Vestcor Inc Takes $195,000 Position in Mr. Cooper Group Inc (NASDAQ:COOP)

Key Points

• Vestcor Inc acquired a new stake in Mr. Cooper Group Inc, purchasing 1,628 shares valued at approximately $195,000 in the first quarter.
• CEO Jesse K. Bray sold 30,000 shares of the stock for over $5.24 million, reducing his ownership by 4.33% to 663,187 shares.
• Mr. Cooper's stock hit $189.34 per share recently, with a market cap of $12.12 billion and an average price target from analysts of $140.63.

Vestcor Inc acquired a new stake in shares of Mr. Cooper Group Inc (NASDAQ:COOP - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,628 shares of the company's stock, valued at approximately $195,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. bought a new stake in Mr. Cooper Group in the first quarter worth approximately $26,000. Allworth Financial LP grew its position in Mr. Cooper Group by 24.5% in the first quarter. Allworth Financial LP now owns 442 shares of the company's stock worth $51,000 after acquiring an additional 87 shares in the last quarter. USA Financial Formulas bought a new stake in Mr. Cooper Group in the first quarter worth approximately $55,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Mr. Cooper Group in the fourth quarter worth $70,000. Finally, Covestor Ltd lifted its stake in shares of Mr. Cooper Group by 418.9% in the fourth quarter. Covestor Ltd now owns 742 shares of the company's stock worth $71,000 after buying an additional 599 shares during the last quarter. 89.82% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Mr. Cooper Group 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 transaction of $5,241,600.00. Following the sale, the chief executive officer owned 663,187 shares of the company's stock, valued at $115,872,032.64. This represents a 4.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.33% of the stock is currently owned by corporate insiders.

Mr. Cooper Group Price Performance

Shares of COOP traded up $10.20 during trading hours on Tuesday, hitting $189.34. The stock had a trading volume of 1,676,112 shares, compared to its average volume of 1,170,965. The company's fifty day moving average is $148.87 and its two-hundred day moving average is $125.36. Mr. Cooper Group Inc has a 52 week low of $82.55 and a 52 week high of $190.47. The stock has a market capitalization of $12.12 billion, a price-to-earnings ratio of 21.66 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 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 firm had revenue of $608.00 million during the quarter, compared to the consensus estimate of $669.23 million. During the same period in the previous year, the company posted $3.10 EPS. The firm's revenue for the quarter was up 8.6% compared to the same quarter last year. Equities analysts predict that Mr. Cooper Group Inc will post 13.17 EPS for the current fiscal year.

Analyst Ratings Changes

COOP has been the subject of a number of analyst reports. Jefferies Financial Group boosted their price objective on shares of Mr. Cooper Group from $110.00 to $150.00 and gave the stock a "hold" rating in a research note on Tuesday, July 22nd. Barclays upped their target price on shares of Mr. Cooper Group from $147.00 to $156.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods upped 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 research note on Tuesday, April 8th. Piper Sandler upped their target price on shares of Mr. Cooper Group from $143.00 to $158.00 and gave the company a "neutral" rating in a research note on Tuesday, July 1st. Finally, UBS Group increased their price objective on shares of Mr. Cooper Group from $156.00 to $178.00 and gave the company a "neutral" rating in a research note on Tuesday. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $140.63.

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.