Dimensional Fund Advisors LP Sells 31,460 Shares of Mr. Cooper Group Inc $COOP

Key Points

• Dimensional Fund Advisors LP reduced its stake in Mr. Cooper Group by 1.5%, holding approximately $250.68 million worth of the company's stock as of the end of the last quarter.
• Mr. Cooper Group reported a miss in earnings with an EPS of $3.13, below analysts' consensus estimate of $3.28, despite an 8.6% year-over-year revenue increase.
• Multiple analysts have adjusted their price targets for Mr. Cooper Group, with Jefferies raising their target from $110 to $150, indicating a generally positive outlook among several institutional investors who own nearly 90% of the stock.

Dimensional Fund Advisors LP cut its position in Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 1.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,096,704 shares of the company's stock after selling 31,460 shares during the period. Dimensional Fund Advisors LP owned about 3.28% of Mr. Cooper Group worth $250,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of COOP. First Horizon Advisors Inc. purchased a new stake in shares of Mr. Cooper Group in the first quarter worth $26,000. Allworth Financial LP grew its stake in Mr. Cooper Group by 24.5% during the first quarter. Allworth Financial LP now owns 442 shares of the company's stock valued at $51,000 after acquiring an additional 87 shares in the last quarter. USA Financial Formulas purchased a new position in Mr. Cooper Group during the first quarter valued at $55,000. Kapitalo Investimentos Ltda purchased a new position in Mr. Cooper Group during the fourth quarter valued at $70,000. Finally, CWM LLC grew its stake in Mr. Cooper Group by 20.7% during the first quarter. CWM LLC now owns 781 shares of the company's stock valued at $93,000 after acquiring an additional 134 shares in the last quarter. 89.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on COOP. Barclays raised 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. Jefferies Financial Group raised their target price 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. UBS Group set a $176.00 target price on shares of Mr. Cooper Group in a research note on Tuesday, August 5th. Finally, Piper Sandler raised 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 equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $140.38.

Mr. Cooper Group Stock Performance

COOP stock traded up $15.55 during trading on Friday, hitting $198.98. 1,040,094 shares of the company's stock traded hands, compared to its average volume of 887,285. Mr. Cooper Group Inc has a 52 week low of $84.15 and a 52 week high of $203.42. The business has a fifty day simple moving average of $163.10 and a 200 day simple moving average of $133.01. The stock has a market capitalization of $12.73 billion, a price-to-earnings ratio of 22.77 and a beta of 0.98.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $3.13 EPS 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 last year, the business earned $3.10 EPS. Mr. Cooper Group's revenue for the quarter was up 8.6% compared to the same quarter last year. Research analysts forecast that Mr. Cooper Group Inc will post 13.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction on Friday, August 1st. The shares were sold at an average price of $174.72, for a total transaction of $5,241,600.00. Following the completion of the transaction, the chief executive officer owned 663,187 shares in the company, valued at $115,872,032.64. This trade represents a 4.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.73% of the stock is owned by company insiders.

About Mr. Cooper Group

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.