Intech Investment Management LLC Sells 59,801 Shares of 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 lowered its holdings in Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 38.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,921 shares of the company's stock after selling 59,801 shares during the period. Intech Investment Management LLC owned about 0.15% of Mr. Cooper Group worth $11,353,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in COOP. GAMMA Investing LLC boosted its holdings in shares of Mr. Cooper Group by 14,148.0% during the first quarter. GAMMA Investing LLC now owns 311,319 shares of the company's stock worth $37,234,000 after purchasing an additional 309,134 shares during the period. Invesco Ltd. boosted its holdings in shares of Mr. Cooper Group by 11.8% during the first quarter. Invesco Ltd. now owns 2,013,536 shares of the company's stock worth $240,819,000 after purchasing an additional 213,167 shares during the period. Nuveen LLC acquired a new stake in shares of Mr. Cooper Group during the first quarter worth approximately $24,037,000. Assenagon Asset Management S.A. boosted its holdings in shares of 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 worth $126,438,000 after purchasing an additional 129,414 shares during the period. Finally, No Street GP LP boosted its holdings in shares of Mr. Cooper Group by 29.4% during the fourth quarter. No Street GP LP now owns 550,000 shares of the company's stock worth $52,806,000 after purchasing an additional 125,000 shares during the period. Institutional investors and hedge funds own 89.82% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. UBS Group set a $176.00 target price on shares of Mr. Cooper Group in a research report on Tuesday, August 5th. 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 report on Tuesday, July 8th. Piper Sandler upped 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 report on Tuesday, July 1st. Finally, Jefferies Financial Group upped their price target on shares of Mr. Cooper Group from $110.00 to $150.00 and gave the stock a "hold" rating in a research report on Tuesday, July 22nd. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Mr. Cooper Group currently has an average rating of "Hold" and a consensus target price of $140.38.

Insider Transactions at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $182.43, for a total transaction of $5,472,900.00. Following the completion of the sale, the chief executive officer owned 633,187 shares of the company's stock, valued at approximately $115,512,304.41. This trade represents a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders sold 90,000 shares of company stock worth $15,278,700. Company insiders own 1.73% of the company's stock.

Mr. Cooper Group Price Performance

Shares of COOP traded up $0.65 during mid-day trading on Friday, hitting $220.35. 504,969 shares of the company's stock were exchanged, compared to its average volume of 737,687. The company has a market cap of $14.10 billion, a PE ratio of 25.21 and a beta of 0.98. Mr. Cooper Group Inc has a 52 week low of $84.68 and a 52 week high of $234.73. The company has a 50-day simple moving average of $178.70 and a 200 day simple moving average of $142.69.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $3.13 earnings per share for the quarter, missing the consensus estimate of $3.28 by ($0.15). The business had revenue of $608.00 million for 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%.Mr. Cooper Group's revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business earned $3.10 earnings per share. On average, analysts anticipate 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.