Connor Clark & Lunn Investment Management Ltd. Sells 108,779 Shares of Mr. Cooper Group Inc. (NASDAQ:COOP)

Connor Clark & Lunn Investment Management Ltd. trimmed its position in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) by 94.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,878 shares of the company’s stock after selling 108,779 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Mr. Cooper Group were worth $634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Whalen Wealth Management Inc. bought a new position in Mr. Cooper Group in the third quarter valued at about $478,000. Prudent Man Advisors LLC bought a new position in shares of Mr. Cooper Group in the 3rd quarter worth approximately $241,000. Los Angeles Capital Management LLC lifted its stake in shares of Mr. Cooper Group by 50.7% in the 3rd quarter. Los Angeles Capital Management LLC now owns 32,592 shares of the company’s stock worth $3,004,000 after purchasing an additional 10,964 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in shares of Mr. Cooper Group by 12.9% in the third quarter. Crossmark Global Holdings Inc. now owns 5,186 shares of the company’s stock worth $478,000 after buying an additional 591 shares during the last quarter. Finally, Assetmark Inc. increased its holdings in Mr. Cooper Group by 6.4% during the third quarter. Assetmark Inc. now owns 11,127 shares of the company’s stock valued at $1,026,000 after buying an additional 667 shares during the last quarter. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

Mr. Cooper Group Stock Up 0.0 %

Shares of Mr. Cooper Group stock opened at $98.33 on Friday. Mr. Cooper Group Inc. has a 52 week low of $59.03 and a 52 week high of $103.05. The stock’s 50-day simple moving average is $94.02 and its 200-day simple moving average is $88.80. The company has a market capitalization of $6.29 billion, a price-to-earnings ratio of 12.70 and a beta of 1.40.

Mr. Cooper Group (NASDAQ:COOP) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.30. The business had revenue of $616.00 million during the quarter, compared to the consensus estimate of $548.09 million. Mr. Cooper Group had a return on equity of 13.77% and a net margin of 25.87%. The firm’s revenue for the quarter was up 32.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.79 EPS. On average, equities analysts expect that Mr. Cooper Group Inc. will post 10.16 earnings per share for the current year.

Insider Buying and Selling at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 30,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $88.41, for a total value of $2,652,300.00. Following the sale, the chief executive officer now directly owns 818,821 shares in the company, valued at approximately $72,391,964.61. The trade was a 3.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on COOP. Compass Point boosted their price objective on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Barclays boosted their price target on Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.00.

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.