Vanguard Group Inc. Sells 32,984 Shares of Mr. Cooper Group Inc. (NASDAQ:COOP)

Vanguard Group Inc. lowered its holdings in Mr. Cooper Group Inc. (NASDAQ:COOP) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,437,287 shares of the company’s stock after selling 32,984 shares during the quarter. Vanguard Group Inc. owned approximately 11.62% of Mr. Cooper Group worth $714,054,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of COOP. Picton Mahoney Asset Management lifted its holdings in Mr. Cooper Group by 41.3% during the fourth quarter. Picton Mahoney Asset Management now owns 325 shares of the company’s stock worth $31,000 after buying an additional 95 shares during the period. Asset Planning Inc purchased a new stake in shares of Mr. Cooper Group during the 4th quarter worth $48,000. ORG Partners LLC bought a new stake in Mr. Cooper Group during the fourth quarter valued at about $51,000. Blue Trust Inc. grew its stake in Mr. Cooper Group by 38.8% in the fourth quarter. Blue Trust Inc. now owns 794 shares of the company’s stock valued at $76,000 after purchasing an additional 222 shares during the last quarter. Finally, Verition Fund Management LLC bought a new position in Mr. Cooper Group in the third quarter worth about $201,000. Hedge funds and other institutional investors own 89.82% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on COOP shares. UBS Group lifted their price objective on shares of Mr. Cooper Group from $122.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Keefe, Bruyette & Woods upped their price target on Mr. Cooper Group from $105.00 to $115.00 and gave the stock a “market perform” rating in a research report on Thursday, February 13th. Citizens Jmp raised Mr. Cooper Group to a “strong-buy” rating in a research report on Tuesday, January 14th. JMP Securities reaffirmed a “market outperform” rating and set a $115.00 target price on shares of Mr. Cooper Group in a research report on Thursday, February 13th. Finally, Piper Sandler raised their price target on Mr. Cooper Group from $113.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $112.22.

Mr. Cooper Group Stock Down 2.4 %

Shares of NASDAQ COOP opened at $104.49 on Monday. Mr. Cooper Group Inc. has a 52 week low of $74.49 and a 52 week high of $114.05. The business’s 50 day moving average price is $106.03 and its 200 day moving average price is $98.73. The firm has a market cap of $6.65 billion, a P/E ratio of 10.26, a P/E/G ratio of 0.32 and a beta of 1.49.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings data on Wednesday, February 12th. The company reported $2.73 earnings per share for the quarter, topping analysts’ consensus estimates of $2.65 by $0.08. Mr. Cooper Group had a net margin of 30.07% and a return on equity of 14.76%. As a group, research analysts expect that Mr. Cooper Group Inc. will post 13.17 earnings per share for the current year.

Insider Buying and Selling at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $112.24, for a total transaction of $3,367,200.00. Following the sale, the chief executive officer now owns 698,821 shares of the company’s stock, valued at $78,435,669.04. This trade represents a 4.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.33% of the company’s stock.

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.