Insider Selling: Mr. Cooper Group Inc. (NASDAQ:COOP) CEO Sells 30,000 Shares of Stock

Mr. Cooper Group Inc. (NASDAQ:COOP) CEO Jesse K. Bray sold 30,000 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $88.41, for a total transaction of $2,652,300.00. Following the completion of the transaction, the chief executive officer now directly owns 818,821 shares in the company, valued at approximately $72,391,964.61. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Mr. Cooper Group Stock Performance

Shares of COOP stock opened at $101.20 on Wednesday. The company’s 50-day simple moving average is $92.52 and its 200-day simple moving average is $87.51. Mr. Cooper Group Inc. has a one year low of $55.61 and a one year high of $103.05. The stock has a market capitalization of $6.48 billion, a price-to-earnings ratio of 13.07 and a beta of 1.40.

Mr. Cooper Group (NASDAQ:COOP) last released its earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $616.00 million during the quarter, compared to analyst estimates of $548.09 million. During the same quarter in the previous year, the firm earned $2.79 earnings per share. The firm’s revenue for the quarter was up 32.8% compared to the same quarter last year. As a group, research analysts forecast that Mr. Cooper Group Inc. will post 10.17 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in COOP. Blue Trust Inc. lifted its position in Mr. Cooper Group by 77.1% in the 2nd quarter. Blue Trust Inc. now owns 333 shares of the company’s stock valued at $26,000 after purchasing an additional 145 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in 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 valued at $27,000 after acquiring an additional 331 shares during the last quarter. Quarry LP bought a new position in shares of Mr. Cooper Group during the 2nd quarter valued at about $29,000. Financial Management Professionals Inc. acquired a new position in shares of Mr. Cooper Group in the 3rd quarter worth approximately $30,000. Finally, CWM LLC grew its position in Mr. Cooper Group by 34.5% in the second quarter. CWM LLC now owns 601 shares of the company’s stock worth $49,000 after buying an additional 154 shares during the last quarter. 89.82% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on COOP shares. Piper Sandler raised their price objective on Mr. Cooper Group from $91.00 to $106.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Barclays upped their price target on Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a 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 note on Thursday, October 24th. Keefe, Bruyette & Woods lowered shares of Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 price target for the company. in a report on Monday, July 22nd. Finally, Compass Point boosted their price objective on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Mr. Cooper Group presently has a consensus rating of “Moderate Buy” and an average price target of $98.00.

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.