Everence Capital Management Inc. Lowers Stock Position in Mr. Cooper Group Inc. (NASDAQ:COOP)

Everence Capital Management Inc. lessened its stake in Mr. Cooper Group Inc. (NASDAQ:COOP) by 62.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,730 shares of the company’s stock after selling 7,980 shares during the quarter. Everence Capital Management Inc.’s holdings in Mr. Cooper Group were worth $454,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Financial Management Professionals Inc. bought a new position in Mr. Cooper Group in the third quarter valued at $30,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Mr. Cooper Group by 8,275.0% in the 2nd 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 bought a new position in shares of Mr. Cooper Group during the 2nd quarter valued at about $29,000. Harvest Fund Management Co. Ltd raised its holdings 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 stake in Mr. Cooper Group in the 3rd quarter worth approximately $52,000. Institutional investors own 89.82% of the company’s stock.

Mr. Cooper Group Stock Up 1.5 %

Shares of COOP opened at $95.39 on Monday. The stock has a market capitalization of $6.10 billion, a P/E ratio of 12.32 and a beta of 1.43. Mr. Cooper Group Inc. has a twelve month low of $61.38 and a twelve month high of $103.05. The firm has a fifty day simple moving average of $95.97 and a two-hundred day simple moving average of $91.39.

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

Insider Transactions at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 30,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $97.58, for a total value of $2,927,400.00. Following the completion of the sale, the chief executive officer now owns 788,821 shares of the company’s stock, valued at $76,973,153.18. This trade represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders have sold 90,000 shares of company stock worth $8,414,400. 2.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Barclays increased their price target on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Compass Point lifted their target price on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Wedbush reissued an “outperform” rating and issued a $115.00 price target on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $100.57.

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.