Mr. Cooper Group Inc. (NASDAQ:COOP) Holdings Lowered by New York State Teachers Retirement System

New York State Teachers Retirement System cut its stake in Mr. Cooper Group Inc. (NASDAQ:COOP) by 6.5% in the 2nd quarter, HoldingsChannel reports. The fund owned 96,649 shares of the company’s stock after selling 6,716 shares during the period. New York State Teachers Retirement System’s holdings in Mr. Cooper Group were worth $7,851,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in COOP. USA Financial Formulas acquired a new position in shares of Mr. Cooper Group in the 4th quarter worth approximately $25,000. Blue Trust Inc. lifted its holdings in shares of Mr. Cooper Group by 77.1% during the second quarter. Blue Trust Inc. now owns 333 shares of the company’s stock valued at $26,000 after purchasing an additional 145 shares during the last quarter. CWM LLC boosted its holdings 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 buying an additional 154 shares during the period. GAMMA Investing LLC acquired a new position in Mr. Cooper Group in the 4th quarter worth approximately $61,000. Finally, Quest Partners LLC acquired a new stake in shares of Mr. Cooper Group in the fourth quarter worth $61,000. Institutional investors own 89.82% of the company’s stock.

Insider Buying and Selling

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 25,000 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $80.93, for a total transaction of $2,023,250.00. Following the completion of 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 can be accessed through this hyperlink. Insiders own 2.33% of the company’s stock.

Mr. Cooper Group Stock Performance

COOP opened at $92.76 on Monday. The company has a market cap of $6.00 billion, a PE ratio of 9.71 and a beta of 1.39. The stock has a 50-day moving average of $85.63 and a 200-day moving average of $80.38. Mr. Cooper Group Inc. has a 52-week low of $52.46 and a 52-week high of $95.74.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings results on Thursday, July 25th. The company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.33 by $0.19. Mr. Cooper Group had a return on equity of 14.10% and a net margin of 33.22%. The company had revenue of $583.00 million for the quarter, compared to the consensus estimate of $552.09 million. During the same quarter last year, the company posted $1.66 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, research analysts predict that Mr. Cooper Group Inc. will post 9.86 earnings per share for the current year.

Analyst Ratings Changes

COOP has been the subject of several research reports. Barclays raised their price target on shares of Mr. Cooper Group from $94.00 to $103.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Wedbush boosted their price target on shares of Mr. Cooper Group from $100.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Piper Sandler increased their price objective on Mr. Cooper Group from $91.00 to $106.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, Keefe, Bruyette & Woods downgraded Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 target price on the stock. in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $91.88.

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.