EMG Holdings L.P. Has $8.40 Million Stake in Mr. Cooper Group Inc. (NASDAQ:COOP)

EMG Holdings L.P. grew its position in Mr. Cooper Group Inc. (NASDAQ:COOP) by 11.8% during the fourth quarter, HoldingsChannel reports. The firm owned 87,512 shares of the company’s stock after buying an additional 9,270 shares during the quarter. Mr. Cooper Group comprises approximately 5.0% of EMG Holdings L.P.’s holdings, making the stock its 2nd biggest position. EMG Holdings L.P.’s holdings in Mr. Cooper Group were worth $8,402,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Picton Mahoney Asset Management boosted its stake in Mr. Cooper Group by 41.3% during the 4th quarter. Picton Mahoney Asset Management now owns 325 shares of the company’s stock valued at $31,000 after purchasing an additional 95 shares during the period. Asset Planning Inc bought a new position in Mr. Cooper Group in the 4th quarter worth approximately $48,000. ORG Partners LLC acquired a new position in shares of Mr. Cooper Group during the fourth quarter worth approximately $51,000. Blue Trust Inc. boosted its position in shares of Mr. Cooper Group by 38.8% in 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. Finally, National Bank of Canada FI acquired a new stake in shares of Mr. Cooper Group in the fourth quarter worth $78,000. 89.82% of the stock is currently owned by institutional investors and hedge funds.

Mr. Cooper Group Stock Up 4.6 %

Shares of COOP stock opened at $125.08 on Wednesday. The company has a market capitalization of $7.95 billion, a P/E ratio of 12.29, a P/E/G 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 $126.61. The firm has a 50-day moving average price of $106.80 and a 200 day moving average price of $99.15.

Mr. Cooper Group (NASDAQ:COOP) last posted its earnings results on Wednesday, February 12th. The company reported $2.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.65 by $0.08. Mr. Cooper Group had a net margin of 30.07% and a return on equity of 14.76%. As a group, research analysts expect that Mr. Cooper Group Inc. will post 13.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on COOP shares. Keefe, Bruyette & Woods upped their target price on shares of Mr. Cooper Group from $105.00 to $115.00 and gave the company a “market perform” rating in a research note on Thursday, February 13th. Citizens Jmp raised shares of Mr. Cooper Group to a “strong-buy” rating in a research report on Tuesday, January 14th. Barclays lifted their target price on Mr. Cooper Group from $111.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $115.00 price target on shares of Mr. Cooper Group in a report on Thursday, February 13th. Finally, Piper Sandler raised their price objective on Mr. Cooper Group from $113.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $112.22.

Insider Buying and Selling at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $112.24, for a total value of $3,367,200.00. Following the completion of the sale, the chief executive officer now directly owns 698,821 shares in the company, valued at approximately $78,435,669.04. This trade represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate 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.