Assetmark Inc. Raises Stake in Mr. Cooper Group Inc. (NASDAQ:COOP)

Posted by Defense World Staff on Aug 8th, 2023

Assetmark Inc. lifted its position in shares of Mr. Cooper Group Inc. (NASDAQ:COOP – Free Report) by 11.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83,689 shares of the company’s stock after buying an additional 8,489 shares during the quarter. Assetmark Inc. owned approximately 0.12% of Mr. Cooper Group worth $3,429,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of COOP. Vanguard Group Inc. boosted its position in shares of 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 last quarter. Wellington Management Group LLP boosted its position in shares of Mr. Cooper Group by 12,377.0% in the first quarter. Wellington Management Group LLP now owns 1,841,226 shares of the company’s stock worth $84,089,000 after acquiring an additional 1,826,469 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Mr. Cooper Group by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 1,341,174 shares of the company’s stock worth $53,821,000 after acquiring an additional 23,317 shares during the last quarter. Northern Trust Corp boosted its position in shares of Mr. Cooper Group by 8.5% in the second quarter. Northern Trust Corp now owns 928,148 shares of the company’s stock worth $34,100,000 after acquiring an additional 72,389 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Mr. Cooper Group by 3.4% in the first quarter. Invesco Ltd. now owns 833,961 shares of the company’s stock worth $38,087,000 after acquiring an additional 27,515 shares during the last quarter. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

Mr. Cooper Group Stock Up 0.4 %

Shares of COOP stock opened at $59.48 on Tuesday. The firm’s 50 day moving average price is $51.66 and its two-hundred day moving average price is $46.78. Mr. Cooper Group Inc. has a fifty-two week low of $37.54 and a fifty-two week high of $60.68. The stock has a market cap of $3.98 billion, a price-to-earnings ratio of 14.33 and a beta of 1.58.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on COOP shares. Wedbush raised their target price on shares of Mr. Cooper Group from $55.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, July 27th. Piper Sandler lifted their price target on shares of Mr. Cooper Group from $63.00 to $72.00 in a research report on Thursday, July 27th. Finally, Credit Suisse Group lifted their price target on shares of Mr. Cooper Group from $57.00 to $59.00 in a research report on Friday, May 12th.

Get Our Latest Research Report on Mr. Cooper Group

Insider Transactions at Mr. Cooper Group

In other news, CEO Michael R. Rawls sold 33,000 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $59.17, for a total transaction of $1,952,610.00. Following the transaction, the chief executive officer now directly owns 82,263 shares of the company’s stock, valued at $4,867,501.71. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Jesse K. Bray sold 21,000 shares of Mr. Cooper Group stock in a transaction on Friday, July 28th. The shares were sold at an average price of $58.72, for a total value of $1,233,120.00. Following the completion of the sale, the chief executive officer now owns 538,821 shares in the company, valued at $31,639,569.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael R. Rawls sold 33,000 shares of Mr. Cooper Group stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $59.17, for a total transaction of $1,952,610.00. Following the completion of the sale, the chief executive officer now owns 82,263 shares of the company’s stock, valued at approximately $4,867,501.71. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,000 shares of company stock valued at $4,240,350. Corporate insiders own 3.11% of the company’s stock.

Mr. Cooper Group Profile

(Free Report)

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