Algert Global LLC Sells 4,490 Shares of Mr. Cooper Group Inc. (NASDAQ:COOP)

Algert Global LLC lowered its stake in Mr. Cooper Group Inc. (NASDAQ:COOP) by 18.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,764 shares of the company’s stock after selling 4,490 shares during the period. Algert Global LLC’s holdings in Mr. Cooper Group were worth $1,822,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Blue Trust Inc. increased its position in shares of Mr. Cooper Group by 77.1% in the second quarter. Blue Trust Inc. now owns 333 shares of the company’s stock worth $26,000 after purchasing an additional 145 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Mr. Cooper Group by 8,275.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company’s stock worth $27,000 after purchasing an additional 331 shares during the period. Quarry LP bought a new position in shares of Mr. Cooper Group in the second quarter worth $29,000. Financial Management Professionals Inc. bought a new position in shares of Mr. Cooper Group in the third quarter worth $30,000. Finally, CWM LLC increased its position in shares of Mr. Cooper Group by 34.5% in the second quarter. CWM LLC now owns 601 shares of the company’s stock worth $49,000 after purchasing an additional 154 shares during the period. Institutional investors own 89.82% of the company’s stock.

Mr. Cooper Group Trading Up 0.0 %

Shares of COOP stock opened at $98.33 on Thursday. The business’s 50-day moving average price is $93.92 and its 200-day moving average price is $88.74. Mr. Cooper Group Inc. has a 12 month low of $59.03 and a 12 month high of $103.05. The firm has a market capitalization of $6.29 billion, a price-to-earnings ratio of 12.70 and a beta of 1.40.

Mr. Cooper Group (NASDAQ:COOP) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.30. The company had revenue of $616.00 million for the quarter, compared to analyst estimates of $548.09 million. Mr. Cooper Group had a return on equity of 13.77% and a net margin of 25.87%. The firm’s quarterly revenue was up 32.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.79 earnings per share. On average, sell-side analysts predict that Mr. Cooper Group Inc. will post 10.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Barclays lifted their target price on Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Compass Point lifted their target price on Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Wedbush reiterated an “outperform” rating and issued a $115.00 target price on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.00.

Insider Buying and Selling

In related news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $88.41, for a total value of $2,652,300.00. Following the transaction, the chief executive officer now directly owns 818,821 shares of the company’s stock, valued at $72,391,964.61. The trade was a 3.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.33% of the stock is owned by insiders.

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.