Maryland State Retirement & Pension System Has $2.23 Million Holdings in Mr. Cooper Group Inc (NASDAQ:COOP)

Key Points

• Maryland State Retirement & Pension System reduced its stake in Mr. Cooper Group by 13.8%, selling 2,973 shares and now holds 18,638 shares valued at approximately $2.23 million.
• CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group for over $5.24 million, resulting in a 4.33% decrease in his ownership.
• The stock price of Mr. Cooper Group is currently down 4.6% and has a market cap of $11.35 billion, with analysts predicting a consensus target price around $140.38.

Maryland State Retirement & Pension System lessened its stake in shares of Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 13.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,638 shares of the company's stock after selling 2,973 shares during the quarter. Maryland State Retirement & Pension System's holdings in Mr. Cooper Group were worth $2,229,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in COOP. First Horizon Advisors Inc. acquired a new position in Mr. Cooper Group during the first quarter worth $26,000. Allworth Financial LP lifted its position in Mr. Cooper Group by 24.5% during the first quarter. Allworth Financial LP now owns 442 shares of the company's stock worth $51,000 after buying an additional 87 shares during the period. USA Financial Formulas acquired a new stake in shares of Mr. Cooper Group in the first quarter valued at about $55,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Mr. Cooper Group in the fourth quarter valued at about $70,000. Finally, Covestor Ltd grew its stake in shares of Mr. Cooper Group by 418.9% in the fourth quarter. Covestor Ltd now owns 742 shares of the company's stock valued at $71,000 after buying an additional 599 shares in the last quarter. Institutional investors and hedge funds own 89.82% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on COOP. Barclays lifted 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 note on Tuesday, July 8th. 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. UBS Group set a $176.00 price target on shares of Mr. Cooper Group in a research note on Tuesday, August 5th. Finally, Jefferies Financial Group lifted 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 note on Tuesday, July 22nd. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Mr. Cooper Group currently has an average rating of "Hold" and a consensus target price of $140.38.

Insiders Place Their Bets

In related news, CEO Jesse K. Bray sold 30,000 shares of the firm's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $174.72, for a total transaction of $5,241,600.00. Following the completion of the sale, the chief executive officer directly owned 663,187 shares of the company's stock, valued at $115,872,032.64. This trade represents a 4.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.33% of the stock is owned by corporate insiders.

Mr. Cooper Group Stock Up 1.6%

COOP stock traded up $2.92 during midday trading on Monday, reaching $180.27. 799,579 shares of the company's stock traded hands, compared to its average volume of 1,001,324. The company has a 50-day simple moving average of $152.09 and a two-hundred day simple moving average of $127.23. Mr. Cooper Group Inc has a 1-year low of $84.15 and a 1-year high of $193.86. The company has a market cap of $11.54 billion, a price-to-earnings ratio of 20.63 and a beta of 0.98.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last released 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 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 analyst estimates of $669.23 million. During the same period in the prior year, the business earned $3.10 earnings per share. The company's revenue for the quarter was up 8.6% on a year-over-year basis. Equities research analysts forecast that Mr. Cooper Group Inc will post 13.17 EPS for the current year.

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.