K2 Principal Fund L.P. Reduces Stock Position in Mr. Cooper Group Inc. (NASDAQ:COOP)

K2 Principal Fund L.P. trimmed its holdings in Mr. Cooper Group Inc. (NASDAQ:COOP) by 74.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,172 shares of the company’s stock after selling 67,301 shares during the period. K2 Principal Fund L.P.’s holdings in Mr. Cooper Group were worth $1,882,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Point72 DIFC Ltd increased its position in shares of Mr. Cooper Group by 11.9% during the second quarter. Point72 DIFC Ltd now owns 8,214 shares of the company’s stock valued at $667,000 after buying an additional 871 shares during the period. Bank of Montreal Can increased its holdings in Mr. Cooper Group by 2.8% during the 2nd quarter. Bank of Montreal Can now owns 8,977 shares of the company’s stock worth $730,000 after acquiring an additional 241 shares during the period. Evergreen Capital Management LLC lifted its stake in Mr. Cooper Group by 4.2% in the 2nd quarter. Evergreen Capital Management LLC now owns 5,236 shares of the company’s stock worth $425,000 after purchasing an additional 211 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in Mr. Cooper Group by 7.5% in the 2nd quarter. Public Sector Pension Investment Board now owns 142,362 shares of the company’s stock valued at $11,564,000 after purchasing an additional 9,947 shares during the period. Finally, Waterfall Asset Management LLC purchased a new position in shares of Mr. Cooper Group during the 2nd quarter valued at $809,000. Institutional investors own 89.82% of the company’s stock.

Mr. Cooper Group Trading Up 1.3 %

Shares of NASDAQ COOP opened at $91.93 on Tuesday. The stock has a market cap of $5.95 billion, a price-to-earnings ratio of 9.63 and a beta of 1.41. The stock’s 50-day moving average is $89.88 and its 200 day moving average is $83.25. Mr. Cooper Group Inc. has a 1-year low of $52.46 and a 1-year high of $96.00.

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

Insiders Place Their Bets

In other news, CEO Jesse K. Bray sold 25,000 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $80.93, for a total transaction of $2,023,250.00. Following the transaction, the chief executive officer now directly owns 259,631 shares of the company’s stock, valued at $21,011,936.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Barclays increased their price objective on Mr. Cooper Group from $94.00 to $103.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods cut Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 price target on the stock. in a report on Monday, July 22nd. Piper Sandler boosted 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, Wedbush lifted their target price on shares of Mr. Cooper Group from $100.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Mr. Cooper Group has an average rating of “Moderate Buy” and a consensus target price of $95.57.

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.