SG Americas Securities LLC Decreases Stock Position in Mr. Cooper Group Inc. (NASDAQ:COOP)

SG Americas Securities LLC reduced its holdings in shares of Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) by 73.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,207 shares of the company's stock after selling 5,963 shares during the quarter. SG Americas Securities LLC's holdings in Mr. Cooper Group were worth $179,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in COOP. USA Financial Formulas bought a new position in Mr. Cooper Group during the fourth quarter worth $25,000. CWM LLC boosted its holdings in shares of Mr. Cooper Group by 34.5% during the 2nd quarter. CWM LLC now owns 601 shares of the company's stock worth $49,000 after buying an additional 154 shares during the period. GAMMA Investing LLC bought a new stake in shares of Mr. Cooper Group during the 4th quarter valued at $61,000. Quest Partners LLC acquired a new stake in shares of Mr. Cooper Group during the 4th quarter worth $61,000. Finally, Fidelis Capital Partners LLC bought a new position in shares of Mr. Cooper Group in the first quarter worth $85,000. 89.82% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Jesse K. Bray sold 25,000 shares of the company's stock in a transaction on Friday, June 28th. The shares were sold at an average price of $80.93, for a total value of $2,023,250.00. Following the sale, the chief executive officer now directly owns 259,631 shares of the company's stock, valued at approximately $21,011,936.83. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.33% of the stock is currently owned by corporate insiders.

Mr. Cooper Group Stock Performance

Shares of Mr. Cooper Group stock traded up $2.13 during midday trading on Friday, hitting $92.76. 339,494 shares of the company traded hands, compared to its average volume of 413,478. The firm's fifty day moving average price is $85.63 and its 200-day moving average price is $80.38. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of 9.71 and a beta of 1.39. Mr. Cooper Group Inc. has a 12 month low of $52.46 and a 12 month high of $95.74.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last posted its earnings results on Thursday, July 25th. The company reported $2.52 earnings per share for the quarter, topping analysts' consensus estimates of $2.33 by $0.19. Mr. Cooper Group had a net margin of 33.22% and a return on equity of 14.10%. The firm had revenue of $583.00 million for the quarter, compared to analysts' expectations of $552.09 million. During the same quarter in the previous year, the firm posted $1.66 earnings per share. The company's revenue was up 3.4% on a year-over-year basis. Equities research analysts forecast that Mr. Cooper Group Inc. will post 9.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods cut shares of Mr. Cooper Group from an "outperform" rating to a "market perform" rating and set a $95.00 price objective for the company. in a research report on Monday, July 22nd. Barclays upped their price target on shares of Mr. Cooper Group from $94.00 to $103.00 and gave the stock an "overweight" rating in a report on Friday, July 26th. Piper Sandler increased their price target on shares of Mr. Cooper Group from $91.00 to $106.00 and gave the stock an "overweight" rating in a research report on Friday, July 26th. Finally, Wedbush boosted their price objective on shares of Mr. Cooper Group from $100.00 to $115.00 and gave the company an "outperform" rating in a research report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.88.

About Mr. Cooper Group

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.