Insider Selling: Mr. Cooper Group Inc. (NASDAQ:COOP) CEO Sells 46,000 Shares of Stock

Mr. Cooper Group Inc. (NASDAQ:COOPGet Rating) CEO Jesse K. Bray sold 46,000 shares of the company’s stock in a transaction dated Friday, May 20th. The shares were sold at an average price of $42.45, for a total transaction of $1,952,700.00. Following the sale, the chief executive officer now directly owns 1,048,915 shares of the company’s stock, valued at $44,526,441.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

COOP stock traded up $1.65 during mid-day trading on Monday, reaching $44.52. 675,206 shares of the stock traded hands, compared to its average volume of 979,929. The firm has a market capitalization of $3.29 billion, a PE ratio of 2.29 and a beta of 1.39. The business has a 50-day moving average of $44.63 and a two-hundred day moving average of $43.92. Mr. Cooper Group Inc. has a 52 week low of $31.79 and a 52 week high of $52.34.

Mr. Cooper Group (NASDAQ:COOPGet Rating) last announced its earnings results on Thursday, April 28th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.12. The firm had revenue of $625.00 million during the quarter, compared to the consensus estimate of $591.14 million. Mr. Cooper Group had a return on equity of 16.11% and a net margin of 48.79%. The firm’s revenue for the quarter was down 50.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.87 EPS. Sell-side analysts predict that Mr. Cooper Group Inc. will post 4.01 EPS for the current fiscal year.

Several analysts have issued reports on COOP shares. Piper Sandler boosted their target price on shares of Mr. Cooper Group from $60.00 to $71.00 and gave the company an “overweight” rating in a research note on Monday, February 14th. Barclays lowered their price objective on shares of Mr. Cooper Group from $51.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 12th. BTIG Research started coverage on Mr. Cooper Group in a research report on Wednesday, April 20th. They issued a “neutral” rating on the stock. Zacks Investment Research downgraded Mr. Cooper Group from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 3rd. Finally, Wedbush lifted their target price on shares of Mr. Cooper Group from $50.00 to $60.00 in a research note on Monday, February 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $57.20.

Several institutional investors have recently made changes to their positions in the company. Exchange Traded Concepts LLC lifted its stake in shares of Mr. Cooper Group by 1.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 15,355 shares of the company’s stock valued at $639,000 after buying an additional 279 shares during the period. Legend Financial Advisors Inc. grew its holdings in shares of Mr. Cooper Group by 1.1% during the 3rd quarter. Legend Financial Advisors Inc. now owns 29,754 shares of the company’s stock worth $1,225,000 after purchasing an additional 314 shares in the last quarter. Profund Advisors LLC increased its position in shares of Mr. Cooper Group by 5.2% during the third quarter. Profund Advisors LLC now owns 7,892 shares of the company’s stock valued at $325,000 after purchasing an additional 389 shares during the period. Captrust Financial Advisors lifted its position in Mr. Cooper Group by 7.2% in the first quarter. Captrust Financial Advisors now owns 5,987 shares of the company’s stock worth $273,000 after purchasing an additional 401 shares during the period. Finally, Federated Hermes Inc. lifted its position in Mr. Cooper Group by 91.5% in the first quarter. Federated Hermes Inc. now owns 879 shares of the company’s stock worth $40,000 after purchasing an additional 420 shares during the period. Institutional investors and hedge funds own 83.01% of the company’s stock.

About Mr. Cooper Group (Get Rating)

Mr. Cooper Group Inc provides servicing, origination, and transaction-based services related to single-family residences in the United States. The company operates through two segments: Servicing and Originations. The Servicing segment performs activities for underlying mortgages, including collecting and disbursing borrower payments, investor reporting, customer service, and modifying loans.

Further Reading

Insider Buying and Selling by Quarter for Mr. Cooper Group (NASDAQ:COOP)

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