Mr. Cooper Group Inc. (NASDAQ:COOP) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System cut its position in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) by 2.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,278 shares of the company’s stock after selling 658 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Mr. Cooper Group were worth $1,765,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Mr. Cooper Group by 5.4% during the 4th quarter. Vanguard Group Inc. now owns 7,626,038 shares of the company’s stock worth $496,608,000 after purchasing an additional 391,780 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Mr. Cooper Group by 1.5% during the fourth quarter. Wellington Management Group LLP now owns 1,714,900 shares of the company’s stock valued at $111,674,000 after acquiring an additional 25,351 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Mr. Cooper Group by 12.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,593,780 shares of the company’s stock worth $103,787,000 after purchasing an additional 182,014 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Mr. Cooper Group by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 768,848 shares of the company’s stock valued at $50,067,000 after purchasing an additional 37,823 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Mr. Cooper Group during the fourth quarter worth about $47,104,000. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

COOP has been the topic of a number of analyst reports. Wedbush raised their target price on shares of Mr. Cooper Group from $85.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft upped their target price on Mr. Cooper Group from $88.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Barclays raised their price target on Mr. Cooper Group from $85.00 to $94.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Jefferies Financial Group increased their price objective on shares of Mr. Cooper Group from $74.00 to $80.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $92.00 target price (up from $86.00) on shares of Mr. Cooper Group in a research report on Thursday, April 25th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $85.13.

Insider Transactions at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 25,000 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $78.79, for a total value of $1,969,750.00. Following the completion of the transaction, the chief executive officer now owns 309,631 shares of the company’s stock, valued at $24,395,826.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Michael R. Rawls sold 27,000 shares of the company’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $82.18, for a total value of $2,218,860.00. Following the sale, the chief executive officer now owns 57,623 shares in the company, valued at approximately $4,735,458.14. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jesse K. Bray sold 25,000 shares of the business’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $78.79, for a total value of $1,969,750.00. Following the completion of the sale, the chief executive officer now directly owns 309,631 shares of the company’s stock, valued at $24,395,826.49. The disclosure for this sale can be found here. Insiders sold 102,000 shares of company stock valued at $8,247,360 over the last quarter. Company insiders own 2.33% of the company’s stock.

Mr. Cooper Group Price Performance

NASDAQ COOP traded down $1.18 during mid-day trading on Friday, hitting $80.06. The company’s stock had a trading volume of 24,440 shares, compared to its average volume of 442,724. The firm has a market capitalization of $5.18 billion, a P/E ratio of 8.51 and a beta of 1.39. Mr. Cooper Group Inc. has a 52-week low of $48.01 and a 52-week high of $85.17. The stock’s fifty day simple moving average is $81.77 and its two-hundred day simple moving average is $74.58.

Mr. Cooper Group (NASDAQ:COOP) last posted its earnings results on Wednesday, April 24th. The company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.17. Mr. Cooper Group had a net margin of 31.75% and a return on equity of 13.31%. The business had revenue of $564.00 million for the quarter, compared to analyst estimates of $498.15 million. On average, equities analysts forecast that Mr. Cooper Group Inc. will post 9.42 earnings per share for the current fiscal year.

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.