Comerica Bank reduced its position in Mr. Cooper Group Inc. (NASDAQ:COOP – Get Rating) by 12.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,760 shares of the company's stock after selling 8,135 shares during the period. Comerica Bank owned 0.08% of Mr. Cooper Group worth $2,388,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Federated Hermes Inc. grew its stake in Mr. Cooper Group by 91.5% in the first quarter. Federated Hermes Inc. now owns 879 shares of the company's stock worth $40,000 after purchasing an additional 420 shares in the last quarter. EMC Capital Management raised its stake in shares of Mr. Cooper Group by 51.4% during the 2nd quarter. EMC Capital Management now owns 4,083 shares of the company's stock valued at $150,000 after buying an additional 1,386 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Mr. Cooper Group during the 2nd quarter valued at about $182,000. Massmutual Trust Co. FSB ADV acquired a new stake in shares of Mr. Cooper Group during the 3rd quarter valued at about $193,000. Finally, Evergreen Capital Management LLC acquired a new stake in Mr. Cooper Group in the 1st quarter worth about $201,000. 83.91% of the stock is currently owned by hedge funds and other institutional investors.
Get Mr. Cooper Group alerts:Insider Transactions at Mr. Cooper Group
In other news, CEO Jesse K. Bray sold 21,000 shares of the business's stock in a transaction on Monday, November 28th. The stock was sold at an average price of $44.24, for a total transaction of $929,040.00. Following the completion of the sale, the chief executive officer now owns 718,291 shares in the company, valued at $31,777,193.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 63,000 shares of company stock valued at $2,608,200. 2.59% of the stock is owned by corporate insiders.
Mr. Cooper Group Price Performance
Shares of NASDAQ COOP opened at $43.26 on Thursday. Mr. Cooper Group Inc. has a 1-year low of $35.81 and a 1-year high of $52.34. The firm has a market capitalization of $3.05 billion, a PE ratio of 3.05 and a beta of 1.45. The business's fifty day moving average price is $42.57 and its two-hundred day moving average price is $42.32.Mr. Cooper Group (NASDAQ:COOP – Get Rating) last announced its quarterly earnings data on Wednesday, October 26th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.08. Mr. Cooper Group had a return on equity of 6.35% and a net margin of 38.66%. The firm had revenue of $510.00 million during the quarter, compared to the consensus estimate of $431.60 million. Equities research analysts expect that Mr. Cooper Group Inc. will post 2.47 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the stock. Wedbush reduced their price target on shares of Mr. Cooper Group from $60.00 to $55.00 in a research report on Thursday, October 27th. Barclays boosted their target price on shares of Mr. Cooper Group from $40.00 to $41.00 in a research note on Friday, January 6th. Compass Point reduced their target price on shares of Mr. Cooper Group to $64.00 in a report on Tuesday, November 1st. Finally, Piper Sandler lifted their price objective on Mr. Cooper Group from $63.00 to $64.00 and gave the company an "overweight" rating in a report on Thursday, November 10th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $55.80.
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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