JPMorgan Chase & Co. Sells 5,747 Shares of Mr. Cooper Group Inc. (NASDAQ:COOP)

JPMorgan Chase & Co. decreased its stake in Mr. Cooper Group Inc. (NASDAQ:COOP) by 1.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 557,649 shares of the company’s stock after selling 5,747 shares during the period. JPMorgan Chase & Co.’s holdings in Mr. Cooper Group were worth $51,404,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Financial Management Professionals Inc. purchased a new stake in Mr. Cooper Group in the 3rd quarter worth approximately $30,000. Allspring Global Investments Holdings LLC increased its stake in shares of Mr. Cooper Group by 8,275.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company’s stock worth $27,000 after purchasing an additional 331 shares in the last quarter. Quarry LP purchased a new position in shares of Mr. Cooper Group during the 2nd quarter valued at $29,000. Harvest Fund Management Co. Ltd lifted its stake in shares of Mr. Cooper Group by 152.5% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock valued at $41,000 after buying an additional 270 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new position in Mr. Cooper Group in the 3rd quarter worth $52,000. Institutional investors own 89.82% of the company’s stock.

Mr. Cooper Group Stock Up 1.5 %

Mr. Cooper Group stock opened at $95.39 on Friday. The company’s 50-day moving average price is $95.97 and its 200-day moving average price is $91.32. The company has a market cap of $6.10 billion, a PE ratio of 12.32 and a beta of 1.41. Mr. Cooper Group Inc. has a twelve month low of $61.38 and a twelve month high of $103.05.

Mr. Cooper Group (NASDAQ:COOP) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.30. Mr. Cooper Group had a return on equity of 13.77% and a net margin of 25.87%. The business had revenue of $616.00 million during the quarter, compared to analyst estimates of $548.09 million. During the same period last year, the company earned $2.79 EPS. The company’s revenue for the quarter was up 32.8% on a year-over-year basis. As a group, sell-side analysts expect that Mr. Cooper Group Inc. will post 10.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on COOP shares. Barclays boosted their price objective on Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Wedbush reiterated an “outperform” rating and set a $115.00 price objective on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Finally, Compass Point lifted their price target on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.57.

Insider Buying and Selling at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $97.58, for a total transaction of $2,927,400.00. Following the completion of the transaction, the chief executive officer now directly owns 788,821 shares of the company’s stock, valued at approximately $76,973,153.18. The trade was a 3.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 90,000 shares of company stock worth $8,414,400 over the last quarter. Insiders own 2.33% of the company’s stock.

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.