KBC Group NV Cuts Stock Position in Mr. Cooper Group Inc (NASDAQ:COOP)

KBC Group NV trimmed its position in shares of Mr. Cooper Group Inc (NASDAQ:COOP) by 16.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,778 shares of the company’s stock after selling 528 shares during the quarter. KBC Group NV’s holdings in Mr. Cooper Group were worth $332,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in shares of Mr. Cooper Group in the 4th quarter worth approximately $72,984,000. 140 Summer Partners LP acquired a new stake in Mr. Cooper Group in the fourth quarter valued at approximately $69,959,000. Wellington Management Group LLP grew its holdings in Mr. Cooper Group by 43.1% in the fourth quarter. Wellington Management Group LLP now owns 1,138,904 shares of the company’s stock worth $109,346,000 after purchasing an additional 343,243 shares during the last quarter. Cercano Management LLC increased its position in shares of Mr. Cooper Group by 66.5% during the fourth quarter. Cercano Management LLC now owns 790,753 shares of the company’s stock worth $75,920,000 after purchasing an additional 315,801 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Mr. Cooper Group by 14,148.0% during the 1st quarter. GAMMA Investing LLC now owns 311,319 shares of the company’s stock valued at $37,234,000 after purchasing an additional 309,134 shares during the last quarter. 89.82% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the company’s stock in a transaction on 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 approximately $105,461,470.18. This represents a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.73% of the stock is currently owned by company insiders.

Mr. Cooper Group Stock Down 1.7%

Mr. Cooper Group stock opened at $150.95 on Friday. The stock has a 50-day moving average price of $134.19 and a 200 day moving average price of $115.91. 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. Mr. Cooper Group Inc has a 52 week low of $78.20 and a 52 week high of $158.00.

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Citizens Jmp downgraded Mr. Cooper Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 1st. Piper Sandler boosted their price target on Mr. Cooper Group from $143.00 to $158.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 1st. Keefe, Bruyette & Woods upped their price objective on shares of Mr. Cooper Group from $115.00 to $143.00 and gave the company a “market perform” rating in a report on Tuesday, April 8th. Barclays lifted their target price on shares of Mr. Cooper Group from $130.00 to $147.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 8th. Finally, UBS Group boosted their target price on shares of Mr. Cooper Group from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, April 16th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Mr. Cooper Group has an average rating of “Moderate Buy” and a consensus target price of $133.29.

Mr. Cooper Group 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.