Insider Selling: Mr. Cooper Group Inc. (NASDAQ:COOP) CEO Sells 30,000 Shares of Stock

Mr. Cooper Group Inc. (NASDAQ:COOP) CEO Jesse K. Bray sold 30,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $88.41, for a total value of $2,652,300.00. Following the completion of the sale, the chief executive officer now directly owns 818,821 shares in the company, valued at approximately $72,391,964.61. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Mr. Cooper Group Stock Performance

COOP traded up $0.50 during midday trading on Tuesday, reaching $101.93. 23,892 shares of the company were exchanged, compared to its average volume of 450,157. The company’s fifty day moving average price is $92.33 and its 200 day moving average price is $87.35. The company has a market cap of $6.52 billion, a price-to-earnings ratio of 13.10 and a beta of 1.40. Mr. Cooper Group Inc. has a one year low of $55.61 and a one year high of $103.05.

Mr. Cooper Group (NASDAQ:COOP) last announced 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 firm had revenue of $616.00 million for the quarter, compared to the consensus estimate of $548.09 million. During the same quarter in the previous year, the business earned $2.79 EPS. The company’s revenue was up 32.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Mr. Cooper Group Inc. will post 10.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on COOP. Keefe, Bruyette & Woods downgraded Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 price objective on the stock. in a report on Monday, July 22nd. Compass Point raised 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. Wedbush reissued an “outperform” rating and set a $115.00 price objective on shares of Mr. Cooper Group in a report on Thursday, October 24th. Piper Sandler lifted their target price 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, Barclays boosted 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. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $98.00.

Hedge Funds Weigh In On Mr. Cooper Group

Institutional investors have recently bought and sold shares of the company. Intech Investment Management LLC raised its holdings in Mr. Cooper Group by 200.2% during the 3rd quarter. Intech Investment Management LLC now owns 64,376 shares of the company’s stock valued at $5,934,000 after acquiring an additional 42,931 shares during the period. Moran Wealth Management LLC bought a new position in shares of Mr. Cooper Group in the third quarter worth $201,000. Whalen Wealth Management Inc. bought a new position in shares of Mr. Cooper Group in the third quarter worth $478,000. Prudent Man Advisors LLC bought a new position in shares of Mr. Cooper Group in the third quarter worth $241,000. Finally, Los Angeles Capital Management LLC increased its holdings in shares of Mr. Cooper Group by 50.7% in the third quarter. Los Angeles Capital Management LLC now owns 32,592 shares of the company’s stock worth $3,004,000 after purchasing an additional 10,964 shares during the period. Hedge funds and other institutional investors own 89.82% of the company’s stock.

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.