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 business’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 owns 758,821 shares in the company, valued at $71,700,996.29. This represents a 3.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Mr. Cooper Group Stock Up 1.5 %

Mr. Cooper Group stock traded up $1.39 during trading hours on Friday, reaching $95.39. 369,459 shares of the company’s stock were exchanged, compared to its average volume of 547,310. The firm has a market capitalization of $6.10 billion, a PE ratio of 12.32 and a beta of 1.41. The firm’s 50 day simple moving average is $95.84 and its 200 day simple moving average is $91.17. Mr. Cooper Group Inc. has a twelve month low of $61.38 and a twelve month high of $103.05.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Financial Management Professionals Inc. bought a new stake in Mr. Cooper Group in the third quarter valued at $30,000. Allspring Global Investments Holdings LLC raised 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 period. Quarry LP bought a new position in Mr. Cooper Group in the second quarter worth approximately $29,000. Harvest Fund Management Co. Ltd grew its stake in Mr. Cooper Group by 152.5% in the third 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. bought a new stake in shares of Mr. Cooper Group during the third quarter valued at approximately $52,000. Institutional investors and hedge funds own 89.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on COOP. Compass Point boosted their price target on Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Barclays boosted their target price 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. Finally, Wedbush reaffirmed an “outperform” rating and set a $115.00 price target on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Mr. Cooper Group presently has an average rating of “Moderate Buy” and an average target price of $100.57.

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.