KLP Kapitalforvaltning AS Sells 3,400 Shares of Mr. Cooper Group Inc (NASDAQ:COOP)

Key Points

• KLP Kapitalforvaltning AS has reduced its stake in Mr. Cooper Group Inc by 20.4%, selling 3,400 shares, resulting in a total ownership of 13,300 shares valued at approximately $1.59 million.
• Mr. Cooper Group's stock experienced a 0.5% increase, with current trading at $157.13 and a market capitalization of $10.05 billion.
• The company's most recent earnings report revealed an EPS of $3.13, missing analyst estimates, with revenue of $608 million compared to expectations of $669.23 million.

KLP Kapitalforvaltning AS reduced its stake in shares of Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 20.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,300 shares of the company's stock after selling 3,400 shares during the period. KLP Kapitalforvaltning AS's holdings in Mr. Cooper Group were worth $1,591,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Invesco Ltd. lifted its holdings in shares of Mr. Cooper Group by 5.2% during the 4th quarter. Invesco Ltd. now owns 1,800,369 shares of the company's stock worth $172,853,000 after acquiring an additional 89,544 shares during the period. Wellington Management Group LLP raised its holdings in Mr. Cooper Group by 43.1% in the fourth quarter. Wellington Management Group LLP now owns 1,138,904 shares of the company's stock valued at $109,346,000 after buying an additional 343,243 shares during the period. Assenagon Asset Management S.A. raised its holdings in Mr. Cooper Group by 13.9% in 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 period. Price T Rowe Associates Inc. MD raised its holdings in Mr. Cooper Group by 16.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 871,902 shares of the company's stock valued at $83,712,000 after buying an additional 125,897 shares during the period. Finally, Northern Trust Corp raised its holdings in Mr. Cooper Group by 6.8% in the fourth quarter. Northern Trust Corp now owns 835,369 shares of the company's stock valued at $80,204,000 after buying an additional 53,534 shares during the period. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

Mr. Cooper Group Stock Performance

COOP traded up $1.35 during trading on Tuesday, reaching $159.67. The company had a trading volume of 449,691 shares, compared to its average volume of 994,940. The firm's 50-day simple moving average is $144.15 and its 200 day simple moving average is $122.61. The company has a market cap of $10.22 billion, a price-to-earnings ratio of 18.27 and a beta of 1.05. Mr. Cooper Group Inc has a 12-month low of $80.35 and a 12-month high of $178.89.

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 analysts' consensus estimates of $3.28 by ($0.15). Mr. Cooper Group had a return on equity of 15.66% and a net margin of 25.38%. The company had revenue of $608.00 million during the quarter, compared to analysts' expectations of $669.23 million. During the same period in the prior year, the business posted $3.10 EPS. The company's revenue for the quarter was up 8.6% compared to the same quarter last year. On average, sell-side analysts expect that Mr. Cooper Group Inc will post 13.17 EPS for the current year.

Insiders Place Their Bets

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction dated 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 transaction, the chief executive officer owned 693,187 shares of the company's stock, valued at $105,461,470.18. The trade was a 4.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.33% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Citizens Jmp lowered shares of Mr. Cooper Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 1st. Barclays raised their price target on shares of Mr. Cooper Group from $147.00 to $156.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods raised their price target on shares of Mr. Cooper Group from $115.00 to $143.00 and gave the company a "market perform" rating in a report on Tuesday, April 8th. Jefferies Financial Group lifted 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, UBS Group reiterated a "neutral" rating and set a $156.00 price objective on shares of Mr. Cooper Group in a research note on Tuesday, July 15th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $137.88.

Mr. Cooper Group 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.