Mr. Cooper Group Inc. (NASDAQ:COOP) CEO Sells $2,652,300.00 in Stock

Mr. Cooper Group Inc. (NASDAQ:COOP) CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $88.41, for a total transaction of $2,652,300.00. Following the sale, the chief executive officer now directly owns 818,821 shares of the company’s stock, valued at approximately $72,391,964.61. This trade represents a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Mr. Cooper Group Stock Down 0.9 %

Shares of NASDAQ:COOP opened at $96.85 on Friday. The company has a market capitalization of $6.20 billion, a price-to-earnings ratio of 12.51 and a beta of 1.40. The firm has a 50 day moving average of $92.74 and a 200 day moving average of $87.65. Mr. Cooper Group Inc. has a 52 week low of $56.64 and a 52 week high of $103.05.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $616.00 million for the quarter, compared to analyst estimates of $548.09 million. During the same period in the previous year, the company earned $2.79 earnings per share. The business’s revenue for the quarter was up 32.8% on a year-over-year basis. On average, sell-side analysts expect that Mr. Cooper Group Inc. will post 10.17 EPS for the current year.

Analyst Ratings Changes

COOP has been the topic of a number of research reports. Piper Sandler lifted their price objective on Mr. Cooper Group from $91.00 to $106.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Barclays lifted their price target on Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods downgraded Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 price target for the company. in a research report on Monday, July 22nd. Wedbush restated an “outperform” rating and issued a $115.00 target price on shares of Mr. Cooper Group in a report on Thursday, October 24th. Finally, Compass Point raised their price objective on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Mr. Cooper Group has a consensus rating of “Moderate Buy” and an average target price of $98.00.

Institutional Investors Weigh In On Mr. Cooper Group

A number of institutional investors and hedge funds have recently modified their holdings of COOP. Price T Rowe Associates Inc. MD raised its holdings in shares of Mr. Cooper Group by 984.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 390,957 shares of the company’s stock worth $30,476,000 after purchasing an additional 354,905 shares during the last quarter. 1832 Asset Management L.P. purchased a new position in Mr. Cooper Group in the 1st quarter valued at about $5,301,000. Sei Investments Co. boosted its stake in shares of Mr. Cooper Group by 68.2% in the first quarter. Sei Investments Co. now owns 36,139 shares of the company’s stock worth $2,817,000 after acquiring an additional 14,652 shares during the last quarter. Waterfall Asset Management LLC purchased a new stake in shares of Mr. Cooper Group during the second quarter worth approximately $809,000. Finally, Advisors Asset Management Inc. acquired a new position in Mr. Cooper Group in the 1st quarter valued at $476,000. Institutional investors and hedge funds own 89.82% 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.