Cambridge Investment Research Advisors Inc. Reduces Position in Mr. Cooper Group Inc (NASDAQ:COOP)

Cambridge Investment Research Advisors Inc. lowered its position in Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 32.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,807 shares of the company's stock after selling 2,283 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Mr. Cooper Group were worth $575,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. KLP Kapitalforvaltning AS purchased a new position in shares of Mr. Cooper Group during the fourth quarter valued at approximately $1,603,000. Park Avenue Securities LLC bought a new position in Mr. Cooper Group during the 1st quarter valued at approximately $1,684,000. Assenagon Asset Management S.A. raised its stake in Mr. Cooper Group by 13.9% during the first quarter. Assenagon Asset Management S.A. now owns 1,057,176 shares of the company's stock valued at $126,438,000 after buying an additional 129,414 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in Mr. Cooper Group in the fourth quarter worth $394,000. Finally, JPMorgan Chase & Co. grew its stake in shares of Mr. Cooper Group by 15.5% in the fourth quarter. JPMorgan Chase & Co. now owns 644,159 shares of the company's stock worth $61,846,000 after acquiring an additional 86,510 shares during the last quarter. Hedge funds and other institutional investors own 89.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Barclays upped their price target on shares of Mr. Cooper Group from $147.00 to $156.00 and gave the stock an "overweight" rating in a research note on Tuesday. Piper Sandler increased their price target on shares of Mr. Cooper Group from $143.00 to $158.00 and gave the company a "neutral" rating in a report on Tuesday, July 1st. 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 increased their target price on Mr. Cooper Group from $135.00 to $145.00 and gave the company a "buy" rating in a research note on Wednesday, April 16th. Finally, Keefe, Bruyette & Woods increased their target price on Mr. Cooper Group from $115.00 to $143.00 and gave the company a "market perform" rating in a report on Tuesday, April 8th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $134.57.

Insider Activity at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $152.14, for a total transaction of $4,564,200.00. Following the completion of the transaction, the chief executive officer directly owned 693,187 shares in the company, valued at $105,461,470.18. This trade represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.73% of the stock is currently owned by company insiders.

Mr. Cooper Group Trading Down 0.5%

Shares of NASDAQ COOP traded down $0.69 during midday trading on Thursday, reaching $148.36. The company had a trading volume of 1,220,752 shares, compared to its average volume of 725,434. The business's 50-day simple moving average is $136.48 and its 200 day simple moving average is $117.22. The stock has a market cap of $9.49 billion, a P/E ratio of 16.86, a P/E/G ratio of 0.43 and a beta of 1.05. Mr. Cooper Group Inc has a 1 year low of $80.35 and a 1 year high of $158.00.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.16. The business had revenue of $560.00 million for the quarter, compared to analyst estimates of $620.57 million. Mr. Cooper Group had a net margin of 25.93% and a return on equity of 15.27%. The company's revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter last year, the business earned $2.73 earnings per share. Analysts predict that Mr. Cooper Group Inc will post 13.17 earnings per share for the current year.

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.