Louisiana State Employees Retirement System Cuts Stock Holdings in Mr. Cooper Group Inc. (NASDAQ:COOP)

Louisiana State Employees Retirement System decreased its position in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,900 shares of the company’s stock after selling 300 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Mr. Cooper Group were worth $2,967,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in COOP. Financial Management Professionals Inc. purchased a new stake in shares of Mr. Cooper Group during the third quarter valued at approximately $30,000. Harvest Fund Management Co. Ltd grew its holdings in shares of Mr. Cooper Group by 152.5% during 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 last quarter. ORG Partners LLC purchased a new stake in shares of Mr. Cooper Group during the fourth quarter valued at approximately $51,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Mr. Cooper Group during the third quarter valued at approximately $52,000. Finally, Blue Trust Inc. grew its holdings in shares of Mr. Cooper Group by 71.8% during the third quarter. Blue Trust Inc. now owns 572 shares of the company’s stock valued at $53,000 after buying an additional 239 shares during the last quarter. Hedge funds and other institutional investors own 89.82% of the company’s stock.

Wall Street Analyst Weigh In

COOP has been the topic of a number of research analyst reports. JMP Securities restated a “market outperform” rating and set a $115.00 price objective on shares of Mr. Cooper Group in a research report on Thursday. Keefe, Bruyette & Woods increased their price objective on shares of Mr. Cooper Group from $105.00 to $115.00 and gave the company a “market perform” rating in a research report on Thursday. Barclays increased their price objective on shares of Mr. Cooper Group from $111.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday. Wedbush restated an “outperform” rating and set a $115.00 price objective on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Finally, Compass Point increased their price objective on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mr. Cooper Group currently has an average rating of “Moderate Buy” and a consensus target price of $109.38.

Insider Activity

In other news, CEO Jesse K. Bray sold 30,000 shares of the firm’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 directly owns 758,821 shares in the company, valued at $71,700,996.29. This trade represents a 3.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.33% of the company’s stock.

Mr. Cooper Group Trading Up 1.8 %

COOP opened at $108.66 on Friday. Mr. Cooper Group Inc. has a 1-year low of $70.01 and a 1-year high of $109.38. The company has a market capitalization of $6.95 billion, a PE ratio of 14.04, a PEG ratio of 0.31 and a beta of 1.43. The firm’s 50 day simple moving average is $99.27 and its two-hundred day simple moving average is $94.88.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings results on Wednesday, February 12th. The company reported $2.73 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.08. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%. Equities analysts forecast that Mr. Cooper Group Inc. will post 10.18 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.