Wellington Management Group LLP Sells 437,332 Shares of Mr. Cooper Group Inc. (NASDAQ:COOP)

Wellington Management Group LLP reduced its stake in shares of Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) by 35.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 795,661 shares of the company's stock after selling 437,332 shares during the period. Wellington Management Group LLP owned about 1.24% of Mr. Cooper Group worth $73,344,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. raised its stake in Mr. Cooper Group by 77.1% in the 2nd quarter. Blue Trust Inc. now owns 333 shares of the company's stock valued at $26,000 after acquiring an additional 145 shares during the period. CWM LLC increased its stake in shares of Mr. Cooper Group by 34.5% in the second quarter. CWM LLC now owns 601 shares of the company's stock worth $49,000 after purchasing an additional 154 shares in the last quarter. Aristeia Capital L.L.C. raised its position in shares of 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 purchasing an additional 169 shares during the period. Truist Financial Corp raised its position in shares of Mr. Cooper Group by 1.6% in the second quarter. Truist Financial Corp now owns 11,840 shares of the company's stock valued at $962,000 after purchasing an additional 187 shares during the period. Finally, Evergreen Capital Management LLC lifted its stake in shares of Mr. Cooper Group by 4.2% during the 2nd quarter. Evergreen Capital Management LLC now owns 5,236 shares of the company's stock valued at $425,000 after buying an additional 211 shares in the last quarter. Hedge funds and other institutional investors own 89.82% of the company's stock.

Insider Buying and Selling at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $88.41, for a total value of $2,652,300.00. Following the transaction, the chief executive officer now owns 818,821 shares of the company's stock, valued at $72,391,964.61. This represents a 3.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.33% of the stock is currently owned by company insiders.

Mr. Cooper Group Stock Up 1.2 %

NASDAQ:COOP traded up $1.16 during trading hours on Wednesday, hitting $95.96. 310,391 shares of the company's stock traded hands, compared to its average volume of 447,014. Mr. Cooper Group Inc. has a 52 week low of $61.38 and a 52 week high of $103.05. The business's fifty day simple moving average is $95.04 and its two-hundred day simple moving average is $89.71. The firm has a market cap of $6.14 billion, a P/E ratio of 12.25 and a beta of 1.41.

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 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 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 firm posted $2.79 EPS. The company's revenue was up 32.8% compared to the same quarter last year. On average, analysts expect that Mr. Cooper Group Inc. will post 10.16 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on COOP shares. Compass Point lifted their price objective 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. Barclays lifted their price target on 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, Wedbush reissued an "outperform" rating and set a $115.00 price objective on shares of Mr. Cooper Group in a report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus 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.