cooper Group

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Mr. Cooper Group, Inc engages in the provision of residential loan services. It operated through the following segments: Servicing, and Originations. The Servicing segment consists of collecting loan payments, remitting principal and interest payments to investors, managing escrow funds for the payment of mortgage-related expenses, such as taxes and insurance, performing loss mitigation activities on behalf of investors and otherwise administering mortgage loan servicing portfolio.

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Institutional Ownership by Quarter for Mr. Cooper Group (NASDAQ:COOP)

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