Vanguard Group Inc. Lowers Holdings in Mr. Cooper Group Inc (NASDAQ:COOP)

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. reduced its position in Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 7.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,888,316 shares of the company's stock after selling 548,971 shares during the period. Vanguard Group Inc. owned about 10.77% of Mr. Cooper Group worth $823,843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. US Bancorp DE lifted its stake in shares of Mr. Cooper Group by 11.7% in the 1st quarter. US Bancorp DE now owns 4,073 shares of the company's stock valued at $487,000 after purchasing an additional 428 shares during the period. Alpine Associates Management Inc. acquired a new position in shares of Mr. Cooper Group in the 1st quarter valued at $10,716,000. Natixis Advisors LLC raised its position in Mr. Cooper Group by 9.6% during the first quarter. Natixis Advisors LLC now owns 23,956 shares of the company's stock worth $2,865,000 after acquiring an additional 2,093 shares during the period. Vestcor Inc acquired a new position in Mr. Cooper Group during the first quarter worth $195,000. Finally, Harvest Fund Management Co. Ltd raised its position in Mr. Cooper Group by 234.5% during the first quarter. Harvest Fund Management Co. Ltd now owns 1,495 shares of the company's stock worth $179,000 after acquiring an additional 1,048 shares during the period. 89.82% of the stock is currently owned by institutional investors and hedge funds.

Mr. Cooper Group Price Performance

Shares of COOP traded down $9.26 during mid-day trading on Thursday, reaching $193.60. The stock had a trading volume of 823,541 shares, compared to its average volume of 1,001,587. Mr. Cooper Group Inc has a 52-week low of $84.15 and a 52-week high of $203.42. The business's fifty day moving average is $155.78 and its 200 day moving average is $128.72. The firm has a market cap of $12.39 billion, a price-to-earnings ratio of 22.15 and a beta of 0.98.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $3.13 earnings per share for the quarter, missing the consensus estimate of $3.28 by ($0.15). The company 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 quarterly revenue was up 8.6% compared to the same quarter last year. During the same period last year, the business earned $3.10 EPS. As a group, sell-side analysts anticipate that Mr. Cooper Group Inc will post 13.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other Mr. Cooper Group 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 owned 663,187 shares of the company's stock, valued at $115,872,032.64. This trade represents a 4.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.73% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Barclays upped their price objective 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. UBS Group set a $176.00 price objective on shares of Mr. Cooper Group in a research report on Tuesday, August 5th. Jefferies Financial Group upped their price objective 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, Piper Sandler upped their price objective 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. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $140.38.

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.