Insider Selling: Mr. Cooper Group Inc (NASDAQ:COOP) CEO Sells 30,000 Shares of 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 the company's stock in a transaction that occurred on 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Mr. Cooper Group Stock Performance

Shares of NASDAQ COOP traded up $4.88 during trading hours on Monday, hitting $179.14. 1,418,550 shares of the stock were exchanged, compared to its average volume of 1,003,565. Mr. Cooper Group Inc has a 1-year low of $80.35 and a 1-year high of $180.57. The company has a market cap of $11.46 billion, a PE ratio of 20.50 and a beta of 0.98. The company's fifty day simple moving average is $146.76 and its two-hundred day simple moving average is $124.38.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $608.00 million for the quarter, compared to the consensus estimate of $669.23 million. During the same quarter in the prior year, the company earned $3.10 earnings per share. Mr. Cooper Group's quarterly revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts expect that Mr. Cooper Group Inc will post 13.17 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on COOP. Piper Sandler raised their price target on Mr. Cooper Group from $143.00 to $158.00 and gave the company a "neutral" rating in a report on Tuesday, July 1st. Jefferies Financial Group upped their target price on Mr. Cooper Group from $110.00 to $150.00 and gave the company a "hold" rating in a research report on Tuesday, July 22nd. UBS Group restated a "neutral" rating and issued a $156.00 price target on shares of Mr. Cooper Group in a research note on Tuesday, July 15th. Barclays raised their target price on shares of Mr. Cooper Group from $147.00 to $156.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods raised their price objective on Mr. Cooper Group from $115.00 to $143.00 and gave the stock a "market perform" rating in a research note on Tuesday, April 8th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $137.88.

Institutional Investors Weigh In On Mr. Cooper Group

A number of hedge funds have recently made changes to their positions in COOP. Park Avenue Securities LLC bought a new stake in shares of Mr. Cooper Group during the first quarter worth $1,684,000. Assenagon Asset Management S.A. raised its holdings in 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 valued at $126,438,000 after buying an additional 129,414 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake 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 during the first quarter valued at $221,000. Finally, Envestnet Asset Management Inc. lifted its holdings in Mr. Cooper Group by 359.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 113,824 shares of the company's stock worth $13,613,000 after buying an additional 89,031 shares during the period. 89.82% of the stock is currently owned by institutional investors and hedge funds.

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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