Maryland State Retirement & Pension System Sells 1,394 Shares of Mr. Cooper Group Inc. (NASDAQ:COOP)

Posted by Defense World Staff on Sep 23rd, 2023

Maryland State Retirement & Pension System reduced its stake in Mr. Cooper Group Inc. (NASDAQ:COOP – Free Report) by 5.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,513 shares of the company’s stock after selling 1,394 shares during the period. Maryland State Retirement & Pension System’s holdings in Mr. Cooper Group were worth $1,343,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. BlueCrest Capital Management Ltd boosted its stake in shares of Mr. Cooper Group by 56.4% during the first quarter. BlueCrest Capital Management Ltd now owns 817,222 shares of the company’s stock valued at $33,482,000 after purchasing an additional 294,812 shares in the last quarter. Tejara Capital Ltd bought a new position in shares of Mr. Cooper Group during the first quarter valued at approximately $5,121,000. Vestor Capital LLC boosted its stake in shares of Mr. Cooper Group by 367.6% during the first quarter. Vestor Capital LLC now owns 5,822 shares of the company’s stock valued at $167,000 after purchasing an additional 4,577 shares in the last quarter. Cerity Partners LLC bought a new position in shares of Mr. Cooper Group during the first quarter valued at approximately $773,000. Finally, CX Institutional bought a new position in shares of Mr. Cooper Group during the first quarter valued at approximately $4,249,000. 80.46% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on COOP. Compass Point increased their target price on shares of Mr. Cooper Group from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Tuesday. Piper Sandler increased their target price on shares of Mr. Cooper Group from $63.00 to $72.00 in a research report on Thursday, July 27th. Finally, Wedbush increased their target price on shares of Mr. Cooper Group from $55.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Mr. Cooper Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.00.

Get Our Latest Research Report on COOP

Mr. Cooper Group Trading Up 0.8 %

NASDAQ COOP opened at $53.27 on Friday. The company has a fifty day simple moving average of $55.95 and a two-hundred day simple moving average of $48.97. The stock has a market cap of $3.56 billion, a P/E ratio of 12.84 and a beta of 1.58. Mr. Cooper Group Inc. has a 12-month low of $37.54 and a 12-month high of $60.68.

Mr. Cooper Group (NASDAQ:COOP – Get Free Report) last issued its earnings results on Wednesday, July 26th. The company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.44. Mr. Cooper Group had a net margin of 17.99% and a return on equity of 7.42%. The firm had revenue of $486.00 million during the quarter, compared to analysts’ expectations of $422.27 million. As a group, sell-side analysts forecast that Mr. Cooper Group Inc. will post 6.28 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Jesse K. Bray sold 21,000 shares of the firm’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $50.22, for a total transaction of $1,054,620.00. Following the completion of the transaction, the chief executive officer now owns 559,821 shares of the company’s stock, valued at $28,114,210.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Michael R. Rawls sold 33,000 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $59.17, for a total transaction of $1,952,610.00. Following the completion of the transaction, the chief executive officer now owns 82,263 shares of the company’s stock, valued at $4,867,501.71. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jesse K. Bray sold 21,000 shares of the firm’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $50.22, for a total transaction of $1,054,620.00. Following the sale, the chief executive officer now owns 559,821 shares in the company, valued at approximately $28,114,210.62. The disclosure for this sale can be found here. Insiders sold a total of 96,000 shares of company stock valued at $5,411,520 over the last 90 days. Insiders own 3.11% of the company’s stock.

Mr. Cooper Group Profile

(Free Report)

Mr. Cooper Group Inc engages in non-banking services for mortgage loans the United States. The company operates through two segments: Servicing and Originations. The Servicing segment performs activities for underlying mortgages, including collecting and disbursing borrower payments, investor reporting, customer service, and modifying loans.