Mr. Cooper Group (NASDAQ:COOP) Trading Down 6.9% – Time to Sell?

Mr. Cooper Group Inc. (NASDAQ:COOP)’s share price was down 6.9% during mid-day trading on Wednesday . The stock traded as low as $109.18 and last traded at $108.41. Approximately 227,531 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 542,145 shares. The stock had previously closed at $116.50.

Analyst Ratings Changes

Several brokerages have recently issued reports on COOP. Citizens Jmp cut Mr. Cooper Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 1st. Barclays upped their price target on shares of Mr. Cooper Group from $130.00 to $147.00 and gave the company an “overweight” rating in a report on Tuesday. JMP Securities reiterated a “market outperform” rating and issued a $115.00 target price on shares of Mr. Cooper Group in a report on Thursday, February 13th. Keefe, Bruyette & Woods raised their target price on shares of Mr. Cooper Group from $115.00 to $143.00 and gave the stock a “market perform” rating in a report on Tuesday. Finally, Piper Sandler downgraded Mr. Cooper Group from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $125.00 to $143.00 in a research report on Friday, April 4th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $119.78.

Mr. Cooper Group Stock Down 8.7 %

The firm has a market capitalization of $6.77 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 0.32 and a beta of 1.17. The business’s 50-day moving average price is $109.50 and its 200-day moving average price is $100.53.

Mr. Cooper Group (NASDAQ:COOP) last issued its earnings results on Wednesday, February 12th. The company reported $2.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.65 by $0.08. Mr. Cooper Group had a net margin of 30.07% and a return on equity of 14.76%. On average, analysts anticipate that Mr. Cooper Group Inc. will post 13.17 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jesse K. Bray sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $112.24, for a total value of $3,367,200.00. Following the completion of the sale, the chief executive officer now owns 698,821 shares of the company’s stock, valued at approximately $78,435,669.04. The trade was a 4.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.33% of the company’s stock.

Institutional Trading of Mr. Cooper Group

Several large investors have recently added to or reduced their stakes in COOP. Picton Mahoney Asset Management lifted its stake in shares of Mr. Cooper Group by 41.3% in the 4th quarter. Picton Mahoney Asset Management now owns 325 shares of the company’s stock valued at $31,000 after purchasing an additional 95 shares during the last quarter. Asset Planning Inc acquired a new stake in shares of Mr. Cooper Group in the fourth quarter worth about $48,000. ORG Partners LLC bought a new stake in shares of Mr. Cooper Group during the 4th quarter worth about $51,000. Kapitalo Investimentos Ltda acquired a new position in shares of Mr. Cooper Group during the 4th quarter valued at about $70,000. Finally, Covestor Ltd raised its stake in shares of Mr. Cooper Group by 418.9% in the 4th quarter. Covestor Ltd now owns 742 shares of the company’s stock valued at $71,000 after acquiring an additional 599 shares in the last quarter. 89.82% of the stock is owned by institutional investors.

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.