Public Employees Retirement System of Ohio reduced its stake in shares of Mr. Cooper Group Inc. (NASDAQ:COOP – Free Report) by 17.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,306 shares of the company’s stock after selling 4,411 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Mr. Cooper Group were worth $1,964,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of COOP. Blue Trust Inc. increased its position in 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 boosted its stake in shares of Mr. Cooper Group by 8,275.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company’s stock valued at $27,000 after purchasing an additional 331 shares during the last quarter. Quarry LP acquired a new stake in shares of Mr. Cooper Group during the 2nd quarter worth approximately $29,000. Financial Management Professionals Inc. bought a new stake in shares of Mr. Cooper Group during the third quarter worth approximately $30,000. Finally, Harvest Fund Management Co. Ltd lifted its holdings in Mr. Cooper Group by 152.5% in the third quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock valued at $41,000 after buying an additional 270 shares during the period. 89.82% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have commented on COOP shares. Wedbush reaffirmed an “outperform” rating and set a $115.00 target price on shares of Mr. Cooper Group in a report on Thursday, October 24th. Barclays lifted their price objective on Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Finally, Compass Point upped their price objective on Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $100.57.
Insider Buying and Selling
In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $97.58, for a total value of $2,927,400.00. Following the transaction, the chief executive officer now owns 788,821 shares of the company’s stock, valued at approximately $76,973,153.18. The trade was a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.33% of the stock is owned by company insiders.
Mr. Cooper Group Stock Down 4.2 %
COOP opened at $94.34 on Thursday. The stock has a market cap of $6.04 billion, a P/E ratio of 12.19 and a beta of 1.41. Mr. Cooper Group Inc. has a 12 month low of $61.38 and a 12 month high of $103.05. The company has a fifty day simple moving average of $95.57 and a 200 day simple moving average of $90.25.
Mr. Cooper Group (NASDAQ:COOP – Get Free Report) last announced 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 return on equity of 13.77% and a net margin of 25.87%. The company had revenue of $616.00 million during the quarter, compared to the consensus estimate of $548.09 million. During the same period in the prior year, the company earned $2.79 earnings per share. The company’s revenue for the quarter was up 32.8% compared to the same quarter last year. On average, equities research analysts expect that Mr. Cooper Group Inc. will post 10.16 earnings per share for the current fiscal year.
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.
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