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 trimmed its holdings in Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 27.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,655 shares of the company's stock after selling 19,792 shares during the quarter. AQR Capital Management LLC owned 0.08% of Mr. Cooper Group worth $6,178,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of COOP. Park Avenue Securities LLC acquired a new stake in Mr. Cooper Group during the 1st quarter worth about $1,684,000. Natixis Advisors LLC raised its holdings in Mr. Cooper Group by 9.6% during the 1st quarter. Natixis Advisors LLC now owns 23,956 shares of the company's stock worth $2,865,000 after buying an additional 2,093 shares during the period. Independent Advisor Alliance acquired a new stake in Mr. Cooper Group during the 1st quarter worth about $229,000. Assenagon Asset Management S.A. raised its holdings in Mr. Cooper Group by 13.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,057,176 shares of the company's stock worth $126,438,000 after buying an additional 129,414 shares during the period. Finally, Jefferies Financial Group Inc. acquired a new stake in Mr. Cooper Group during the 4th quarter worth about $394,000. 89.82% of the stock is owned by institutional investors and hedge funds.

Mr. Cooper Group Stock Performance

Shares of NASDAQ COOP traded down $0.98 during trading hours on Thursday, hitting $219.92. The stock had a trading volume of 551,451 shares, compared to its average volume of 742,198. The company has a market capitalization of $14.07 billion, a P/E ratio of 25.16 and a beta of 0.98. The firm's 50-day moving average price is $184.47 and its two-hundred day moving average price is $145.44. Mr. Cooper Group Inc has a 52 week low of $84.68 and a 52 week high of $234.73.

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

Insider Buying and Selling 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 value of $5,472,900.00. Following the completion of the sale, the chief executive officer directly owned 633,187 shares in the company, valued at approximately $115,512,304.41. The trade was a 4.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 90,000 shares of company stock valued at $15,278,700 in the last ninety days. 1.73% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

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.