Insider Selling: Mr. Cooper Group Inc. (NASDAQ:COOP) CEO Sells 30,000 Shares of 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 transaction, the chief executive officer now directly owns 758,821 shares in the company, valued at approximately $71,700,996.29. This represents a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Mr. Cooper Group Stock Up 1.5 %

Shares of COOP traded up $1.39 during trading hours on Friday, hitting $95.39. 369,459 shares of the company were exchanged, compared to its average volume of 547,310. The company has a market cap of $6.10 billion, a price-to-earnings ratio of 12.32 and a beta of 1.41. The firm’s fifty day moving average is $95.84 and its 200 day moving average is $91.17. Mr. Cooper Group Inc. has a fifty-two week low of $61.38 and a fifty-two week high of $103.05.

Mr. Cooper Group (NASDAQ:COOP) last released its earnings results on Wednesday, October 23rd. The company reported $2.84 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $616.00 million for the quarter, compared to analyst estimates of $548.09 million. During the same period last year, the firm earned $2.79 EPS. The business’s quarterly revenue was up 32.8% compared to the same quarter last year. Analysts anticipate that Mr. Cooper Group Inc. will post 10.16 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Barclays increased their target price on Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Wedbush reiterated 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 boosted their target price 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 research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Mr. Cooper Group presently has a consensus rating of “Moderate Buy” and an average target price of $100.57.

Institutional Investors Weigh In On Mr. Cooper Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC bought a new stake in shares of Mr. Cooper Group during the 3rd quarter worth $2,459,000. World Investment Advisors LLC acquired a new position in Mr. Cooper Group during the third quarter worth about $2,537,000. Sanctuary Advisors LLC lifted its holdings in shares of Mr. Cooper Group by 137.1% in the third quarter. Sanctuary Advisors LLC now owns 18,843 shares of the company’s stock worth $1,873,000 after acquiring an additional 10,895 shares during the last quarter. Vestcor Inc acquired a new stake in shares of Mr. Cooper Group in the 3rd quarter valued at approximately $640,000. Finally, Barclays PLC grew its holdings in shares of Mr. Cooper Group by 198.0% during the 3rd quarter. Barclays PLC now owns 132,017 shares of the company’s stock valued at $12,170,000 after purchasing an additional 87,712 shares during the last quarter. 89.82% of the stock is currently owned by institutional investors.

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.