Arizona State Retirement System lessened its position in Mr. Cooper Group Inc. (NASDAQ:COOP – Free Report) by 3.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 18,711 shares of the company’s stock after selling 713 shares during the period. Arizona State Retirement System’s holdings in Mr. Cooper Group were worth $948,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in COOP. Federated Hermes Inc. lifted its stake in shares of Mr. Cooper Group by 55.1% in the third quarter. Federated Hermes Inc. now owns 752 shares of the company’s stock valued at $30,000 after purchasing an additional 267 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in shares of Mr. Cooper Group by 95.0% in the first quarter. Nomura Asset Management Co. Ltd. now owns 780 shares of the company’s stock valued at $32,000 after purchasing an additional 380 shares during the period. Point72 Middle East FZE acquired a new stake in shares of Mr. Cooper Group in the fourth quarter valued at about $38,000. Public Employees Retirement System of Ohio lifted its stake in shares of Mr. Cooper Group by 54.8% in the third quarter. Public Employees Retirement System of Ohio now owns 986 shares of the company’s stock valued at $40,000 after purchasing an additional 349 shares during the period. Finally, Bartlett & Co. LLC acquired a new stake in shares of Mr. Cooper Group in the second quarter valued at about $42,000. Institutional investors and hedge funds own 80.46% of the company’s stock.
Analysts Set New Price Targets
Several analysts recently commented on COOP shares. Keefe, Bruyette & Woods upgraded shares of Mr. Cooper Group from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $62.00 to $65.00 in a research note on Monday, October 2nd. Piper Sandler raised their target price on shares of Mr. Cooper Group from $77.00 to $79.00 and gave the company an “overweight” rating in a report on Thursday, October 26th. Compass Point raised their target price on shares of Mr. Cooper Group from $64.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, September 19th. Finally, Wedbush raised their target price on shares of Mr. Cooper Group from $55.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, July 27th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.50.
Mr. Cooper Group Stock Performance
Mr. Cooper Group stock opened at $56.53 on Wednesday. Mr. Cooper Group Inc. has a 1 year low of $37.54 and a 1 year high of $60.68. The firm has a 50 day moving average price of $54.71 and a 200 day moving average price of $51.62. The company has a market cap of $3.72 billion, a price-to-earnings ratio of 8.49 and a beta of 1.57.
Insider Activity at Mr. Cooper Group
In related news, CEO Jesse K. Bray sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $56.34, for a total value of $1,408,500.00. Following the completion of the sale, the chief executive officer now directly owns 466,051 shares in the company, valued at $26,257,313.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Mr. Cooper Group news, CEO Jesse K. Bray sold 25,000 shares of Mr. Cooper Group stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $56.34, for a total transaction of $1,408,500.00. Following the transaction, the chief executive officer now directly owns 466,051 shares of the company’s stock, valued at $26,257,313.34. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Shveta Mujumdar sold 1,800 shares of Mr. Cooper Group stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $56.88, for a total transaction of $102,384.00. Following the transaction, the director now directly owns 22,244 shares in the company, valued at $1,265,238.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 72,800 shares of company stock worth $4,028,804. 3.11% of the stock is owned by company insiders.
Mr. Cooper Group Profile
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.
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