Alliancebernstein L.P. Cuts Holdings in Mr. Cooper Group Inc. (NASDAQ:COOP)

Alliancebernstein L.P. lowered its position in Mr. Cooper Group Inc. (NASDAQ:COOP) by 18.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 117,797 shares of the company’s stock after selling 26,070 shares during the period. Alliancebernstein L.P. owned about 0.18% of Mr. Cooper Group worth $11,310,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Picton Mahoney Asset Management lifted its holdings in Mr. Cooper Group by 41.3% during the fourth quarter. Picton Mahoney Asset Management now owns 325 shares of the company’s stock valued at $31,000 after purchasing an additional 95 shares in the last quarter. Asset Planning Inc acquired a new stake in Mr. Cooper Group in the 4th quarter worth about $48,000. ORG Partners LLC purchased a new stake in Mr. Cooper Group during the 4th quarter worth approximately $51,000. Blue Trust Inc. raised its holdings in shares of Mr. Cooper Group by 38.8% during the fourth quarter. Blue Trust Inc. now owns 794 shares of the company’s stock valued at $76,000 after acquiring an additional 222 shares during the last quarter. Finally, Sage Rhino Capital LLC purchased a new position in shares of Mr. Cooper Group in the fourth quarter valued at approximately $201,000. 89.82% of the stock is owned by hedge funds and other institutional investors.

Mr. Cooper Group Stock Performance

COOP stock opened at $113.61 on Thursday. Mr. Cooper Group Inc. has a one year low of $74.49 and a one year high of $137.60. The company has a fifty day moving average of $109.82 and a 200-day moving average of $100.77. The stock has a market capitalization of $7.23 billion, a PE ratio of 11.16, a price-to-earnings-growth ratio of 0.32 and a beta of 1.17.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on COOP shares. Piper Sandler lowered shares of Mr. Cooper Group from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $125.00 to $143.00 in a research report on Friday, April 4th. Barclays upped their price target on Mr. Cooper Group from $130.00 to $147.00 and gave the company an “overweight” rating in a research report on Tuesday. JMP Securities reiterated a “market outperform” rating and set a $115.00 price objective on shares of Mr. Cooper Group in a research report on Thursday, February 13th. Keefe, Bruyette & Woods upped their target price on Mr. Cooper Group from $115.00 to $143.00 and gave the company a “market perform” rating in a report on Tuesday. Finally, UBS Group lifted their price target on Mr. Cooper Group from $122.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $119.78.

Insiders Place Their Bets

In other news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $112.24, for a total transaction of $3,367,200.00. Following the completion of the sale, the chief executive officer now directly owns 698,821 shares in the company, valued at approximately $78,435,669.04. This trade represents a 4.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.