Mr. Cooper Group Inc (NASDAQ:COOP) Stake Cut by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its holdings in Mr. Cooper Group Inc. by 7.4%, owning approximately 10.77% of the company after selling 548,971 shares in the first quarter.
• Mr. Cooper Group's stock price has increased by 1.6%, with shares opening at $180.27, and a market capitalization of $11.54 billion.
• In its last quarterly earnings report, Mr. Cooper Group missed earnings estimates, reporting $3.13 earnings per share versus a consensus estimate of $3.28.

Vanguard Group Inc. lowered its stake in shares of Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 7.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,888,316 shares of the company's stock after selling 548,971 shares during the quarter. Vanguard Group Inc. owned about 10.77% of Mr. Cooper Group worth $823,843,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. First Horizon Advisors Inc. acquired a new position in shares of Mr. Cooper Group during the 1st quarter valued at about $26,000. Allworth Financial LP increased its stake in shares of Mr. Cooper Group by 24.5% during the 1st quarter. Allworth Financial LP now owns 442 shares of the company's stock valued at $51,000 after acquiring an additional 87 shares during the last quarter. USA Financial Formulas acquired a new position in shares of Mr. Cooper Group during the 1st quarter valued at about $55,000. Kapitalo Investimentos Ltda acquired a new stake in Mr. Cooper Group during the 4th quarter worth approximately $70,000. Finally, Covestor Ltd increased its position in Mr. Cooper Group by 418.9% during the 4th quarter. Covestor Ltd now owns 742 shares of the company's stock worth $71,000 after purchasing an additional 599 shares in the last quarter. Institutional investors and hedge funds own 89.82% of the company's stock.

Insider Buying and Selling at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer owned 663,187 shares of the company's stock, valued at approximately $115,872,032.64. This trade represents a 4.33% 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. Insiders own 1.73% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on COOP. Piper Sandler increased their target price 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. UBS Group set a $176.00 target price on shares of Mr. Cooper Group in a research report on Tuesday, August 5th. Jefferies Financial Group increased their target price 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. Finally, Barclays increased their target price 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. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $140.38.

Mr. Cooper Group Stock Performance

Shares of COOP stock traded down $2.33 during mid-day trading on Friday, reaching $191.27. 704,119 shares of the company were exchanged, compared to its average volume of 1,190,807. Mr. Cooper Group Inc has a fifty-two week low of $84.15 and a fifty-two week high of $203.42. The company has a market capitalization of $12.24 billion, a P/E ratio of 21.88 and a beta of 0.98. The business's 50 day simple moving average is $158.21 and its 200 day simple moving average is $129.91.

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 return on equity of 15.66% and a net margin of 25.38%. The company had revenue of $608.00 million for the quarter, compared to analyst estimates of $669.23 million. During the same period in the previous year, the business posted $3.10 EPS. The firm's quarterly revenue was up 8.6% compared to the same quarter last year. On average, analysts forecast that Mr. Cooper Group Inc will post 13.17 EPS 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.