Intech Investment Management LLC Has $11.35 Million Holdings in Mr. Cooper Group Inc $COOP

Key Points

• Intech Investment Management LLC sold 59,801 shares of Mr. Cooper Group Inc, reducing its position by 38.7%, resulting in ownership of 94,921 shares valued at approximately $11.35 million.
• CEO Jesse K. Bray sold 30,000 shares at an average price of $182.43, decreasing ownership by 4.52%, while insiders collectively sold 90,000 shares worth $15.28 million over the last three months.
• Wall Street analysts have mixed ratings on Mr. Cooper Group, with an average rating of "Hold" and a consensus price target of $140.38, as Piper Sandler and UBS Group adjusted their price targets significantly higher.

Intech Investment Management LLC reduced its position in Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 38.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 94,921 shares of the company's stock after selling 59,801 shares during the quarter. Intech Investment Management LLC owned 0.15% of Mr. Cooper Group worth $11,353,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Park Avenue Securities LLC bought a new position in Mr. Cooper Group during the 1st quarter valued at approximately $1,684,000. Natixis Advisors LLC increased its stake in Mr. Cooper Group by 9.6% during the first quarter. Natixis Advisors LLC now owns 23,956 shares of the company's stock worth $2,865,000 after acquiring an additional 2,093 shares during the last quarter. Independent Advisor Alliance bought a new stake in Mr. Cooper Group during the first quarter worth approximately $229,000. Assenagon Asset Management S.A. raised its position 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 acquiring an additional 129,414 shares in the last quarter. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of Mr. Cooper Group during the 4th quarter valued at $394,000. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. UBS Group set a $176.00 target price on Mr. Cooper Group in a research note on Tuesday, August 5th. Piper Sandler lifted their price objective on Mr. Cooper Group from $143.00 to $158.00 and gave the stock a "neutral" rating in a report on Tuesday, July 1st. Jefferies Financial Group raised their target price on shares of Mr. Cooper Group from $110.00 to $150.00 and gave the stock a "hold" rating in a research note on Tuesday, July 22nd. Finally, Barclays lifted 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. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $140.38.

Mr. Cooper Group Price Performance

COOP traded down $6.56 during trading hours on Tuesday, reaching $213.25. 244,212 shares of the stock traded hands, compared to its average volume of 967,446. The company has a market cap of $13.65 billion, a price-to-earnings ratio of 24.49 and a beta of 0.98. Mr. Cooper Group Inc has a fifty-two week low of $84.68 and a fifty-two week high of $234.73. The firm's fifty day simple moving average is $180.21 and its two-hundred day simple moving average is $143.66.

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 the consensus estimate of $3.28 by ($0.15). The business had revenue of $608.00 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the firm posted $3.10 earnings per share. On average, research analysts predict that Mr. Cooper Group Inc will post 13.17 earnings per share for the current year.

Insiders Place Their Bets

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the 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 of the company's stock, valued at $115,512,304.41. This represents a 4.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 90,000 shares of company stock valued at $15,278,700. 1.73% of the stock is owned by corporate 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.