Rubric Capital Management LP Reduces Stock Position in Mr. Cooper Group Inc. (NASDAQ:COOP)

Rubric Capital Management LP reduced its position in Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) by 31.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,035,998 shares of the company's stock after selling 482,775 shares during the period. Mr. Cooper Group comprises approximately 1.6% of Rubric Capital Management LP's holdings, making the stock its 13th largest position. Rubric Capital Management LP owned approximately 1.62% of Mr. Cooper Group worth $95,498,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in shares of Mr. Cooper Group by 77.1% during the second quarter. Blue Trust Inc. now owns 333 shares of the company's stock valued at $26,000 after purchasing an additional 145 shares during the last quarter. CWM LLC increased its position in Mr. Cooper Group by 34.5% during the second quarter. CWM LLC now owns 601 shares of the company's stock valued at $49,000 after acquiring an additional 154 shares during the last quarter. Aristeia Capital L.L.C. lifted its holdings in Mr. Cooper Group by 4.2% in the second quarter. Aristeia Capital L.L.C. now owns 4,197 shares of the company's stock valued at $341,000 after acquiring an additional 169 shares during the period. Truist Financial Corp boosted its position in Mr. Cooper Group by 1.6% in the second quarter. Truist Financial Corp now owns 11,840 shares of the company's stock worth $962,000 after purchasing an additional 187 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. grew its stake in shares of Mr. Cooper Group by 2.0% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 10,521 shares of the company's stock valued at $820,000 after purchasing an additional 203 shares during the period. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

Mr. Cooper Group Price Performance

Shares of COOP stock traded up $0.04 during trading hours on Wednesday, hitting $98.33. The stock had a trading volume of 321,767 shares, compared to its average volume of 451,131. The stock's 50-day moving average price is $93.92 and its two-hundred day moving average price is $88.74. Mr. Cooper Group Inc. has a one year low of $59.03 and a one year high of $103.05. The stock has a market capitalization of $6.29 billion, a price-to-earnings ratio of 12.77 and a beta of 1.40.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $2.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 in the previous year, the company posted $2.79 EPS. The company's revenue 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 fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Barclays increased their price objective on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 8th. Compass Point increased their price target on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Finally, Wedbush reiterated an "outperform" rating and set a $115.00 price target on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Mr. Cooper Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $98.00.

Insider Buying and Selling at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the firm's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $88.41, for a total value of $2,652,300.00. Following the completion of the sale, the chief executive officer now owns 818,821 shares in the company, valued at approximately $72,391,964.61. This trade represents a 3.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.33% of the company's stock.

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.