Hsbc Holdings PLC Lowers Position in Mr. Cooper Group Inc. (NASDAQ:COOP)

Hsbc Holdings PLC reduced its stake in Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) by 37.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,909 shares of the company's stock after selling 16,851 shares during the quarter. Hsbc Holdings PLC's holdings in Mr. Cooper Group were worth $2,686,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Invesco Ltd. lifted its position in Mr. Cooper Group by 5.2% in the 4th quarter. Invesco Ltd. now owns 1,800,369 shares of the company's stock valued at $172,853,000 after acquiring an additional 89,544 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Mr. Cooper Group by 43.1% during the fourth quarter. Wellington Management Group LLP now owns 1,138,904 shares of the company's stock valued at $109,346,000 after purchasing an additional 343,243 shares in the last quarter. Norges Bank purchased a new stake in shares of Mr. Cooper Group during the fourth quarter valued at $72,984,000. JPMorgan Chase & Co. boosted its position in shares of Mr. Cooper Group by 15.5% during the fourth quarter. JPMorgan Chase & Co. now owns 644,159 shares of the company's stock valued at $61,846,000 after buying an additional 86,510 shares during the last quarter. Finally, Veridan Wealth LLC bought a new stake in Mr. Cooper Group in the 4th quarter worth about $56,244,000. 89.82% of the stock is owned by hedge funds and other institutional investors.

Mr. Cooper Group Stock Down 1.0 %

COOP traded down $1.21 during midday trading on Tuesday, reaching $116.34. The company had a trading volume of 52,428 shares, compared to its average volume of 572,818. The business has a 50-day moving average of $112.28 and a two-hundred day moving average of $103.51. The company has a market cap of $7.44 billion, a P/E ratio of 11.46, a P/E/G ratio of 0.32 and a beta of 1.06. Mr. Cooper Group Inc. has a 1 year low of $78.20 and a 1 year high of $137.60.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.16. The business had revenue of $560.00 million for the quarter, compared to the consensus estimate of $620.57 million. Mr. Cooper Group had a net margin of 30.07% and a return on equity of 14.76%. The company's revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.73 earnings per share. On average, equities research analysts predict that Mr. Cooper Group Inc. will post 13.17 EPS for the current year.

Insider Buying and Selling

In other news, CEO Jesse K. Bray sold 30,000 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $112.24, for a total value of $3,367,200.00. Following the transaction, the chief executive officer now directly owns 698,821 shares in the company, valued at $78,435,669.04. The trade was a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.73% of the stock is currently owned by insiders.

Analyst Ratings Changes

COOP has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price target 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. Piper Sandler downgraded shares of Mr. Cooper Group from an "overweight" rating to a "neutral" rating and lifted their target price for the stock from $125.00 to $143.00 in a research report on Friday, April 4th. UBS Group boosted their target price on shares of Mr. Cooper Group from $135.00 to $145.00 and gave the company a "buy" rating in a research note on Wednesday, April 16th. Barclays raised their price target on Mr. Cooper Group from $130.00 to $147.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 8th. Finally, JMP Securities reiterated a "market outperform" rating and set a $115.00 price objective on shares of Mr. Cooper Group in a research report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $131.14.

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.