AQR Capital Management LLC Sells 19,792 Shares of Mr. Cooper Group Inc $COOP

Key Points

• AQR Capital Management LLC sold 19,792 shares of Mr. Cooper Group Inc, reducing its stake by 27.7%, bringing its total ownership to 51,655 shares valued at approximately $6.18 million.
• Multiple hedge funds have increased their holdings in Mr. Cooper Group, with Invesco Ltd. raising its stake by 11.8% and GAMMA Investing LLC by an astonishing 14,148% during the same quarter.
• Analysts have mixed ratings on Mr. Cooper Group, with four firms rating the stock as a Buy and five as a Hold, while the average price target stands at $140.38.

AQR Capital Management LLC lessened its stake in Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 27.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 51,655 shares of the company's stock after selling 19,792 shares during the quarter. AQR Capital Management LLC owned approximately 0.08% of Mr. Cooper Group worth $6,178,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Invesco Ltd. raised its holdings in shares of Mr. Cooper Group by 11.8% in the 1st quarter. Invesco Ltd. now owns 2,013,536 shares of the company's stock worth $240,819,000 after purchasing an additional 213,167 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Mr. Cooper Group by 13.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,057,176 shares of the company's stock worth $126,438,000 after purchasing an additional 129,414 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Mr. Cooper Group by 2.1% in the 1st quarter. Principal Financial Group Inc. now owns 371,551 shares of the company's stock worth $44,437,000 after purchasing an additional 7,799 shares during the period. GAMMA Investing LLC raised its holdings in shares of Mr. Cooper Group by 14,148.0% in the 1st quarter. GAMMA Investing LLC now owns 311,319 shares of the company's stock worth $37,234,000 after purchasing an additional 309,134 shares during the period. Finally, Public Sector Pension Investment Board raised its holdings in shares of Mr. Cooper Group by 42.4% in the 1st quarter. Public Sector Pension Investment Board now owns 227,117 shares of the company's stock worth $27,163,000 after purchasing an additional 67,657 shares during the period. Institutional investors own 89.82% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on COOP. Barclays lifted their price target on shares of Mr. Cooper Group from $147.00 to $156.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Piper Sandler lifted their price objective 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. Jefferies Financial Group lifted their price objective on shares of Mr. Cooper Group from $110.00 to $150.00 and gave the company a "hold" rating in a research note on Tuesday, July 22nd. Finally, UBS Group set a $176.00 price objective on shares of Mr. Cooper Group in a research note on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $140.38.

Mr. Cooper Group Price Performance

COOP opened at $220.35 on Friday. The company has a fifty day moving average price of $178.70 and a 200-day moving average price of $142.47. The firm has a market capitalization of $14.10 billion, a P/E ratio of 25.21 and a beta of 0.98. Mr. Cooper Group Inc has a one year low of $84.68 and a one year high of $234.73.

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

Insider Activity at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were 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 in the company, valued at $115,512,304.41. The trade was a 4.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In 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 insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.