Wellington Management Group LLP Has $73.34 Million Position in Mr. Cooper Group Inc. (NASDAQ:COOP)

Wellington Management Group LLP reduced its stake in Mr. Cooper Group Inc. (NASDAQ:COOP) by 35.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 795,661 shares of the company’s stock after selling 437,332 shares during the period. Wellington Management Group LLP’s holdings in Mr. Cooper Group were worth $73,344,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp increased its holdings in shares of Mr. Cooper Group by 1.9% in the third quarter. State Street Corp now owns 2,726,946 shares of the company’s stock valued at $251,370,000 after purchasing an additional 51,667 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Mr. Cooper Group by 11.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,247,434 shares of the company’s stock valued at $114,988,000 after purchasing an additional 125,055 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Mr. Cooper Group by 6.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 916,365 shares of the company’s stock valued at $84,471,000 after purchasing an additional 52,001 shares during the last quarter. LSV Asset Management increased its holdings in shares of Mr. Cooper Group by 249.2% in the second quarter. LSV Asset Management now owns 633,260 shares of the company’s stock valued at $51,440,000 after purchasing an additional 451,926 shares during the last quarter. Finally, Basswood Capital Management L.L.C. increased its holdings in shares of Mr. Cooper Group by 36.6% in the third quarter. Basswood Capital Management L.L.C. now owns 496,243 shares of the company’s stock valued at $45,744,000 after purchasing an additional 132,970 shares during the last quarter. 89.82% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on COOP. Compass Point upped their price target 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 upped their price target on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Finally, Wedbush restated an “outperform” rating and issued 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 five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.57.

Mr. Cooper Group Stock Down 1.1 %

Shares of Mr. Cooper Group stock opened at $94.80 on Wednesday. The company has a market capitalization of $6.07 billion, a price-to-earnings ratio of 12.25 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. The firm’s 50-day moving average price is $95.04 and its two-hundred day moving average price is $89.71.

Mr. Cooper Group (NASDAQ:COOP) last announced 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. The firm had revenue of $616.00 million for the quarter, compared to the consensus estimate of $548.09 million. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%. The business’s revenue for the quarter was up 32.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.79 earnings per share. On average, sell-side analysts expect that Mr. Cooper Group Inc. will post 10.16 earnings per share for the current year.

Insider Transactions at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $97.58, for a total value of $2,927,400.00. Following the completion of the transaction, the chief executive officer now owns 788,821 shares of the company’s stock, valued at approximately $76,973,153.18. This represents a 3.66 % decrease in their ownership of the stock. 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.

About Mr. Cooper Group

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.