Jesse K. Bray Sells 30,000 Shares of Mr. Cooper Group Inc. (NASDAQ:COOP) Stock

Mr. Cooper Group Inc. (NASDAQ:COOP) CEO Jesse K. Bray sold 30,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $94.49, for a total transaction of $2,834,700.00. Following the sale, the chief executive officer now owns 758,821 shares in the company, valued at approximately $71,700,996.29. This trade represents a 3.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Mr. Cooper Group Stock Performance

Shares of NASDAQ:COOP opened at $95.39 on Friday. Mr. Cooper Group Inc. has a fifty-two week low of $61.38 and a fifty-two week high of $103.05. The business has a 50-day simple moving average of $95.97 and a two-hundred day simple moving average of $91.25. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of 12.32 and a beta of 1.41.

Mr. Cooper Group (NASDAQ:COOP) last issued its earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $616.00 million during the quarter, compared to analyst estimates of $548.09 million. During the same quarter in the previous year, the firm earned $2.79 EPS. Mr. Cooper Group’s revenue was up 32.8% on a year-over-year basis. As a group, research analysts predict that Mr. Cooper Group Inc. will post 10.16 earnings per share for the current year.

Institutional Investors Weigh In On Mr. Cooper Group

Several hedge funds and other institutional investors have recently made changes to their positions in COOP. Allspring Global Investments Holdings LLC increased its position in shares of Mr. Cooper Group by 8,275.0% during 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. Natixis Advisors LLC increased its position in shares of Mr. Cooper Group by 4.2% during the 2nd quarter. Natixis Advisors LLC now owns 21,253 shares of the company’s stock valued at $1,726,000 after purchasing an additional 849 shares during the last quarter. Versor Investments LP purchased a new stake in shares of Mr. Cooper Group during the 2nd quarter valued at about $227,000. Victory Capital Management Inc. increased its position in shares of Mr. Cooper Group by 57.5% during the 2nd quarter. Victory Capital Management Inc. now owns 53,765 shares of the company’s stock valued at $4,367,000 after purchasing an additional 19,622 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its position in shares of Mr. Cooper Group by 498.0% during the 2nd quarter. Los Angeles Capital Management LLC now owns 21,628 shares of the company’s stock valued at $1,757,000 after purchasing an additional 18,011 shares during the last quarter. Hedge funds and other institutional investors own 89.82% of the company’s stock.

Wall Street Analysts Forecast Growth

COOP has been the topic of a number of analyst reports. Barclays upped their price target on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Compass Point upped their price target 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. Finally, Wedbush reiterated an “outperform” rating and issued a $115.00 price target on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Mr. Cooper Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.57.

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.