Man Group plc Trims Position in Mr. Cooper Group Inc. (NASDAQ:COOP)

Man Group plc trimmed its holdings in shares of Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) by 43.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,884 shares of the company's stock after selling 10,546 shares during the period. Man Group plc's holdings in Mr. Cooper Group were worth $1,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Picton Mahoney Asset Management lifted its holdings in shares of Mr. Cooper Group by 41.3% in the 4th quarter. Picton Mahoney Asset Management now owns 325 shares of the company's stock valued at $31,000 after purchasing an additional 95 shares during the last quarter. Asset Planning Inc purchased a new stake in shares of Mr. Cooper Group in the 4th quarter valued at about $48,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Mr. Cooper Group in the 4th quarter valued at about $70,000. Covestor Ltd lifted its holdings in shares of Mr. Cooper Group by 418.9% in the 4th quarter. Covestor Ltd now owns 742 shares of the company's stock valued at $71,000 after purchasing an additional 599 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Mr. Cooper Group by 38.8% in the 4th quarter. Blue Trust Inc. now owns 794 shares of the company's stock valued at $76,000 after purchasing an additional 222 shares during the last quarter. 89.82% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on COOP. JMP Securities restated a "market outperform" rating and issued a $115.00 price target on shares of Mr. Cooper Group in a research report on Thursday, February 13th. UBS Group boosted their price target on 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 boosted their price target on Mr. Cooper Group from $130.00 to $147.00 and gave the company an "overweight" rating in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods boosted their price target on Mr. Cooper Group from $115.00 to $143.00 and gave the company a "market perform" rating in a research report on Tuesday, April 8th. Finally, Piper Sandler cut Mr. Cooper Group from an "overweight" rating to a "neutral" rating and boosted their price target for the company from $125.00 to $143.00 in a research report on Friday, April 4th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $131.14.

Mr. Cooper Group Price Performance

NASDAQ COOP traded up $0.18 on Thursday, hitting $131.32. 125,399 shares of the company's stock were exchanged, compared to its average volume of 613,564. The firm's 50-day moving average price is $119.44 and its two-hundred day moving average price is $107.37. Mr. Cooper Group Inc. has a fifty-two week low of $78.20 and a fifty-two week high of $138.35. The firm has a market cap of $8.40 billion, a price-to-earnings ratio of 12.90, a P/E/G ratio of 0.32 and a beta of 1.06.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $2.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.16. The company had revenue of $560.00 million for the quarter, compared to analysts' expectations of $620.57 million. Mr. Cooper Group had a return on equity of 14.76% and a net margin of 30.07%. The firm's quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.73 EPS. On average, research analysts predict that Mr. Cooper Group Inc. will post 13.17 earnings per share for the current fiscal year.

Insider Transactions at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $112.24, for a total transaction of $3,367,200.00. Following the sale, the chief executive officer now owns 698,821 shares of the company's stock, valued at $78,435,669.04. The trade was a 4.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.73% of the company's stock.

Mr. Cooper Group 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.