Oaktree Capital Management LP Invests $22.50 Million in Mr. Cooper Group Inc (COOP)
Oaktree Capital Management LP acquired a new stake in shares of Mr. Cooper Group Inc (NASDAQ:COOP) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,927,544 shares of the company’s stock, valued at approximately $22,495,000. Oaktree Capital Management LP owned about 2.12% of Mr. Cooper Group as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. purchased a new position in shares of Mr. Cooper Group during the fourth quarter valued at approximately $28,000. Bronfman E.L. Rothschild L.P. purchased a new stake in Mr. Cooper Group during the fourth quarter valued at approximately $46,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Mr. Cooper Group during the fourth quarter valued at approximately $56,000. American National Bank purchased a new stake in Mr. Cooper Group during the fourth quarter valued at approximately $96,000. Finally, Great West Life Assurance Co. Can purchased a new stake in Mr. Cooper Group during the fourth quarter valued at approximately $99,000. 89.33% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have commented on COOP. Zacks Investment Research cut shares of Mr. Cooper Group from a “hold” rating to a “strong sell” rating in a report on Friday. Wedbush reaffirmed an “outperform” rating and set a $13.50 target price (down from $18.00) on shares of Mr. Cooper Group in a report on Tuesday. ValuEngine cut shares of Mr. Cooper Group from a “hold” rating to a “sell” rating in a report on Tuesday, March 19th. BTIG Research began coverage on shares of Mr. Cooper Group in a report on Thursday, November 29th. They set a “buy” rating and a $21.00 target price for the company. Finally, Barclays set a $18.00 target price on shares of Mr. Cooper Group and gave the company a “hold” rating in a report on Friday, March 8th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. Mr. Cooper Group currently has an average rating of “Hold” and an average target price of $17.50.
About Mr. Cooper Group
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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