Spire Wealth Management Takes Position in Mr. Cooper Group Inc. (NASDAQ:COOP)

Spire Wealth Management acquired a new stake in Mr. Cooper Group Inc. (NASDAQ:COOP) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,418 shares of the company’s stock, valued at approximately $1,480,000.

A number of other large investors have also recently added to or reduced their stakes in COOP. Quarry LP acquired a new position in Mr. Cooper Group in the second quarter valued at approximately $29,000. Financial Management Professionals Inc. acquired a new position in Mr. Cooper Group in the third quarter valued at approximately $30,000. Harvest Fund Management Co. Ltd lifted its holdings in Mr. Cooper Group by 152.5% in 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 last quarter. ORG Partners LLC acquired a new position in Mr. Cooper Group during the fourth quarter worth $51,000. Finally, Harbor Capital Advisors Inc. acquired a new position in Mr. Cooper Group during the third quarter worth $52,000. 89.82% of the stock is currently owned by institutional investors and hedge funds.

Mr. Cooper Group Stock Performance

Shares of COOP stock opened at $103.03 on Tuesday. Mr. Cooper Group Inc. has a 1 year low of $65.54 and a 1 year high of $107.85. The firm has a market cap of $6.59 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 0.30 and a beta of 1.43. The stock’s 50-day moving average is $97.88 and its two-hundred day moving average is $94.02.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wedbush restated an “outperform” rating and set a $115.00 price target on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Barclays increased their price objective on Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Compass Point increased their price objective on Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Piper Sandler increased their price objective on Mr. Cooper Group from $113.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Finally, Citizens Jmp upgraded Mr. Cooper Group to a “strong-buy” rating in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Mr. Cooper Group has an average rating of “Moderate Buy” and a consensus price target of $104.13.

Insider Transactions at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $97.58, for a total transaction of $2,927,400.00. Following the completion of the sale, the chief executive officer now owns 788,821 shares in the company, valued at approximately $76,973,153.18. This represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.33% of the company’s stock.

Mr. Cooper Group Profile

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.