Mr. Cooper Group Inc. (NASDAQ:COOP) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) by 3.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 474,767 shares of the company's stock after selling 14,469 shares during the period. Bank of New York Mellon Corp owned about 0.74% of Mr. Cooper Group worth $45,582,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in COOP. FMR LLC boosted its stake in Mr. Cooper Group by 42.9% during the third quarter. FMR LLC now owns 485,907 shares of the company's stock worth $44,791,000 after buying an additional 145,767 shares during the period. Basswood Capital Management L.L.C. lifted its holdings in shares of Mr. Cooper Group by 36.6% in the 3rd quarter. Basswood Capital Management L.L.C. now owns 496,243 shares of the company's stock worth $45,744,000 after acquiring an additional 132,970 shares during the last quarter. Barclays PLC boosted its stake in shares of Mr. Cooper Group by 198.0% during the 3rd quarter. Barclays PLC now owns 132,017 shares of the company's stock worth $12,170,000 after purchasing an additional 87,712 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Mr. Cooper Group by 6.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 916,365 shares of the company's stock valued at $84,471,000 after purchasing an additional 52,001 shares during the last quarter. Finally, State Street Corp grew its holdings in Mr. Cooper Group by 1.9% during the 3rd quarter. State Street Corp now owns 2,726,946 shares of the company's stock valued at $251,370,000 after purchasing an additional 51,667 shares during the last quarter. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Analyst Ratings Changes

Several brokerages have issued reports on COOP. Keefe, Bruyette & Woods boosted their target price on Mr. Cooper Group from $105.00 to $115.00 and gave the company a "market perform" rating in a research report on Thursday, February 13th. Piper Sandler boosted their price objective on Mr. Cooper Group from $113.00 to $120.00 and gave the company an "overweight" rating in a report on Wednesday, January 22nd. Citizens Jmp upgraded Mr. Cooper Group to a "strong-buy" rating in a research note on Tuesday, January 14th. UBS Group boosted their target price on shares of Mr. Cooper Group from $122.00 to $135.00 and gave the company a "buy" rating in a research note on Tuesday, February 18th. Finally, Barclays upped their price target on shares of Mr. Cooper Group from $111.00 to $130.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Mr. Cooper Group presently has an average rating of "Moderate Buy" and an average target price of $112.22.

Mr. Cooper Group Price Performance

Shares of NASDAQ:COOP traded down $5.65 during trading hours on Monday, hitting $100.54. The company's stock had a trading volume of 953,354 shares, compared to its average volume of 567,672. The firm's fifty day moving average price is $103.69 and its 200 day moving average price is $97.42. Mr. Cooper Group Inc. has a 52 week low of $70.88 and a 52 week high of $114.05. The company has a market capitalization of $6.39 billion, a price-to-earnings ratio of 9.88, a P/E/G ratio of 0.32 and a beta of 1.49.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $2.73 EPS for the quarter, topping analysts' consensus estimates of $2.65 by $0.08. Mr. Cooper Group had a net margin of 30.07% and a return on equity of 14.76%. On average, equities research analysts predict that Mr. Cooper Group Inc. will post 13.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $112.24, for a total transaction of $3,367,200.00. Following the completion of the sale, the chief executive officer now owns 698,821 shares of the company's stock, valued at $78,435,669.04. This represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.33% of the stock is currently owned by company insiders.

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.