Mr. Cooper Group Inc $COOP Stake Reduced by Amundi

Key Points

• Amundi has significantly reduced its stake in Mr. Cooper Group Inc, decreasing its holdings by 63.5% in the first quarter, now owning just 25,559 shares worth approximately $3.06 million.
• Analysts have set varying price targets for Mr. Cooper Group, with a consensus price target of $140.38 and a majority rating of "Hold."
• CEO Jesse K. Bray sold 30,000 shares at an average price of $182.43, resulting in a transaction worth over $5.47 million, reducing his ownership by 4.52%.

Amundi lowered its position in Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 63.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,559 shares of the company's stock after selling 44,415 shares during the quarter. Amundi's holdings in Mr. Cooper Group were worth $3,057,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in COOP. Allworth Financial LP lifted its holdings in Mr. Cooper Group by 24.5% in the 1st quarter. Allworth Financial LP now owns 442 shares of the company's stock worth $51,000 after buying an additional 87 shares in the last quarter. Sage Rhino Capital LLC lifted its stake in shares of Mr. Cooper Group by 4.7% in the first quarter. Sage Rhino Capital LLC now owns 2,187 shares of the company's stock worth $262,000 after acquiring an additional 98 shares in the last quarter. Penbrook Management LLC lifted its stake in shares of Mr. Cooper Group by 0.6% in the first quarter. Penbrook Management LLC now owns 15,825 shares of the company's stock worth $1,893,000 after acquiring an additional 100 shares in the last quarter. CWM LLC raised its position in shares of Mr. Cooper Group by 20.7% in the 1st quarter. CWM LLC now owns 781 shares of the company's stock valued at $93,000 after purchasing an additional 134 shares in the last quarter. Finally, MorganRosel Wealth Management LLC raised its position in shares of Mr. Cooper Group by 1.2% in the 1st quarter. MorganRosel Wealth Management LLC now owns 13,544 shares of the company's stock valued at $1,620,000 after purchasing an additional 154 shares in the last quarter. Institutional investors and hedge funds own 89.82% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on COOP shares. UBS Group set a $176.00 target price on Mr. Cooper Group in a research report on Tuesday, August 5th. Jefferies Financial Group boosted their target price on shares of Mr. Cooper Group from $110.00 to $150.00 and gave the stock a "hold" rating in a research report on Tuesday, July 22nd. Barclays upped their target price on shares of Mr. Cooper Group from $147.00 to $156.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Finally, Piper Sandler upped their target price on shares of Mr. Cooper Group from $143.00 to $158.00 and gave the company a "neutral" rating in a research note on Tuesday, July 1st. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $140.38.

Insider Buying and Selling 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 Tuesday, September 2nd. The stock was sold at an average price of $182.43, for a total transaction of $5,472,900.00. Following the completion of the transaction, the chief executive officer directly owned 633,187 shares of the company's stock, valued at approximately $115,512,304.41. This represents a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 90,000 shares of company stock worth $15,278,700. 1.73% of the stock is owned by corporate insiders.

Mr. Cooper Group Trading Up 2.2%

Mr. Cooper Group stock traded up $4.68 during mid-day trading on Wednesday, reaching $220.90. The company's stock had a trading volume of 810,211 shares, compared to its average volume of 727,424. Mr. Cooper Group Inc has a twelve month low of $84.68 and a twelve month high of $234.73. The business has a 50 day moving average price of $183.04 and a 200-day moving average price of $144.69. The firm has a market cap of $14.14 billion, a price-to-earnings ratio of 25.27 and a beta of 0.98.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $3.13 earnings per share for the quarter, missing the consensus estimate of $3.28 by ($0.15). Mr. Cooper Group had a net margin of 25.38% and a return on equity of 15.66%. The business had revenue of $608.00 million for the quarter, compared to the consensus estimate of $669.23 million. During the same quarter in the previous year, the firm earned $3.10 EPS. The firm's revenue for the quarter was up 8.6% on a year-over-year basis. On average, equities analysts expect that Mr. Cooper Group Inc will post 13.17 EPS for the current fiscal year.

Mr. Cooper Group 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.