Cibc World Markets Corp Makes New $567,000 Investment in Mr. Cooper Group Inc. (NASDAQ:COOP)

Cibc World Markets Corp purchased a new position in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,905 shares of the company’s stock, valued at approximately $567,000.

A number of other institutional investors have also recently bought and sold shares of COOP. Picton Mahoney Asset Management boosted its stake in Mr. Cooper Group by 41.3% during the fourth quarter. Picton Mahoney Asset Management now owns 325 shares of the company’s stock worth $31,000 after buying an additional 95 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its holdings in shares of Mr. Cooper Group by 152.5% during the third quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock valued at $41,000 after acquiring an additional 270 shares during the period. Asset Planning Inc bought a new position in shares of Mr. Cooper Group during the fourth quarter valued at $48,000. ORG Partners LLC bought a new position in shares of Mr. Cooper Group during the fourth quarter valued at $51,000. Finally, Blue Trust Inc. lifted its holdings in shares of Mr. Cooper Group by 38.8% during the fourth quarter. Blue Trust Inc. now owns 794 shares of the company’s stock valued at $76,000 after acquiring an additional 222 shares during the period. Institutional investors and hedge funds own 89.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on COOP shares. Citizens Jmp raised Mr. Cooper Group to a “strong-buy” rating in a report on Tuesday, January 14th. Barclays lifted their price objective on Mr. Cooper Group from $111.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. 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 report on Thursday, February 13th. UBS Group lifted their price target on Mr. Cooper Group from $122.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Finally, Piper Sandler lifted their price target on Mr. Cooper Group from $113.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Mr. Cooper Group presently has a consensus rating of “Moderate Buy” and an average target price of $112.22.

Insider Buying and Selling

In other news, CEO Jesse K. Bray sold 30,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $112.24, for a total transaction of $3,367,200.00. Following the completion of the transaction, the chief executive officer now directly owns 698,821 shares in the company, valued at approximately $78,435,669.04. The trade was a 4.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.33% of the company’s stock.

Mr. Cooper Group Stock Down 1.3 %

Shares of COOP stock opened at $104.19 on Friday. The stock has a 50-day moving average price of $105.22 and a 200 day moving average price of $98.05. The firm has a market cap of $6.63 billion, a price-to-earnings ratio of 10.23, a PEG ratio of 0.32 and a beta of 1.49. Mr. Cooper Group Inc. has a 12 month low of $74.49 and a 12 month high of $114.05.

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

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.