Beirne Wealth Consulting Services LLC reduced its stake in shares of Mr. Cooper Group Inc. (NASDAQ:COOP – Get Rating) by 53.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,770 shares of the company's stock after selling 17,000 shares during the quarter. Beirne Wealth Consulting Services LLC's holdings in Mr. Cooper Group were worth $543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also added to or reduced their stakes in the company. AlphaCrest Capital Management LLC grew its holdings in shares of Mr. Cooper Group by 163.2% in the first quarter. AlphaCrest Capital Management LLC now owns 69,588 shares of the company's stock valued at $3,178,000 after purchasing an additional 43,144 shares in the last quarter. Long Focus Capital Management LLC bought a new stake in shares of Mr. Cooper Group during the fourth quarter worth $2,289,000. State Street Corp raised its holdings in shares of Mr. Cooper Group by 7.0% in the fourth quarter. State Street Corp now owns 3,378,971 shares of the company's stock valued at $140,599,000 after acquiring an additional 221,443 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Mr. Cooper Group by 2.5% in the first quarter. Bank of New York Mellon Corp now owns 814,778 shares of the company's stock valued at $37,210,000 after acquiring an additional 19,733 shares in the last quarter. Finally, Navellier & Associates Inc. raised its holdings in shares of Mr. Cooper Group by 8.0% in the fourth quarter. Navellier & Associates Inc. now owns 20,842 shares of the company's stock valued at $867,000 after acquiring an additional 1,542 shares in the last quarter. 86.68% of the stock is owned by hedge funds and other institutional investors.
Get Mr. Cooper Group alerts:Wall Street Analysts Forecast Growth
COOP has been the topic of a number of research analyst reports. Barclays dropped their price target on Mr. Cooper Group from $44.00 to $43.00 and set an "equal weight" rating on the stock in a research note on Monday, July 11th. Credit Suisse Group dropped their price target on Mr. Cooper Group to $55.00 in a research note on Friday, July 22nd. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $57.25.
Mr. Cooper Group Stock Performance
Shares of NASDAQ COOP traded up $0.20 during mid-day trading on Wednesday, reaching $43.63. 10,884 shares of the company's stock were exchanged, compared to its average volume of 504,123. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of 2.73 and a beta of 1.50. Mr. Cooper Group Inc. has a 52-week low of $35.81 and a 52-week high of $52.34. The company's 50-day moving average is $43.20 and its 200-day moving average is $43.06.Mr. Cooper Group (NASDAQ:COOP – Get Rating) last posted its earnings results on Wednesday, July 27th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.15. Mr. Cooper Group had a return on equity of 11.01% and a net margin of 39.35%. The firm had revenue of $599.00 million for the quarter, compared to analyst estimates of $434.70 million. As a group, equities analysts predict that Mr. Cooper Group Inc. will post 2.84 earnings per share for the current fiscal year.
Insider Buying and Selling at Mr. Cooper Group
In other news, CEO Jesse K. Bray sold 46,000 shares of the stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $43.41, for a total value of $1,996,860.00. Following the transaction, the chief executive officer now owns 562,767 shares in the company, valued at approximately $24,429,715.47. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.59% of the stock is owned by corporate insiders.
Mr. Cooper Group Company Profile
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Mr. Cooper Group Inc provides servicing, origination, and transaction-based services related to single-family residences in 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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