Mr. Cooper Group Inc (NASDAQ:COOP) CEO Sells $5,241,600.00 in Stock

Key Points

• CEO Insider Selling: Mr. Cooper Group CEO Jesse K. Bray sold 30,000 shares at an average price of $174.72, totaling approximately $5.24 million, which reduced his ownership by 4.33% to 663,187 shares.
• Quarterly Earnings Report: The company reported earnings per share of $3.13, below analysts' expectations of $3.28, with a revenue of $608 million for the quarter, missing the consensus estimate by over $61 million.
• Analyst Ratings: The consensus rating for Mr. Cooper Group is "Hold," with multiple brokerages adjusting their price targets, the highest being $158, and a consensus target of $137.88.

Mr. Cooper Group Inc (NASDAQ:COOP - Get Free Report) CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $174.72, for a total value of $5,241,600.00. Following the transaction, the chief executive officer owned 663,187 shares in the company, valued at approximately $115,872,032.64. The trade was a 4.33% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Mr. Cooper Group Trading Down 2.2%

COOP stock traded down $4.06 during midday trading on Friday, hitting $181.82. 163,042 shares of the company's stock were exchanged, compared to its average volume of 999,697. The stock has a market capitalization of $11.63 billion, a price-to-earnings ratio of 20.80 and a beta of 0.98. The firm has a 50 day moving average price of $151.13 and a 200-day moving average price of $126.38. Mr. Cooper Group Inc has a 12-month low of $84.15 and a 12-month high of $193.86.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $3.13 EPS 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 quarter last year, the company posted $3.10 EPS. Mr. Cooper Group's revenue for the quarter was up 8.6% on a year-over-year basis. On average, sell-side analysts forecast that Mr. Cooper Group Inc will post 13.17 EPS for the current fiscal year.

Institutional Trading of Mr. Cooper Group

Institutional investors have recently made changes to their positions in the stock. Park Avenue Securities LLC acquired a new position in shares of Mr. Cooper Group during the 1st quarter valued at about $1,684,000. Assenagon Asset Management S.A. boosted its position in shares of Mr. Cooper Group by 13.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,057,176 shares of the company's stock worth $126,438,000 after purchasing an additional 129,414 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in Mr. Cooper Group during the 4th quarter worth approximately $394,000. Arcus Capital Partners LLC bought a new position in shares of Mr. Cooper Group in the first quarter valued at $221,000. Finally, Envestnet Asset Management Inc. raised its position in shares of Mr. Cooper Group by 359.1% in the first quarter. Envestnet Asset Management Inc. now owns 113,824 shares of the company's stock valued at $13,613,000 after purchasing an additional 89,031 shares during the period. 89.82% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

COOP has been the subject of a number of research reports. Barclays lifted their price objective on Mr. Cooper Group from $147.00 to $156.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. UBS Group set a $176.00 price objective on shares of Mr. Cooper Group in a report on Tuesday. Piper Sandler increased their price objective on 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, Jefferies Financial Group boosted their target price on Mr. Cooper Group from $110.00 to $150.00 and gave the stock a "hold" rating in a research note on Tuesday, July 22nd. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $140.38.

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.