Mr. Cooper Group Inc (NASDAQ:COOP) Shares Purchased by Public Sector Pension Investment Board

Key Points

• The Public Sector Pension Investment Board increased its holdings in Mr. Cooper Group Inc by 42.4% during the first quarter, owning approximately 0.35% of the company worth $27.16 million.
• CEO Jesse K. Bray sold 30,000 shares of the company for over $5.24 million, reducing their ownership by 4.33%.
• Wall Street analysts have boosted the target price for Mr. Cooper Group, with Barclays setting it at $156.00 and UBS Group at $176.00, while maintaining a consensus rating of "Hold."

Public Sector Pension Investment Board increased its holdings in Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 42.4% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 227,117 shares of the company's stock after acquiring an additional 67,657 shares during the period. Public Sector Pension Investment Board owned approximately 0.35% of Mr. Cooper Group worth $27,163,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP raised its stake in Mr. Cooper Group by 24.5% in the first quarter. Allworth Financial LP now owns 442 shares of the company's stock valued at $51,000 after buying an additional 87 shares in the last quarter. Sage Rhino Capital LLC raised its stake in Mr. Cooper Group by 4.7% in the first quarter. Sage Rhino Capital LLC now owns 2,187 shares of the company's stock valued at $262,000 after buying an additional 98 shares in the last quarter. Penbrook Management LLC raised its stake in Mr. Cooper Group by 0.6% in the first quarter. Penbrook Management LLC now owns 15,825 shares of the company's stock valued at $1,893,000 after buying an additional 100 shares in the last quarter. CWM LLC raised its stake in Mr. Cooper Group by 20.7% in the first quarter. CWM LLC now owns 781 shares of the company's stock valued at $93,000 after buying an additional 134 shares in the last quarter. Finally, MorganRosel Wealth Management LLC raised its stake in Mr. Cooper Group by 1.2% in the first quarter. MorganRosel Wealth Management LLC now owns 13,544 shares of the company's stock valued at $1,620,000 after buying an additional 154 shares in the last quarter. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other 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 completion of the sale, the chief executive officer directly owned 663,187 shares in the company, valued at approximately $115,872,032.64. This trade represents a 4.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.73% of the company's stock.

Mr. Cooper Group Stock Performance

NASDAQ:COOP traded down $2.33 during mid-day trading on Friday, reaching $191.27. The stock had a trading volume of 704,119 shares, compared to its average volume of 1,190,807. The firm has a market capitalization of $12.24 billion, a price-to-earnings ratio of 21.88 and a beta of 0.98. Mr. Cooper Group Inc has a twelve month low of $84.15 and a twelve month high of $203.42. The business has a 50 day simple moving average of $158.21 and a 200 day simple moving average of $129.91.

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on COOP. UBS Group set a $176.00 price target on Mr. Cooper Group in a research note on Tuesday, August 5th. Jefferies Financial Group raised their price objective on Mr. Cooper Group from $110.00 to $150.00 and gave the stock a "hold" rating in a report on Tuesday, July 22nd. Barclays raised their price objective on Mr. Cooper Group from $147.00 to $156.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, Piper Sandler raised 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. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $140.38.

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.