Assenagon Asset Management S.A. Trims Holdings in Mr. Cooper Group Inc. (NASDAQ:COOP)

Assenagon Asset Management S.A. reduced its stake in Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) by 25.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 927,762 shares of the company's stock after selling 319,672 shares during the period. Assenagon Asset Management S.A. owned 1.45% of Mr. Cooper Group worth $89,074,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in shares of Mr. Cooper Group by 6.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 916,365 shares of the company's stock worth $84,471,000 after acquiring an additional 52,001 shares in the last quarter. World Investment Advisors LLC bought a new position in Mr. Cooper Group in the third quarter worth $2,537,000. Cynosure Group LLC purchased a new position in Mr. Cooper Group during the third quarter valued at $730,000. FMR LLC boosted its holdings in shares of Mr. Cooper Group by 42.9% during the 3rd quarter. FMR LLC now owns 485,907 shares of the company's stock valued at $44,791,000 after buying an additional 145,767 shares in the last quarter. Finally, Range Financial Group LLC purchased a new stake in shares of Mr. Cooper Group in the 4th quarter worth about $1,091,000. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on COOP. 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 research note on Thursday, October 24th. Barclays upped their price target on Mr. Cooper Group from $103.00 to $108.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 8th. Citizens Jmp upgraded Mr. Cooper Group to a "strong-buy" rating in a research note on Tuesday. JMP Securities started coverage on Mr. Cooper Group in a research note on Tuesday. They issued an "outperform" rating and a $115.00 target price on the stock. Finally, Wedbush reaffirmed an "outperform" rating and issued a $115.00 price target on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Mr. Cooper Group has an average rating of "Moderate Buy" and a consensus price target of $102.38.

Mr. Cooper Group Stock Performance

Shares of COOP stock traded up $3.49 during trading hours on Wednesday, reaching $100.03. The company had a trading volume of 369,856 shares, compared to its average volume of 433,095. The firm has a market cap of $6.40 billion, a PE ratio of 12.92 and a beta of 1.43. The business has a fifty day moving average price of $96.41 and a 200-day moving average price of $91.98. Mr. Cooper Group Inc. has a one year low of $61.38 and a one year high of $103.05.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share for the quarter, beating 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 business had revenue of $616.00 million during the quarter, compared to analyst estimates of $548.09 million. During the same period in the previous year, the business earned $2.79 EPS. The company's quarterly revenue was up 32.8% compared to the same quarter last year. Equities research analysts forecast that Mr. Cooper Group Inc. will post 10.16 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group 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 transaction, the chief executive officer now owns 818,821 shares in the company, valued at $72,391,964.61. This trade represents a 3.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 90,000 shares of company stock valued at $8,414,400. Insiders own 2.33% of the company's stock.

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.