Geode Capital Management LLC Sells 27,674 Shares of Mr. Cooper Group Inc. (NASDAQ:COOP)

Geode Capital Management LLC lessened its holdings in Mr. Cooper Group Inc. (NASDAQ:COOP) by 1.8% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,526,223 shares of the company’s stock after selling 27,674 shares during the period. Geode Capital Management LLC’s holdings in Mr. Cooper Group were worth $140,714,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its holdings in shares of Mr. Cooper Group by 6.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 916,365 shares of the company’s stock valued at $84,471,000 after acquiring an additional 52,001 shares in the last quarter. Cynosure Group LLC bought a new position in shares of Mr. Cooper Group in the third quarter worth approximately $730,000. FMR LLC raised its stake in Mr. Cooper Group by 42.9% in the third quarter. FMR LLC now owns 485,907 shares of the company’s stock valued at $44,791,000 after purchasing an additional 145,767 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in Mr. Cooper Group by 50.7% during the third quarter. Los Angeles Capital Management LLC now owns 32,592 shares of the company’s stock valued at $3,004,000 after purchasing an additional 10,964 shares during the last quarter. Finally, Waterfall Asset Management LLC purchased a new position in Mr. Cooper Group in the 2nd quarter worth approximately $809,000. Institutional investors own 89.82% of the company’s stock.

Mr. Cooper Group Trading Up 1.4 %

Shares of NASDAQ:COOP opened at $98.23 on Tuesday. Mr. Cooper Group Inc. has a 12-month low of $61.38 and a 12-month high of $103.05. The stock’s 50-day moving average price is $95.45 and its 200-day moving average price is $90.12. The stock has a market capitalization of $6.28 billion, a P/E ratio of 12.69 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 analysts’ consensus estimates of $2.54 by $0.30. The business had revenue of $616.00 million for the quarter, compared to analysts’ expectations of $548.09 million. Mr. Cooper Group had a return on equity of 13.77% and a net margin of 25.87%. The business’s quarterly revenue was up 32.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.79 EPS. As a group, research analysts predict that Mr. Cooper Group Inc. will post 10.16 EPS for the current year.

Insider Activity 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. 2.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on COOP. Wedbush restated an “outperform” rating and set a $115.00 price objective on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Compass Point raised their price target 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. Finally, Barclays lifted their price target 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. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.57.

Mr. Cooper Group Company Profile

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.