Jacobs Levy Equity Management Inc. Sells 40,745 Shares of Mr. Cooper Group Inc. (NASDAQ:COOP)

Jacobs Levy Equity Management Inc. reduced its holdings in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) by 38.2% in the third quarter, Holdings Channel.com reports. The fund owned 66,004 shares of the company’s stock after selling 40,745 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Mr. Cooper Group were worth $6,084,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of COOP. Blue Trust Inc. increased its stake in Mr. Cooper Group by 77.1% in the second quarter. Blue Trust Inc. now owns 333 shares of the company’s stock worth $26,000 after purchasing an additional 145 shares during the period. CWM LLC increased its stake in Mr. Cooper Group by 34.5% in the 2nd quarter. CWM LLC now owns 601 shares of the company’s stock worth $49,000 after buying an additional 154 shares during the period. Aristeia Capital L.L.C. lifted its holdings in Mr. Cooper Group by 4.2% during the 2nd quarter. Aristeia Capital L.L.C. now owns 4,197 shares of the company’s stock valued at $341,000 after buying an additional 169 shares in the last quarter. Truist Financial Corp boosted its position in Mr. Cooper Group by 1.6% in the 2nd quarter. Truist Financial Corp now owns 11,840 shares of the company’s stock valued at $962,000 after buying an additional 187 shares during the period. Finally, Evergreen Capital Management LLC grew 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 acquiring an additional 211 shares in the last quarter. Hedge funds and other institutional investors own 89.82% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Compass Point lifted their price target on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Wedbush reaffirmed an “outperform” rating and set a $115.00 target price on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Finally, Barclays increased their price target on Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $98.00.

Insiders Place Their Bets

In related news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $97.58, for a total value of $2,927,400.00. Following the completion of the transaction, the chief executive officer now directly owns 788,821 shares of the company’s stock, valued at $76,973,153.18. This trade represents a 3.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 2.33% of the company’s stock.

Mr. Cooper Group Price Performance

Shares of NASDAQ COOP opened at $96.08 on Friday. Mr. Cooper Group Inc. has a 1-year low of $61.38 and a 1-year high of $103.05. The business has a fifty day moving average price of $94.77 and a 200 day moving average price of $89.36. The stock has a market capitalization of $6.15 billion, a P/E ratio of 12.41 and a beta of 1.41.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.30. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%. The business had revenue of $616.00 million for the quarter, compared to analysts’ expectations of $548.09 million. During the same period last 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, equities research analysts anticipate that Mr. Cooper Group Inc. will post 10.16 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.