Mr. Cooper Group Inc. (NASDAQ:COOP) is Basswood Capital Management L.L.C.'s 9th Largest Position

Basswood Capital Management L.L.C. cut its position in Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 486,122 shares of the company's stock after selling 10,121 shares during the quarter. Mr. Cooper Group makes up approximately 2.7% of Basswood Capital Management L.L.C.'s investment portfolio, making the stock its 9th largest holding. Basswood Capital Management L.L.C. owned about 0.76% of Mr. Cooper Group worth $46,673,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB increased its position in Mr. Cooper Group by 9,175.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 4,916 shares of the company's stock valued at $472,000 after buying an additional 4,863 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Mr. Cooper Group during the fourth quarter valued at about $1,603,000. JPMorgan Chase & Co. raised its position in shares of Mr. Cooper Group by 15.5% in the 4th quarter. JPMorgan Chase & Co. now owns 644,159 shares of the company's stock valued at $61,846,000 after purchasing an additional 86,510 shares during the last quarter. Spire Wealth Management acquired a new stake in Mr. Cooper Group in the 4th quarter worth approximately $1,480,000. Finally, Range Financial Group LLC purchased a new stake in Mr. Cooper Group during the 4th quarter worth approximately $1,091,000. 89.82% of the stock is owned by hedge funds and other institutional investors.

Mr. Cooper Group Trading Down 1.9 %

NASDAQ:COOP traded down $2.31 during trading hours on Friday, reaching $116.68. 749,171 shares of the company were exchanged, compared to its average volume of 580,674. The firm has a market cap of $7.47 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 0.32 and a beta of 1.06. Mr. Cooper Group Inc. has a twelve month low of $78.20 and a twelve month high of $137.60. The stock's 50-day moving average is $112.67 and its 200-day moving average is $103.89.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $2.97 earnings per share for the quarter, beating analysts' consensus estimates of $2.81 by $0.16. Mr. Cooper Group had a net margin of 30.07% and a return on equity of 14.76%. The firm had revenue of $560.00 million for the quarter, compared to analyst estimates of $620.57 million. During the same period last year, the company posted $2.73 EPS. Mr. Cooper Group's quarterly revenue was down .7% compared to the same quarter last year. As a group, research analysts anticipate that Mr. Cooper Group Inc. will post 13.17 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on COOP. Citizens Jmp lowered shares of Mr. Cooper Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 1st. UBS Group lifted their target price on Mr. Cooper Group from $135.00 to $145.00 and gave the stock a "buy" rating in a report on Wednesday, April 16th. Piper Sandler downgraded shares of Mr. Cooper Group from an "overweight" rating to a "neutral" rating and increased their price target for the stock from $125.00 to $143.00 in a report on Friday, April 4th. Keefe, Bruyette & Woods raised their price target on shares of Mr. Cooper Group from $115.00 to $143.00 and gave the stock a "market perform" rating in a research report on Tuesday, April 8th. Finally, JMP Securities reissued a "market outperform" rating and issued a $115.00 price objective on shares of Mr. Cooper Group in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $131.14.

Insider Transactions at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $112.24, for a total value of $3,367,200.00. Following the completion of the sale, the chief executive officer now directly owns 698,821 shares in the company, valued at $78,435,669.04. This represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.73% of the company's stock.

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.