Amalgamated Bank Decreases Stock Position in Mr. Cooper Group Inc (NASDAQ:COOP)

Amalgamated Bank lessened its stake in Mr. Cooper Group Inc (NASDAQ:COOP) by 3.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,122 shares of the company’s stock after selling 632 shares during the period. Amalgamated Bank’s holdings in Mr. Cooper Group were worth $2,167,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Picton Mahoney Asset Management increased its stake in Mr. Cooper Group by 41.3% in the 4th quarter. Picton Mahoney Asset Management now owns 325 shares of the company’s stock worth $31,000 after purchasing an additional 95 shares during the period. USA Financial Formulas purchased a new position in shares of Mr. Cooper Group in the first quarter worth $55,000. Kapitalo Investimentos Ltda bought a new stake in Mr. Cooper Group during the 4th quarter valued at $70,000. Covestor Ltd raised its holdings in Mr. Cooper Group by 418.9% during the 4th quarter. Covestor Ltd now owns 742 shares of the company’s stock valued at $71,000 after buying an additional 599 shares during the last quarter. Finally, National Bank of Canada FI purchased a new stake in Mr. Cooper Group during the 4th quarter valued at $78,000. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the company’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $152.14, for a total value of $4,564,200.00. Following the sale, the chief executive officer directly owned 693,187 shares of the company’s stock, valued at $105,461,470.18. This represents a 4.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.73% of the company’s stock.

Mr. Cooper Group Stock Performance

COOP stock opened at $150.95 on Friday. Mr. Cooper Group Inc has a fifty-two week low of $78.20 and a fifty-two week high of $158.00. The company has a market capitalization of $9.66 billion, a price-to-earnings ratio of 17.15, a price-to-earnings-growth ratio of 0.44 and a beta of 1.05. The business’s 50 day moving average price is $134.19 and its two-hundred day moving average price is $115.91.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $2.97 earnings per share for the quarter, beating the consensus estimate of $2.81 by $0.16. The company had revenue of $560.00 million for the quarter, compared to analyst estimates of $620.57 million. Mr. Cooper Group had a return on equity of 15.27% and a net margin of 25.93%. The firm’s revenue was down .7% on a year-over-year basis. During the same period in the previous year, the company posted $2.73 earnings per share. Sell-side analysts forecast that Mr. Cooper Group Inc will post 13.17 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on COOP. Barclays boosted their price objective on shares of Mr. Cooper Group from $130.00 to $147.00 and gave the company an “overweight” rating in a research report on Tuesday, April 8th. Piper Sandler upped their price target on Mr. Cooper Group from $143.00 to $158.00 and gave the company a “neutral” rating in a research report on Tuesday, July 1st. UBS Group lifted their price objective on Mr. Cooper Group from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods boosted their target price on Mr. Cooper Group from $115.00 to $143.00 and gave the company a “market perform” rating in a research note on Tuesday, April 8th. Finally, Citizens Jmp lowered Mr. Cooper Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 1st. Three investment 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, Mr. Cooper Group currently has an average rating of “Moderate Buy” and a consensus price target of $133.29.

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.