Mr. Cooper Group Inc $COOP Shares Sold by Dakota Wealth Management

Key Points

• Dakota Wealth Management reduced its position in Mr. Cooper Group Inc by 57.0%, now holding 8,838 shares valued at $1,319,000 after selling 11,714 shares in the second quarter.
• CEO Jesse K. Bray sold 30,000 shares for approximately $5.47 million, reducing his ownership of the company stock by 4.52%.
• Mr. Cooper Group Inc announced a special $0.01 per share dividend, payable on October 7th to shareholders of record on September 29th.

Dakota Wealth Management cut its position in shares of Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 57.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,838 shares of the company's stock after selling 11,714 shares during the period. Dakota Wealth Management's holdings in Mr. Cooper Group were worth $1,319,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. boosted its holdings in 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 buying an additional 213,167 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in 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 valued at $126,438,000 after purchasing an additional 129,414 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Mr. Cooper Group by 2.1% during the first quarter. Principal Financial Group Inc. now owns 371,551 shares of the company's stock valued at $44,437,000 after purchasing an additional 7,799 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Mr. Cooper Group by 14,148.0% during the first quarter. GAMMA Investing LLC now owns 311,319 shares of the company's stock valued at $37,234,000 after purchasing an additional 309,134 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in Mr. Cooper Group by 42.4% during the first quarter. Public Sector Pension Investment Board now owns 227,117 shares of the company's stock valued at $27,163,000 after purchasing an additional 67,657 shares in the last quarter. 89.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction dated Tuesday, September 2nd. The shares were 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 directly owned 633,187 shares in the company, valued at $115,512,304.41. This trade represents a 4.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 90,000 shares of company stock worth $15,278,700 in the last ninety days. 1.73% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on COOP shares. UBS Group set a $176.00 price objective on shares of Mr. Cooper Group in a report on Tuesday, August 5th. Piper Sandler raised 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. Barclays raised 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. Finally, Jefferies Financial Group raised 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. Four equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $140.38.

Mr. Cooper Group Trading Up 2.3%

Mr. Cooper Group stock opened at $212.26 on Friday. Mr. Cooper Group Inc has a 12-month low of $84.68 and a 12-month high of $234.73. The stock has a market cap of $13.58 billion, a P/E ratio of 24.29 and a beta of 0.98. The company has a 50-day moving average price of $192.25 and a 200 day moving average price of $149.88.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last released its quarterly earnings data 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). Mr. Cooper Group had a return on equity of 15.66% and a net margin of 25.38%.The firm had revenue of $608.00 million for the quarter, compared to analyst estimates of $669.23 million. During the same quarter in the previous year, the business posted $3.10 earnings per share. Mr. Cooper Group's revenue for the quarter was up 8.6% on a year-over-year basis. As a group, analysts forecast that Mr. Cooper Group Inc will post 13.17 EPS for the current year.

Mr. Cooper Group Announces Dividend

The business also recently declared a special dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Monday, September 29th will be given a dividend of $0.01 per share. The ex-dividend date is Monday, September 29th.

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.

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