Geode Capital Management LLC Decreases Stake in Mr. Cooper Group Inc. (NASDAQ:COOP)

Geode Capital Management LLC lessened its position in Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) by 1.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,526,223 shares of the company's stock after selling 27,674 shares during the period. Geode Capital Management LLC owned about 2.39% of Mr. Cooper Group worth $140,714,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in COOP. Charles Schwab Investment Management Inc. lifted its position in Mr. Cooper Group by 6.0% during the third 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 period. Cynosure Group LLC bought a new stake in shares of Mr. Cooper Group during the 3rd quarter valued at about $730,000. FMR LLC increased its position 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 purchasing an additional 145,767 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of Mr. Cooper Group by 50.7% in the 3rd quarter. Los Angeles Capital Management LLC now owns 32,592 shares of the company's stock worth $3,004,000 after purchasing an additional 10,964 shares during the period. Finally, Waterfall Asset Management LLC purchased a new position in shares of Mr. Cooper Group in the second quarter worth approximately $809,000. 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 on Monday, December 2nd. The stock was sold at an average price of $97.58, for a total value of $2,927,400.00. Following the transaction, the chief executive officer now owns 788,821 shares of the company's stock, valued at $76,973,153.18. This represents a 3.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.33% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on COOP. Wedbush restated an "outperform" rating and set a $115.00 target price on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Barclays raised their price objective on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. Finally, Compass Point lifted their target price on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $100.57.

Mr. Cooper Group Price Performance

Mr. Cooper Group stock traded up $0.22 during mid-day trading on Tuesday, reaching $98.45. 753,695 shares of the company traded hands, compared to its average volume of 447,503. The firm's fifty day moving average is $95.56 and its two-hundred day moving average is $90.23. The company has a market capitalization of $6.30 billion, a price-to-earnings ratio of 12.72 and a beta of 1.41. Mr. Cooper Group Inc. has a fifty-two week low of $61.38 and a fifty-two week high of $103.05.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share (EPS) 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 firm had revenue of $616.00 million for the quarter, compared to analysts' expectations of $548.09 million. During the same quarter last year, the company earned $2.79 EPS. The firm's revenue for the quarter was up 32.8% compared to the same quarter last year. As a group, equities research analysts predict that Mr. Cooper Group Inc. will post 10.16 earnings per share for the current year.

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.