MetLife Investment Management LLC Reduces Stock Position in Mr. Cooper Group Inc. (NASDAQ:COOP)

MetLife Investment Management LLC decreased its holdings in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) by 2.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 36,048 shares of the company’s stock after selling 751 shares during the period. MetLife Investment Management LLC owned approximately 0.06% of Mr. Cooper Group worth $3,323,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in COOP. Assenagon Asset Management S.A. raised its holdings in shares of Mr. Cooper Group by 11.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,247,434 shares of the company’s stock valued at $114,988,000 after acquiring an additional 125,055 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Mr. Cooper Group by 6.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 916,365 shares of the company’s stock valued at $84,471,000 after purchasing an additional 52,001 shares in the last quarter. LSV Asset Management lifted its position in Mr. Cooper Group by 249.2% during the second quarter. LSV Asset Management now owns 633,260 shares of the company’s stock valued at $51,440,000 after purchasing an additional 451,926 shares during the last quarter. FMR LLC grew its stake in Mr. Cooper Group by 42.9% in the 3rd quarter. FMR LLC now owns 485,907 shares of the company’s stock worth $44,791,000 after buying an additional 145,767 shares in the last quarter. Finally, Hantz Financial Services Inc. bought a new position in shares of Mr. Cooper Group in the 2nd quarter worth $21,609,000. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 30,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $97.58, for a total transaction of $2,927,400.00. Following the transaction, the chief executive officer now owns 788,821 shares in the company, valued at $76,973,153.18. The trade was a 3.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.33% of the company’s stock.

Mr. Cooper Group Price Performance

Shares of COOP stock opened at $96.74 on Wednesday. The business has a 50-day moving average of $94.40 and a 200 day moving average of $89.18. Mr. Cooper Group Inc. has a 1-year low of $61.38 and a 1-year high of $103.05. The stock has a market capitalization of $6.19 billion, a PE ratio of 12.50 and a beta of 1.41.

Mr. Cooper Group (NASDAQ:COOP) last issued its earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $548.09 million. During the same quarter last year, the business earned $2.79 earnings per share. The business’s revenue was up 32.8% on a year-over-year basis. Analysts anticipate that Mr. Cooper Group Inc. will post 10.16 EPS for the current year.

Analyst Upgrades and Downgrades

COOP has been the subject of a number of research analyst reports. Barclays lifted their price objective on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Wedbush reiterated an “outperform” rating and issued a $115.00 price objective on shares of Mr. Cooper Group in a report on Thursday, October 24th. Finally, Compass Point increased their price objective on 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 equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.00.

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.