Swiss National Bank Trims Stake in Mr. Cooper Group Inc (NASDAQ:COOP)

Key Points

• The Swiss National Bank reduced its stake in Mr. Cooper Group by 2.2%, now owning approximately 0.19% of the company worth around $14.83 million.
• CEO Jesse K. Bray sold 30,000 shares of the firm's stock, representing a 4.33% decrease in his position.
• Recent analyst reports have set price targets for Mr. Cooper Group, with UBS Group targeting $176.00, while the consensus rating remains at "Hold".

Swiss National Bank lowered its position in Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 124,000 shares of the company's stock after selling 2,800 shares during the quarter. Swiss National Bank owned about 0.19% of Mr. Cooper Group worth $14,830,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. purchased a new position in Mr. Cooper Group in the 1st quarter worth about $26,000. Allworth Financial LP increased its stake in Mr. Cooper Group by 24.5% in the 1st quarter. Allworth Financial LP now owns 442 shares of the company's stock worth $51,000 after buying an additional 87 shares during the period. USA Financial Formulas purchased a new position in Mr. Cooper Group in the 1st quarter worth about $55,000. Kapitalo Investimentos Ltda purchased a new position in Mr. Cooper Group in the 4th quarter worth about $70,000. Finally, CWM LLC increased its stake in Mr. Cooper Group by 20.7% in the 1st quarter. CWM LLC now owns 781 shares of the company's stock worth $93,000 after buying an additional 134 shares during the period. Hedge funds and other institutional investors own 89.82% of the company's stock.

Insider Buying and Selling at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the firm's 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 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.73% of the company's stock.

Analysts Set New Price Targets

COOP has been the topic of several recent analyst reports. UBS Group set a $176.00 price target on shares of Mr. Cooper Group in a research note on Tuesday, August 5th. Barclays raised 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 note on Tuesday, July 8th. Jefferies Financial Group increased their target price on shares of Mr. Cooper Group from $110.00 to $150.00 and gave the stock a "hold" rating in a report on Tuesday, July 22nd. Finally, Piper Sandler increased their target price on shares of Mr. Cooper Group from $143.00 to $158.00 and gave the stock a "neutral" rating in a report on Tuesday, July 1st. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Mr. Cooper Group has an average rating of "Hold" and an average target price of $140.38.

Mr. Cooper Group Price Performance

Shares of Mr. Cooper Group stock opened at $202.86 on Thursday. Mr. Cooper Group Inc has a 1 year low of $84.15 and a 1 year high of $203.42. The firm's 50-day moving average is $155.78 and its two-hundred day moving average is $128.72. The stock has a market cap of $12.98 billion, a price-to-earnings ratio of 23.21 and a beta of 0.98.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last released its quarterly 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). Mr. Cooper Group had a net margin of 25.38% and a return on equity of 15.66%. The firm had revenue of $608.00 million during the quarter, compared to the consensus estimate of $669.23 million. During the same quarter in the prior year, the business posted $3.10 earnings per share. The firm's quarterly revenue was up 8.6% on a year-over-year basis. On average, equities analysts expect that Mr. Cooper Group Inc will post 13.17 earnings per share for the current year.

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.

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