VELA Investment Management LLC Cuts Stock Holdings in Mr. Cooper Group Inc (NASDAQ:COOP)

VELA Investment Management LLC lessened its stake in shares of Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 36.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,917 shares of the company's stock after selling 2,229 shares during the quarter. VELA Investment Management LLC's holdings in Mr. Cooper Group were worth $468,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Picton Mahoney Asset Management boosted its position in shares of Mr. Cooper Group by 41.3% during the 4th quarter. Picton Mahoney Asset Management now owns 325 shares of the company's stock worth $31,000 after purchasing an additional 95 shares in the last quarter. Penbrook Management LLC lifted its position in Mr. Cooper Group by 0.6% in the 1st quarter. Penbrook Management LLC now owns 15,825 shares of the company's stock valued at $1,893,000 after acquiring an additional 100 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Mr. Cooper Group by 2.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 4,984 shares of the company's stock worth $479,000 after buying an additional 128 shares in the last quarter. MorganRosel Wealth Management LLC lifted its position in shares of Mr. Cooper Group by 1.2% during the 1st quarter. MorganRosel Wealth Management LLC now owns 13,544 shares of the company's stock worth $1,620,000 after buying an additional 154 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its position in shares of Mr. Cooper Group by 5.6% during the 4th quarter. Quadrant Capital Group LLC now owns 3,468 shares of the company's stock worth $333,000 after buying an additional 184 shares in the last quarter. Institutional investors own 89.82% of the company's stock.

Analysts Set New Price Targets

COOP has been the subject of several research analyst reports. Keefe, Bruyette & Woods raised their price target on shares of Mr. Cooper Group from $115.00 to $143.00 and gave the stock a "market perform" rating in a research note on Tuesday, April 8th. UBS Group boosted their price target on shares of Mr. Cooper Group from $135.00 to $145.00 and gave the company a "buy" rating in a research report on Wednesday, April 16th. Barclays upped their target price on shares of Mr. Cooper Group from $130.00 to $147.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 8th. Citizens Jmp lowered shares of Mr. Cooper Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 1st. Finally, Piper Sandler upped 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. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Mr. Cooper Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $133.29.

Mr. Cooper Group Price Performance

Mr. Cooper Group stock traded down $2.56 during mid-day trading on Friday, hitting $150.95. The company's stock had a trading volume of 824,620 shares, compared to its average volume of 714,357. The stock has a market cap of $9.66 billion, a price-to-earnings ratio of 17.15, a price-to-earnings-growth ratio of 0.44 and a beta of 1.05. The business has a 50 day moving average price of $134.19 and a 200-day moving average price of $115.76. Mr. Cooper Group Inc has a 12 month low of $78.20 and a 12 month high of $158.00.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $2.97 EPS for the quarter, beating the consensus estimate of $2.81 by $0.16. The firm had revenue of $560.00 million during the quarter, compared to the consensus estimate of $620.57 million. Mr. Cooper Group had a net margin of 25.93% and a return on equity of 15.27%. The company's quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.73 earnings per share. On average, equities research analysts expect that Mr. Cooper Group Inc will post 13.17 earnings per share for the current fiscal year.

Insider Activity at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $152.14, for a total transaction of $4,564,200.00. Following the completion of the transaction, the chief executive officer directly owned 693,187 shares of the company's stock, valued at approximately $105,461,470.18. This represents a 4.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.73% of the company's stock.

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.