Jesse K. Bray Sells 30,000 Shares of Mr. Cooper Group Inc. (NASDAQ:COOP) Stock

Mr. Cooper Group Inc. (NASDAQ:COOP) CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 758,821 shares of the company’s stock, valued at approximately $71,700,996.29. The trade was a 3.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Mr. Cooper Group Stock Up 1.5 %

Shares of Mr. Cooper Group stock opened at $95.39 on Friday. The firm has a market cap of $6.10 billion, a PE ratio of 12.32 and a beta of 1.41. Mr. Cooper Group Inc. has a 52 week low of $61.38 and a 52 week high of $103.05. The business’s fifty day simple moving average is $95.97 and its 200-day simple moving average is $91.32.

Mr. Cooper Group (NASDAQ:COOP) last posted its earnings results on Wednesday, October 23rd. The company reported $2.84 EPS 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 company had revenue of $616.00 million for the quarter, compared to analysts’ expectations of $548.09 million. During the same quarter in the prior year, the company posted $2.79 earnings per share. Mr. Cooper Group’s revenue for the quarter was up 32.8% compared to the same quarter last year. As a group, equities analysts expect that Mr. Cooper Group Inc. will post 10.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

COOP has been the subject of several recent research reports. Barclays increased their price target on Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Compass Point raised their target price on Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Wedbush reissued an “outperform” rating and set a $115.00 price target on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Mr. Cooper Group presently has an average rating of “Moderate Buy” and an average target price of $100.57.

Hedge Funds Weigh In On Mr. Cooper Group

A number of hedge funds have recently made changes to their positions in COOP. Financial Management Professionals Inc. purchased a new stake in Mr. Cooper Group in the third quarter valued at approximately $30,000. Allspring Global Investments Holdings LLC lifted its stake in Mr. Cooper Group by 8,275.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company’s stock worth $27,000 after acquiring an additional 331 shares in the last quarter. Quarry LP acquired a new position in Mr. Cooper Group during the 2nd quarter worth about $29,000. Harvest Fund Management Co. Ltd boosted its holdings in Mr. Cooper Group by 152.5% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock valued at $41,000 after acquiring an additional 270 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new position in Mr. Cooper Group in the 3rd quarter valued at about $52,000. 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.