Jesse K. Bray Sells 30,000 Shares of Mr. Cooper Group Inc. (NASDAQ:COOP) Stock

Mr. Cooper Group Inc. (NASDAQ:COOP) CEO Jesse K. Bray sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $112.24, for a total value of $3,367,200.00. Following the sale, the chief executive officer now directly owns 698,821 shares of the company’s stock, valued at approximately $78,435,669.04. This represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Mr. Cooper Group Stock Performance

COOP opened at $110.37 on Thursday. The company has a market cap of $7.02 billion, a PE ratio of 10.84, a price-to-earnings-growth ratio of 0.32 and a beta of 1.49. Mr. Cooper Group Inc. has a 1 year low of $70.88 and a 1 year high of $114.05. The firm has a 50 day moving average price of $102.91 and a 200 day moving average price of $97.05.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings data on Wednesday, February 12th. The company reported $2.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.08. Mr. Cooper Group had a net margin of 30.07% and a return on equity of 14.76%. On average, sell-side analysts predict that Mr. Cooper Group Inc. will post 13.17 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on COOP shares. Barclays boosted their target price on Mr. Cooper Group from $111.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. JMP Securities reissued a “market outperform” rating and issued a $115.00 price objective on shares of Mr. Cooper Group in a research note on Thursday, February 13th. UBS Group raised their target price on shares of Mr. Cooper Group from $122.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Keefe, Bruyette & Woods boosted their price target on shares of Mr. Cooper Group from $105.00 to $115.00 and gave the stock a “market perform” rating in a research note on Thursday, February 13th. Finally, Piper Sandler raised their price objective on shares of Mr. Cooper Group from $113.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $112.22.

Institutional Trading of Mr. Cooper Group

Several large investors have recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB grew its stake in shares of Mr. Cooper Group by 9,175.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 4,916 shares of the company’s stock valued at $472,000 after buying an additional 4,863 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Mr. Cooper Group by 6.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 916,365 shares of the company’s stock valued at $84,471,000 after acquiring an additional 52,001 shares in the last quarter. Cynosure Group LLC purchased a new stake in shares of Mr. Cooper Group during the third quarter valued at approximately $730,000. World Investment Advisors LLC purchased a new stake in shares of Mr. Cooper Group during the third quarter valued at approximately $2,537,000. Finally, Spire Wealth Management acquired a new position in shares of Mr. Cooper Group during the fourth quarter worth $1,480,000. 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.