Vestcor Inc Buys New Holdings in Mr. Cooper Group Inc. (NASDAQ:COOP)

Vestcor Inc acquired a new stake in shares of Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,948 shares of the company's stock, valued at approximately $640,000.

Other large investors have also bought and sold shares of the company. Blue Trust Inc. raised its position in shares of Mr. Cooper Group by 77.1% in 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 period. Allspring Global Investments Holdings LLC grew its stake in Mr. Cooper Group by 8,275.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company's stock valued at $27,000 after buying an additional 331 shares in the last quarter. Quarry LP bought a new stake in Mr. Cooper Group during the 2nd quarter valued at $29,000. Financial Management Professionals Inc. purchased a new stake in shares of Mr. Cooper Group during the third quarter worth $30,000. Finally, Harvest Fund Management Co. Ltd boosted its holdings in shares of Mr. Cooper Group by 152.5% in the third quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company's stock worth $41,000 after acquiring an additional 270 shares during the period. 89.82% of the stock is owned by hedge funds and other institutional investors.

Mr. Cooper Group Trading Up 1.6 %

Shares of NASDAQ COOP traded up $1.48 during midday trading on Friday, hitting $96.84. 339,093 shares of the company's stock were exchanged, compared to its average volume of 445,602. The business's fifty day moving average price is $95.31 and its two-hundred day moving average price is $89.90. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 12.51 and a beta of 1.41. Mr. Cooper Group Inc. has a 12-month low of $61.38 and a 12-month 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 EPS for the quarter, topping 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 business had revenue of $616.00 million during the quarter, compared to analysts' expectations of $548.09 million. During the same quarter in the previous year, the company earned $2.79 EPS. The business's quarterly revenue was up 32.8% compared to the same quarter last year. Equities analysts expect that Mr. Cooper Group Inc. will post 10.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $97.58, for a total transaction of $2,927,400.00. Following the transaction, the chief executive officer now directly owns 788,821 shares in the company, valued at $76,973,153.18. This trade represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.33% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on COOP. Compass Point boosted their price objective on Mr. Cooper Group from $97.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Barclays increased their price target on shares of 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 restated an "outperform" rating and issued a $115.00 price objective on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $100.57.

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.