Prescott Group Capital Management L.L.C. Sells 15,000 Shares of Mr. Cooper Group Inc (NASDAQ:COOP)

Key Points

• Prescott Group Capital Management L.L.C. reduced its stake in MR. COOPER GROUP INC by 42.9%, owning 20,000 shares valued at approximately $2.39 million after selling 15,000 shares in the first quarter.
• MR. COOPER GROUP reported earnings of $3.13 per share for the last quarter, missing estimates, alongside a revenue of $608 million, which was below the projected $669.23 million.
• Insider trading included CEO Jesse K. Bray selling 30,000 shares at an average price of $152.14, reducing his stake in the company by 4.15%.

Prescott Group Capital Management L.L.C. lessened its stake in Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 42.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,000 shares of the company's stock after selling 15,000 shares during the quarter. Prescott Group Capital Management L.L.C.'s holdings in Mr. Cooper Group were worth $2,392,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. First Horizon Advisors Inc. bought a new stake in Mr. Cooper Group during the 1st quarter valued at $26,000. Allworth Financial LP raised its holdings in Mr. Cooper Group by 24.5% during the 1st quarter. Allworth Financial LP now owns 442 shares of the company's stock valued at $51,000 after acquiring an additional 87 shares during the period. USA Financial Formulas bought a new stake in Mr. Cooper Group during the 1st quarter valued at $55,000. Kapitalo Investimentos Ltda bought a new stake in Mr. Cooper Group during the 4th quarter valued at $70,000. Finally, Covestor Ltd raised its holdings in Mr. Cooper Group by 418.9% during the 4th quarter. Covestor Ltd now owns 742 shares of the company's stock valued at $71,000 after acquiring an additional 599 shares during the period. Institutional investors own 89.82% of the company's stock.

Mr. Cooper Group Stock Up 0.5%

NASDAQ:COOP traded up $0.79 during midday trading on Tuesday, hitting $159.11. The company had a trading volume of 400,486 shares, compared to its average volume of 994,400. Mr. Cooper Group Inc has a 52-week low of $80.35 and a 52-week high of $178.89. The stock's fifty day moving average price is $144.15 and its 200-day moving average price is $122.61. The company has a market capitalization of $10.18 billion, a PE ratio of 18.20 and a beta of 1.05.

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 (EPS) for the quarter, missing the consensus estimate of $3.28 by ($0.15). Mr. Cooper Group had a return on equity of 15.66% and a net margin of 25.38%. The company had revenue of $608.00 million during the quarter, compared to analysts' expectations of $669.23 million. During the same quarter last year, the firm posted $3.10 earnings per share. The firm's revenue was up 8.6% on a year-over-year basis. As a group, research analysts forecast that Mr. Cooper Group Inc will post 13.17 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on COOP. Piper Sandler boosted their target price on shares of Mr. Cooper Group from $143.00 to $158.00 and gave the company a "neutral" rating in a report on Tuesday, July 1st. Keefe, Bruyette & Woods boosted their target price on shares of Mr. Cooper Group from $115.00 to $143.00 and gave the company a "market perform" rating in a report on Tuesday, April 8th. Barclays boosted their price target on shares of Mr. Cooper Group from $147.00 to $156.00 and gave the company an "overweight" rating in a research report on Tuesday, July 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, UBS Group restated a "neutral" rating and set a $156.00 price target on shares of Mr. Cooper Group in a research report on Tuesday, July 15th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $137.88.

Insiders Place Their Bets

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the business's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $152.14, for a total value of $4,564,200.00. Following the completion of the sale, the chief executive officer directly owned 693,187 shares of the company's stock, valued at $105,461,470.18. The trade was a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.33% of the stock is owned by corporate insiders.

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.