Arrowstreet Capital Limited Partnership Sells 304,222 Shares of Mr. Cooper Group Inc. (NASDAQ:COOP)

Arrowstreet Capital Limited Partnership lessened its position in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) by 24.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 938,686 shares of the company’s stock after selling 304,222 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Mr. Cooper Group were worth $90,123,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its position in shares of Mr. Cooper Group by 1.9% during the third quarter. State Street Corp now owns 2,726,946 shares of the company’s stock worth $251,370,000 after buying an additional 51,667 shares during the period. Norges Bank acquired a new position in Mr. Cooper Group during the 4th quarter worth approximately $72,984,000. JPMorgan Chase & Co. boosted its position in Mr. Cooper Group by 15.5% during the 4th quarter. JPMorgan Chase & Co. now owns 644,159 shares of the company’s stock worth $61,846,000 after acquiring an additional 86,510 shares during the last quarter. Veridan Wealth LLC bought a new position in shares of Mr. Cooper Group during the 4th quarter worth approximately $56,244,000. Finally, Basswood Capital Management L.L.C. raised its holdings in shares of Mr. Cooper Group by 36.6% in the third quarter. Basswood Capital Management L.L.C. now owns 496,243 shares of the company’s stock valued at $45,744,000 after purchasing an additional 132,970 shares during the last quarter. Institutional investors and hedge funds own 89.82% of the company’s stock.

Insider Transactions at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $112.24, for a total value of $3,367,200.00. Following the transaction, the chief executive officer now directly owns 698,821 shares of the company’s stock, valued at $78,435,669.04. This represents a 4.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.33% of the stock is currently owned by corporate insiders.

Mr. Cooper Group Stock Up 14.5 %

COOP opened at $119.60 on Tuesday. Mr. Cooper Group Inc. has a 12-month low of $74.49 and a 12-month high of $125.86. The business has a 50 day moving average of $106.35 and a 200-day moving average of $98.93. The stock has a market cap of $7.61 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 0.32 and a beta of 1.49.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $2.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.08. Mr. Cooper Group had a return on equity of 14.76% and a net margin of 30.07%. As a group, analysts expect that Mr. Cooper Group Inc. will post 13.17 earnings per share for the current year.

Analysts Set New Price Targets

COOP has been the subject of a number of analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $115.00 target price on shares of Mr. Cooper Group in a research report on Thursday, February 13th. Citizens Jmp raised Mr. Cooper Group to a “strong-buy” rating in a research report on Tuesday, January 14th. Barclays upped their target price on Mr. Cooper Group from $111.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. UBS Group raised their price target on Mr. Cooper Group from $122.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Finally, Keefe, Bruyette & Woods increased their price objective on Mr. Cooper Group from $105.00 to $115.00 and gave the company a “market perform” rating in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $112.22.

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.