Persistent Asset Partners Ltd Sells 3,205 Shares of 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 reduced its stake in shares of Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 57.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor 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 filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. LPL Financial LLC boosted its stake in shares of Mr. Cooper Group by 3.3% in the 4th quarter. LPL Financial LLC now owns 14,957 shares of the company's stock worth $1,436,000 after buying an additional 472 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Mr. Cooper Group by 8.7% in the 4th quarter. Wells Fargo & Company MN now owns 82,452 shares of the company's stock worth $7,916,000 after buying an additional 6,588 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Mr. Cooper Group by 9.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 24,793 shares of the company's stock valued at $2,380,000 after purchasing an additional 2,199 shares during the last quarter. Cerity Partners LLC purchased a new position in Mr. Cooper Group in the fourth quarter valued at approximately $430,000. Finally, Bank of Montreal Can lifted its stake in Mr. Cooper Group by 10.1% in the fourth quarter. Bank of Montreal Can now owns 9,649 shares of the company's stock valued at $926,000 after purchasing an additional 889 shares during the last quarter. 89.82% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on COOP. Barclays upped their price objective on Mr. Cooper Group from $147.00 to $156.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Piper Sandler upped their price objective on Mr. Cooper Group from $143.00 to $158.00 and gave the company a "neutral" rating in a research note on Tuesday, July 1st. Jefferies Financial Group upped their price objective on Mr. Cooper Group from $110.00 to $150.00 and gave the company a "hold" rating in a research note on Tuesday, July 22nd. Finally, UBS Group set a $176.00 price objective on Mr. Cooper Group in a research note on Tuesday, August 5th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $140.38.

Insider Buying and Selling at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the company's stock in a transaction on Friday, August 1st. The shares were sold at an average price of $174.72, for a total value of $5,241,600.00. Following the transaction, the chief executive officer owned 663,187 shares of the company's stock, valued at approximately $115,872,032.64. This represents a 4.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.73% of the company's stock.

Mr. Cooper Group Stock Performance

COOP stock traded down $2.33 during midday trading on Friday, reaching $191.27. 704,119 shares of the company's stock traded hands, compared to its average volume of 1,190,807. The company has a 50-day moving average price of $158.21 and a two-hundred day moving average price of $129.91. Mr. Cooper Group Inc has a 52 week low of $84.15 and a 52 week high of $203.42. The firm has a market capitalization of $12.24 billion, a PE ratio of 21.88 and a beta of 0.98.

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

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.