Charles Schwab Investment Management Inc. Lowers Position in Mr. Cooper Group Inc (NASDAQ:COOP)

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Mr. Cooper Group Inc by 2.9%, selling 26,396 shares during the 1st quarter, leaving it with approximately 1.39% ownership worth $106.4 million.
• CEO Jesse K. Bray sold 30,000 shares on August 1st, resulting in a total transaction value of over $5.24 million, and a decrease in his ownership by 4.33%.
• Mr. Cooper Group reported earnings of $3.13 per share for the last quarter, missing analysts' expectations, with revenue reaching $608 million, below estimates of $669 million.

Charles Schwab Investment Management Inc. cut its position in shares of Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 2.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 889,916 shares of the company's stock after selling 26,396 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.39% of Mr. Cooper Group worth $106,434,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in COOP. First Horizon Advisors Inc. purchased a new position in Mr. Cooper Group in the first quarter valued at about $26,000. Allworth Financial LP increased its holdings in shares of 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 during the last quarter. USA Financial Formulas bought a new position in shares of Mr. Cooper Group in the 1st quarter worth $55,000. Kapitalo Investimentos Ltda bought a new position in shares of Mr. Cooper Group in the 4th quarter worth $70,000. Finally, Covestor Ltd boosted its stake in shares of Mr. Cooper Group by 418.9% in the 4th quarter. Covestor Ltd now owns 742 shares of the company's stock valued at $71,000 after purchasing an additional 599 shares in the last quarter. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the company's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $174.72, for a total value of $5,241,600.00. Following the transaction, the chief executive officer directly owned 663,187 shares in the company, valued at approximately $115,872,032.64. This represents a 4.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.73% of the company's stock.

Analyst Upgrades and Downgrades

COOP has been the subject of several analyst reports. Barclays increased their price target on shares of Mr. Cooper Group from $147.00 to $156.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. UBS Group set a $176.00 price target on shares of Mr. Cooper Group in a research note on Tuesday, August 5th. Jefferies Financial Group raised 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, Piper Sandler lifted their price target on shares of Mr. Cooper Group from $143.00 to $158.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 1st. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $140.38.

Mr. Cooper Group Stock Performance

COOP stock traded down $9.26 during mid-day trading on Thursday, reaching $193.60. 823,541 shares of the stock traded hands, compared to its average volume of 1,001,587. Mr. Cooper Group Inc has a one year low of $84.15 and a one year high of $203.42. The stock has a market capitalization of $12.39 billion, a PE ratio of 22.15 and a beta of 0.98. The business has a 50-day moving average price of $155.78 and a two-hundred day moving average price of $128.72.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last posted 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 company had revenue of $608.00 million during the quarter, compared to the consensus estimate of $669.23 million. Mr. Cooper Group had a return on equity of 15.66% and a net margin of 25.38%. The company's revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.10 earnings per share. On average, equities analysts expect that Mr. Cooper Group Inc will post 13.17 earnings per share for the current fiscal 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.