Mr. Cooper Group Inc. (NASDAQ:COOP) Shares Sold by FORA Capital LLC

FORA Capital LLC lowered its holdings in Mr. Cooper Group Inc. (NASDAQ:COOP) by 27.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,672 shares of the company’s stock after selling 2,152 shares during the period. FORA Capital LLC’s holdings in Mr. Cooper Group were worth $523,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Blue Trust Inc. increased its stake 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 worth $26,000 after buying an additional 145 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Mr. Cooper Group by 8,275.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company’s stock valued at $27,000 after purchasing an additional 331 shares during the period. Quarry LP acquired a new stake in Mr. Cooper Group in the second quarter worth approximately $29,000. Financial Management Professionals Inc. bought a new position in shares of Mr. Cooper Group during the 3rd quarter valued at about $30,000. Finally, Harvest Fund Management Co. Ltd lifted its position in shares of Mr. Cooper Group by 152.5% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock valued at $41,000 after acquiring an additional 270 shares during the last quarter. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on COOP. Compass Point upped their target price on Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Barclays upped their price objective on shares of 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 reiterated an “outperform” rating and issued a $115.00 price objective on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Mr. Cooper Group has an average rating of “Moderate Buy” and a consensus price target of $98.00.

Mr. Cooper Group Price Performance

COOP opened at $98.33 on Friday. The stock has a market capitalization of $6.29 billion, a P/E ratio of 12.70 and a beta of 1.40. The company’s 50 day simple moving average is $94.02 and its 200-day simple moving average is $88.80. Mr. Cooper Group Inc. has a one year low of $59.03 and a one year high of $103.05.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.30. The firm had revenue of $616.00 million for the quarter, compared to analyst estimates of $548.09 million. Mr. Cooper Group had a return on equity of 13.77% and a net margin of 25.87%. The business’s quarterly revenue was up 32.8% compared to the same quarter last year. During the same period last year, the company earned $2.79 EPS. As a group, analysts anticipate that Mr. Cooper Group Inc. will post 10.16 EPS for the current year.

Insider Buying and Selling

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $88.41, for a total transaction 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. The trade was a 3.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate 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.