Public Sector Pension Investment Board Buys 67,657 Shares of Mr. Cooper Group Inc (NASDAQ:COOP)

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 boosted its position in Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 42.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 227,117 shares of the company's stock after purchasing an additional 67,657 shares during the period. Public Sector Pension Investment Board owned about 0.35% of Mr. Cooper Group worth $27,163,000 as of its most recent filing with the SEC.

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

Insider Activity at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer owned 663,187 shares in the company, valued at $115,872,032.64. This represents a 4.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.73% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

Mr. Cooper Group Trading Down 4.6%

COOP stock traded down $9.26 during trading on Thursday, reaching $193.60. 823,541 shares of the stock were exchanged, compared to its average volume of 1,001,587. Mr. Cooper Group Inc has a twelve month low of $84.15 and a twelve month high of $203.42. The firm's 50 day moving average is $155.78 and its 200 day moving average is $128.72. The firm has a market cap of $12.39 billion, a P/E ratio of 22.15 and a beta of 0.98.

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

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.