Alliancebernstein L.P. Reduces Position in Mr. Cooper Group Inc. (NASDAQ:COOP)

Alliancebernstein L.P. lowered its stake in Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) by 18.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 117,797 shares of the company's stock after selling 26,070 shares during the quarter. Alliancebernstein L.P. owned 0.18% of Mr. Cooper Group worth $11,310,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Verition Fund Management LLC bought a new stake in Mr. Cooper Group in the third quarter valued at $201,000. HighTower Advisors LLC bought a new stake in Mr. Cooper Group in the 3rd quarter valued at about $2,353,000. State Street Corp raised its stake in Mr. Cooper Group by 1.9% during the 3rd 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. Kovitz Investment Group Partners LLC bought a new position in Mr. Cooper Group in the third quarter worth approximately $290,000. Finally, EP Wealth Advisors LLC acquired a new stake in Mr. Cooper Group in the third quarter valued at approximately $215,000. Institutional investors and hedge funds own 89.82% of the company's stock.

Mr. Cooper Group Trading Down 0.7 %

Shares of COOP stock traded down $0.81 during trading on Tuesday, hitting $115.08. The company's stock had a trading volume of 147,355 shares, compared to its average volume of 559,667. The company has a market cap of $7.32 billion, a PE ratio of 11.31, a P/E/G ratio of 0.32 and a beta of 1.17. The business has a fifty day moving average of $110.28 and a 200-day moving average of $101.28. Mr. Cooper Group Inc. has a 52 week low of $74.49 and a 52 week high of $137.60.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $2.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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, research analysts predict that Mr. Cooper Group Inc. will post 13.17 EPS for the current year.

Insider Buying and Selling

In other news, CEO Jesse K. Bray sold 30,000 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $112.24, for a total transaction of $3,367,200.00. Following the completion of the sale, the chief executive officer now owns 698,821 shares in the company, valued at $78,435,669.04. This trade represents a 4.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.33% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on COOP. Barclays upped their target price on Mr. Cooper Group from $130.00 to $147.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 8th. JMP Securities reaffirmed a "market outperform" rating and issued a $115.00 price objective on shares of Mr. Cooper Group in a research note on Thursday, February 13th. Citizens Jmp downgraded shares of Mr. Cooper Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 1st. Piper Sandler cut shares of Mr. Cooper Group from an "overweight" rating to a "neutral" rating and raised their price target for the company from $125.00 to $143.00 in a research report on Friday, April 4th. Finally, Keefe, Bruyette & Woods boosted their price objective on Mr. Cooper Group from $115.00 to $143.00 and gave the stock a "market perform" rating in a report on Tuesday, April 8th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $119.78.

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.