Connor Clark & Lunn Investment Management Ltd. Lowers Stake in Mr. Cooper Group Inc. (NASDAQ:COOP)

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in shares of Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) by 94.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,878 shares of the company's stock after selling 108,779 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Mr. Cooper Group were worth $634,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Whalen Wealth Management Inc. purchased a new stake in shares of Mr. Cooper Group during the 3rd quarter worth $478,000. Prudent Man Advisors LLC purchased a new stake in Mr. Cooper Group during the third quarter valued at approximately $241,000. Los Angeles Capital Management LLC lifted its holdings in shares of Mr. Cooper Group by 50.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 32,592 shares of the company's stock valued at $3,004,000 after purchasing an additional 10,964 shares during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of Mr. Cooper Group by 12.9% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 5,186 shares of the company's stock valued at $478,000 after purchasing an additional 591 shares during the last quarter. Finally, Assetmark Inc. boosted its position in shares of Mr. Cooper Group by 6.4% in the 3rd quarter. Assetmark Inc. now owns 11,127 shares of the company's stock worth $1,026,000 after purchasing an additional 667 shares in the last quarter. Institutional investors own 89.82% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on COOP. Compass Point boosted their price objective on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Barclays lifted their target price on Mr. Cooper Group from $103.00 to $108.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. Finally, Wedbush reiterated an "outperform" rating and issued a $115.00 price target on shares of Mr. Cooper Group in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $98.00.

Mr. Cooper Group Stock Up 0.3 %

Shares of NASDAQ COOP traded up $0.34 during trading on Friday, hitting $98.67. The company had a trading volume of 241,180 shares, compared to its average volume of 450,227. The firm has a market capitalization of $6.31 billion, a price-to-earnings ratio of 12.70 and a beta of 1.40. The stock has a fifty day simple moving average of $94.14 and a two-hundred day simple moving average of $88.87. Mr. Cooper Group Inc. has a fifty-two week low of $60.01 and a fifty-two week high of $103.05.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last released its earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.30. Mr. Cooper Group had a return on equity of 13.77% and a net margin of 25.87%. The business had revenue of $616.00 million for the quarter, compared to the consensus estimate of $548.09 million. During the same quarter last year, the business posted $2.79 earnings per share. The business's quarterly revenue was up 32.8% compared to the same quarter last year. On average, analysts anticipate that Mr. Cooper Group Inc. will post 10.16 earnings per share for the current year.

Insider Activity

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction dated 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 directly owns 818,821 shares of the company's stock, valued at $72,391,964.61. The trade was a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.