Mr. Cooper Group Inc. (NASDAQ:COOP) CEO Michael R. Rawls Sells 27,000 Shares

Mr. Cooper Group Inc. (NASDAQ:COOP) CEO Michael R. Rawls sold 27,000 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $82.18, for a total value of $2,218,860.00. Following the transaction, the chief executive officer now directly owns 57,623 shares of the company’s stock, valued at $4,735,458.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Mr. Cooper Group Price Performance

Shares of NASDAQ:COOP traded up $1.77 on Thursday, hitting $83.93. The company’s stock had a trading volume of 312,408 shares, compared to its average volume of 471,108. The company has a market capitalization of $5.43 billion, a PE ratio of 8.79 and a beta of 1.41. The company has a 50-day simple moving average of $76.24 and a 200 day simple moving average of $68.13. Mr. Cooper Group Inc. has a 1 year low of $42.40 and a 1 year high of $84.00.

Mr. Cooper Group (NASDAQ:COOP) last announced its earnings results on Wednesday, April 24th. The company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.17. Mr. Cooper Group had a net margin of 31.75% and a return on equity of 13.31%. The business had revenue of $564.00 million for the quarter, compared to the consensus estimate of $498.15 million. On average, equities research analysts expect that Mr. Cooper Group Inc. will post 9.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mr. Cooper Group

A number of hedge funds have recently made changes to their positions in COOP. Vanguard Group Inc. raised its holdings in Mr. Cooper Group by 5.4% during the 4th quarter. Vanguard Group Inc. now owns 7,626,038 shares of the company’s stock valued at $496,608,000 after buying an additional 391,780 shares during the last quarter. Wellington Management Group LLP raised its holdings in Mr. Cooper Group by 1.5% during the 4th quarter. Wellington Management Group LLP now owns 1,714,900 shares of the company’s stock valued at $111,674,000 after buying an additional 25,351 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Mr. Cooper Group by 12.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,593,780 shares of the company’s stock valued at $103,787,000 after purchasing an additional 182,014 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Mr. Cooper Group by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 768,848 shares of the company’s stock worth $50,067,000 after purchasing an additional 37,823 shares during the period. Finally, Norges Bank bought a new stake in shares of Mr. Cooper Group during the 4th quarter valued at about $47,104,000. 89.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $92.00 price objective (up from $86.00) on shares of Mr. Cooper Group in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft lifted their price target on Mr. Cooper Group from $88.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Wedbush increased their price objective on Mr. Cooper Group from $85.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Jefferies Financial Group lifted their target price on Mr. Cooper Group from $74.00 to $80.00 and gave the company a “hold” rating in a report on Friday, April 19th. Finally, Barclays increased their price target on shares of Mr. Cooper Group from $85.00 to $94.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $82.22.

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.