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 company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $94.49, for a total value of $2,834,700.00. Following the sale, the chief executive officer now directly owns 758,821 shares in the company, valued at $71,700,996.29. This represents a 3.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Mr. Cooper Group Stock Up 1.5 %

Shares of Mr. Cooper Group stock opened at $95.39 on Friday. Mr. Cooper Group Inc. has a 52 week low of $61.38 and a 52 week high of $103.05. The firm’s 50 day moving average is $95.97 and its two-hundred day moving average is $91.32. The firm has a market capitalization of $6.10 billion, a P/E ratio of 12.32 and a beta of 1.41.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $2.84 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 analyst estimates of $548.09 million. During the same period last year, the business earned $2.79 EPS. Mr. Cooper Group’s revenue for the quarter was up 32.8% compared to the same quarter last year. As a group, research analysts expect that Mr. Cooper Group Inc. will post 10.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Barclays upped their price target on Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Wedbush restated an “outperform” rating and set a $115.00 target price on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Finally, Compass Point lifted their price target on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Mr. Cooper Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.57.

Institutional Trading of Mr. Cooper Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew 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 buying an additional 331 shares during the last quarter. Quarry LP acquired a new stake in shares of Mr. Cooper Group in the second quarter valued at approximately $29,000. Financial Management Professionals Inc. purchased a new position in shares of Mr. Cooper Group during the third quarter worth approximately $30,000. Harvest Fund Management Co. Ltd increased its holdings in shares of Mr. Cooper Group by 152.5% in 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. purchased a new stake in Mr. Cooper Group in the 3rd quarter valued at $52,000. Institutional investors and hedge funds own 89.82% 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.