Lazard Asset Management LLC Cuts Holdings in Mr. Cooper Group Inc. (NASDAQ:COOP)

Lazard Asset Management LLC cut its position in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) by 57.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,959 shares of the company’s stock after selling 20,177 shares during the quarter. Lazard Asset Management LLC’s holdings in Mr. Cooper Group were worth $1,435,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB raised its position in Mr. Cooper Group by 9,175.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 4,916 shares of the company’s stock worth $472,000 after acquiring an additional 4,863 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Mr. Cooper Group in the fourth quarter worth about $1,603,000. JPMorgan Chase & Co. raised its position in Mr. Cooper Group by 15.5% in the fourth quarter. JPMorgan Chase & Co. now owns 644,159 shares of the company’s stock worth $61,846,000 after acquiring an additional 86,510 shares during the period. Spire Wealth Management bought a new stake in Mr. Cooper Group in the fourth quarter worth about $1,480,000. Finally, F M Investments LLC bought a new stake in Mr. Cooper Group in the fourth quarter worth about $313,000. Institutional investors own 89.82% of the company’s stock.

Mr. Cooper Group Trading Up 1.6%

Mr. Cooper Group stock opened at $131.81 on Monday. The firm’s 50 day simple moving average is $115.07 and its 200 day simple moving average is $105.59. The firm has a market capitalization of $8.43 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 0.32 and a beta of 1.06. Mr. Cooper Group Inc. has a 1-year low of $78.20 and a 1-year high of $138.35.

Mr. Cooper Group (NASDAQ:COOP) last posted its earnings results on Wednesday, April 23rd. The company reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.16. The business had revenue of $560.00 million for the quarter, compared to analyst estimates of $620.57 million. Mr. Cooper Group had a net margin of 30.07% and a return on equity of 14.76%. Mr. Cooper Group’s revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.73 EPS. Research analysts forecast that Mr. Cooper Group Inc. will post 13.17 earnings per share for the current year.

Insider Buying and Selling

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $112.24, for a total value of $3,367,200.00. Following the completion of the transaction, the chief executive officer now owns 698,821 shares of the company’s stock, valued at $78,435,669.04. The trade was a 4.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.73% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

COOP has been the topic of several research reports. UBS Group lifted their price objective on shares of Mr. Cooper Group from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, April 16th. Piper Sandler lowered shares of Mr. Cooper Group from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $125.00 to $143.00 in a research report on Friday, April 4th. JMP Securities reissued a “market outperform” rating and issued a $115.00 price target on shares of Mr. Cooper Group in a research report on Thursday, February 13th. Citizens Jmp lowered shares of Mr. Cooper Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 1st. Finally, Barclays boosted their price target on shares of Mr. Cooper Group from $130.00 to $147.00 and gave the company an “overweight” rating in a research report on Tuesday, April 8th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.14.

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.