Maryland State Retirement & Pension System Sells 658 Shares of Mr. Cooper Group Inc. (NASDAQ:COOP)

Maryland State Retirement & Pension System reduced its stake in Mr. Cooper Group Inc. (NASDAQ:COOP) by 2.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,278 shares of the company’s stock after selling 658 shares during the period. Maryland State Retirement & Pension System’s holdings in Mr. Cooper Group were worth $1,765,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of COOP. USA Financial Formulas bought a new stake in Mr. Cooper Group during the fourth quarter worth about $25,000. GAMMA Investing LLC bought a new position in shares of Mr. Cooper Group in the fourth quarter valued at about $61,000. Quest Partners LLC acquired a new position in Mr. Cooper Group during the 4th quarter worth about $61,000. Centaurus Financial Inc. acquired a new position in Mr. Cooper Group during the 4th quarter worth about $101,000. Finally, Headlands Technologies LLC increased its position in Mr. Cooper Group by 637.1% in the 4th quarter. Headlands Technologies LLC now owns 1,651 shares of the company’s stock valued at $108,000 after acquiring an additional 1,427 shares in the last quarter. 89.82% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 25,000 shares of Mr. Cooper Group stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $80.93, for a total value of $2,023,250.00. Following the sale, the chief executive officer now owns 259,631 shares of the company’s stock, valued at approximately $21,011,936.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Jesse K. Bray sold 25,000 shares of Mr. Cooper Group stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $80.93, for a total value of $2,023,250.00. Following the sale, the chief executive officer now directly owns 259,631 shares in the company, valued at $21,011,936.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael R. Rawls sold 27,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $82.18, for a total transaction of $2,218,860.00. Following the transaction, the chief executive officer now owns 57,623 shares of the company’s stock, valued at approximately $4,735,458.14. The disclosure for this sale can be found here. Insiders sold 102,000 shares of company stock worth $8,247,360 over the last quarter. 2.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

COOP has been the topic of a number of research reports. Jefferies Financial Group upped their target price on shares of Mr. Cooper Group from $74.00 to $80.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. Wedbush lifted their target price on Mr. Cooper Group from $85.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Barclays upped their price target on Mr. Cooper Group from $85.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft lifted their price objective on Mr. Cooper Group from $88.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $92.00 price objective (up from $86.00) on shares of Mr. Cooper Group in a report on Thursday, April 25th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Mr. Cooper Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $85.13.

Mr. Cooper Group Trading Down 1.5 %

Shares of COOP stock traded down $1.18 on Friday, hitting $80.06. The stock had a trading volume of 24,440 shares, compared to its average volume of 442,724. The firm has a market cap of $5.18 billion, a P/E ratio of 8.51 and a beta of 1.39. Mr. Cooper Group Inc. has a twelve month low of $48.01 and a twelve month high of $85.17. The company has a fifty day moving average price of $81.77 and a two-hundred day moving average price of $74.58.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings results on Wednesday, April 24th. The company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.17. Mr. Cooper Group had a return on equity of 13.31% and a net margin of 31.75%. The company had revenue of $564.00 million for the quarter, compared to analyst estimates of $498.15 million. On average, analysts expect that Mr. Cooper Group Inc. will post 9.42 earnings per share for the current year.

Mr. Cooper Group Company 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.