Basswood Capital Management L.L.C. Has $45.74 Million Stake in Mr. Cooper Group Inc. (NASDAQ:COOP)

Basswood Capital Management L.L.C. lifted its position in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) by 36.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 496,243 shares of the company’s stock after buying an additional 132,970 shares during the quarter. Mr. Cooper Group comprises about 2.4% of Basswood Capital Management L.L.C.’s holdings, making the stock its 11th largest position. Basswood Capital Management L.L.C.’s holdings in Mr. Cooper Group were worth $45,744,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of COOP. Paloma Partners Management Co bought a new stake in Mr. Cooper Group during the third quarter valued at $878,000. Maverick Capital Ltd. lifted its stake in shares of Mr. Cooper Group by 3.6% in the 3rd quarter. Maverick Capital Ltd. now owns 13,543 shares of the company’s stock valued at $1,248,000 after purchasing an additional 476 shares during the period. Encompass More Asset Management bought a new stake in shares of Mr. Cooper Group during the 3rd quarter valued at about $273,000. Verition Fund Management LLC acquired a new stake in Mr. Cooper Group during the third quarter worth approximately $201,000. Finally, De Lisle Partners LLP bought a new stake in Mr. Cooper Group in the third quarter worth approximately $1,106,000. Institutional investors own 89.82% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on COOP. Compass Point increased their price target on Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Barclays increased their target price on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $115.00 price target on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $98.00.

Mr. Cooper Group Trading Up 0.3 %

NASDAQ COOP opened at $98.67 on Monday. The company has a fifty day simple moving average of $94.29 and a 200 day simple moving average of $89.04. Mr. Cooper Group Inc. has a 12-month low of $60.01 and a 12-month high of $103.05. The company has a market cap of $6.31 billion, a P/E ratio of 12.75 and a beta of 1.41.

Mr. Cooper Group (NASDAQ:COOP) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.54 by $0.30. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%. The firm had revenue of $616.00 million during the quarter, compared to analysts’ expectations of $548.09 million. During the same period last year, the company earned $2.79 earnings per share. The business’s revenue was up 32.8% on a year-over-year basis. Sell-side analysts predict that Mr. Cooper Group Inc. will post 10.16 EPS for the current year.

Insider Buying and Selling at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $88.41, for a total transaction of $2,652,300.00. Following the transaction, the chief executive officer now directly owns 818,821 shares in the company, valued at approximately $72,391,964.61. This trade represents a 3.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.