Adirondack Research & Management Inc. lowered its stake in Mr. Cooper Group Inc (NASDAQ:COOP) by 65.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 91,100 shares of the company’s stock after selling 169,122 shares during the quarter. Mr. Cooper Group accounts for 1.5% of Adirondack Research & Management Inc.’s portfolio, making the stock its 28th largest position. Adirondack Research & Management Inc.’s holdings in Mr. Cooper Group were worth $1,133,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Advisor Group Holdings Inc. purchased a new stake in Mr. Cooper Group in the first quarter worth approximately $53,000. Russell Investments Group Ltd. purchased a new stake in Mr. Cooper Group in the first quarter worth approximately $90,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Mr. Cooper Group by 54.7% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,377 shares of the company’s stock worth $92,000 after purchasing an additional 2,609 shares during the last quarter. SG Americas Securities LLC boosted its holdings in Mr. Cooper Group by 41.9% in the first quarter. SG Americas Securities LLC now owns 16,659 shares of the company’s stock worth $122,000 after purchasing an additional 4,922 shares during the last quarter. Finally, Arizona State Retirement System purchased a new position in shares of Mr. Cooper Group during the 1st quarter worth $125,000. Institutional investors own 83.64% of the company’s stock.
Shares of COOP stock traded down $0.34 on Friday, hitting $18.36. 849,100 shares of the stock traded hands, compared to its average volume of 845,453. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 25.15 and a beta of 1.39. Mr. Cooper Group Inc has a 52 week low of $4.31 and a 52 week high of $19.98. The firm has a 50 day simple moving average of $16.68 and a two-hundred day simple moving average of $11.86. The company has a debt-to-equity ratio of 2.19, a current ratio of 1.63 and a quick ratio of 1.63.
Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings data on Thursday, July 30th. The company reported $2.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $1.43. The firm had revenue of $630.00 million for the quarter, compared to the consensus estimate of $500.20 million. Mr. Cooper Group had a net margin of 3.26% and a return on equity of 28.39%. Sell-side analysts forecast that Mr. Cooper Group Inc will post 7.8 EPS for the current year.
COOP has been the topic of several analyst reports. Wedbush upgraded shares of Mr. Cooper Group from a “neutral” rating to an “outperform” rating and set a $13.00 price target on the stock in a research note on Friday, May 15th. TheStreet upgraded shares of Mr. Cooper Group from a “d+” rating to a “c-” rating in a research note on Wednesday, May 20th. BidaskClub upgraded shares of Mr. Cooper Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 4th. Barclays upgraded shares of Mr. Cooper Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $11.00 to $24.00 in a research note on Friday, July 31st. Finally, Piper Sandler lifted their price target on shares of Mr. Cooper Group from $15.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $19.00.
Mr. Cooper Group Company Profile
Mr. Cooper Group Inc provides servicing, origination, and transaction-based services related principally to single-family residences in the United States. The company operates through three segments: Servicing, Originations, and Xome. The Servicing segment performs activities for originated and purchased loans, as well as operates as a subservicer for various clients that own the underlying servicing rights.
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