Persistent Asset Partners Ltd Cuts Position in Mr. Cooper Group Inc (NASDAQ:COOP)

Key Points

• Persistent Asset Partners Ltd reduced its stake in Mr. Cooper Group Inc by 57.3%, owning 2,388 shares after selling 3,205 shares.
• CEO Jesse K. Bray sold 30,000 shares of the company for approximately $5.24 million, resulting in a 4.33% decrease in his personal holdings.
• Mr. Cooper Group reported a quarterly EPS of $3.13, missing analyst estimates of $3.28, while revenues were $608 million, below the anticipated $669.23 million.

Persistent Asset Partners Ltd cut its holdings in shares of Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 57.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,388 shares of the company's stock after selling 3,205 shares during the period. Persistent Asset Partners Ltd's holdings in Mr. Cooper Group were worth $286,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Invesco Ltd. lifted its holdings in shares of Mr. Cooper Group by 11.8% during the first quarter. Invesco Ltd. now owns 2,013,536 shares of the company's stock valued at $240,819,000 after purchasing an additional 213,167 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of 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 worth $126,438,000 after purchasing an additional 129,414 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Mr. Cooper Group by 16.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 871,902 shares of the company's stock valued at $83,712,000 after buying an additional 125,897 shares in the last quarter. Northern Trust Corp grew its holdings in Mr. Cooper Group by 6.8% during the 4th quarter. Northern Trust Corp now owns 835,369 shares of the company's stock valued at $80,204,000 after buying an additional 53,534 shares in the last quarter. Finally, Cercano Management LLC lifted its stake in shares of Mr. Cooper Group by 66.5% in the 4th quarter. Cercano Management LLC now owns 790,753 shares of the company's stock valued at $75,920,000 after purchasing an additional 315,801 shares during the last quarter. 89.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group 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 sale, the chief executive officer directly owned 663,187 shares in the company, valued at $115,872,032.64. This trade represents a 4.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.33% of the stock is currently owned by corporate insiders.

Mr. Cooper Group Trading Up 1.6%

Shares of COOP stock opened at $180.27 on Tuesday. The firm has a market capitalization of $11.54 billion, a price-to-earnings ratio of 20.63 and a beta of 0.98. Mr. Cooper Group Inc has a 1 year low of $84.15 and a 1 year high of $193.86. The firm's 50 day moving average is $153.12 and its 200-day moving average is $127.76.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $3.13 EPS for the quarter, missing analysts' consensus estimates of $3.28 by ($0.15). The business had revenue of $608.00 million for the quarter, compared to the consensus estimate of $669.23 million. Mr. Cooper Group had a return on equity of 15.66% and a net margin of 25.38%. Mr. Cooper Group's revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business posted $3.10 earnings per share. On average, equities research analysts forecast that Mr. Cooper Group Inc will post 13.17 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on COOP shares. Barclays raised their price target on Mr. Cooper Group from $147.00 to $156.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. UBS Group set a $176.00 price objective on Mr. Cooper Group in a report on Tuesday, August 5th. Piper Sandler upped their price target on Mr. Cooper Group from $143.00 to $158.00 and gave the stock a "neutral" rating in a report on Tuesday, July 1st. Finally, Jefferies Financial Group boosted their price objective on Mr. Cooper Group from $110.00 to $150.00 and gave the stock a "hold" rating in a research note on Tuesday, July 22nd. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average 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.

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