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 Mr. Cooper Group stock in a transaction 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 transaction, the chief executive officer now directly owns 788,821 shares of the company’s stock, valued at approximately $76,973,153.18. The trade was a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Mr. Cooper Group Stock Down 0.3 %

Shares of COOP stock opened at $96.42 on Thursday. The stock has a 50-day moving average price of $94.53 and a 200 day moving average price of $89.26. The firm has a market cap of $6.17 billion, a price-to-earnings ratio of 12.46 and a beta of 1.41. Mr. Cooper Group Inc. has a 12 month low of $61.38 and a 12 month high of $103.05.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.30. The firm had revenue of $616.00 million during the quarter, compared to analyst estimates of $548.09 million. Mr. Cooper Group had a return on equity of 13.77% and a net margin of 25.87%. The company’s revenue was up 32.8% on a year-over-year basis. During the same period last year, the company earned $2.79 earnings per share. Sell-side analysts predict that Mr. Cooper Group Inc. will post 10.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on COOP. Barclays lifted their price objective 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 company a “buy” rating in a research note on Thursday, October 24th. Finally, Wedbush restated an “outperform” rating and issued a $115.00 target price on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.00.

Hedge Funds Weigh In On Mr. Cooper Group

Institutional investors have recently modified their holdings of the stock. Blue Trust Inc. grew its position in shares of Mr. Cooper Group by 77.1% during the 2nd quarter. Blue Trust Inc. now owns 333 shares of the company’s stock worth $26,000 after buying an additional 145 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of 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 buying an additional 331 shares during the period. Quarry LP acquired a new position in shares of Mr. Cooper Group during the 2nd quarter worth about $29,000. Financial Management Professionals Inc. acquired a new position in shares of Mr. Cooper Group during the 3rd quarter worth about $30,000. Finally, Harvest Fund Management Co. Ltd grew its position in shares of Mr. Cooper Group by 152.5% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock worth $41,000 after buying an additional 270 shares during the period. 89.82% of the stock is currently owned by institutional investors and hedge funds.

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.