American Century Companies Inc. Cuts Stock Holdings in Mr. Cooper Group Inc $COOP

Key Points

• American Century Companies Inc has reduced its stake in Mr. Cooper Group Inc by 16.7%, now holding 30,569 shares worth approximately $3.66 million.
• Mr. Cooper Group's CEO, Jesse K. Bray, sold 30,000 shares for over $5.24 million, decreasing his ownership by 4.33%.
• Analyst ratings for Mr. Cooper Group are mixed, with four analysts recommending a Buy rating and five a Hold rating, leading to a consensus price target of $140.38.

American Century Companies Inc. lessened its holdings in Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 16.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,569 shares of the company's stock after selling 6,144 shares during the period. American Century Companies Inc.'s holdings in Mr. Cooper Group were worth $3,656,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC lifted its position in shares of Mr. Cooper Group by 24.4% during the 4th quarter. Integrated Wealth Concepts LLC now owns 3,779 shares of the company's stock worth $363,000 after purchasing an additional 742 shares during the last quarter. Northern Trust Corp lifted its position in shares of Mr. Cooper Group by 6.8% during the 4th quarter. Northern Trust Corp now owns 835,369 shares of the company's stock worth $80,204,000 after purchasing an additional 53,534 shares during the last quarter. Lido Advisors LLC lifted its position in shares of Mr. Cooper Group by 28.0% during the 4th quarter. Lido Advisors LLC now owns 3,247 shares of the company's stock worth $312,000 after purchasing an additional 711 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of Mr. Cooper Group by 13.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 9,462 shares of the company's stock worth $908,000 after purchasing an additional 1,140 shares during the last quarter. Finally, Aristeia Capital L.L.C. purchased a new stake in shares of Mr. Cooper Group during the 4th quarter worth $348,000. Hedge funds and other institutional investors own 89.82% of the company's stock.

Insider Transactions at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction dated 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 directly owned 663,187 shares of the company's stock, valued at $115,872,032.64. This represents a 4.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.73% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

Mr. Cooper Group Stock Performance

NASDAQ COOP traded up $10.35 during trading on Thursday, reaching $199.59. The company's stock had a trading volume of 312,770 shares, compared to its average volume of 976,868. The firm has a market cap of $12.77 billion, a price-to-earnings ratio of 22.88 and a beta of 0.98. Mr. Cooper Group Inc has a twelve month low of $84.15 and a twelve month high of $203.42. The business's fifty day moving average price is $169.77 and its 200-day moving average price is $137.37.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $3.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.28 by ($0.15). The firm had revenue of $608.00 million for the quarter, compared to analysts' expectations of $669.23 million. Mr. Cooper Group had a return on equity of 15.66% and a net margin of 25.38%.The company's revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the company earned $3.10 earnings per share. As a group, sell-side analysts forecast that Mr. Cooper Group Inc will post 13.17 EPS for the current fiscal 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.