Charles Schwab Investment Management Inc. Sells 26,396 Shares of Mr. Cooper Group Inc (NASDAQ:COOP)

Charles Schwab Investment Management Inc. cut its holdings in Mr. Cooper Group Inc (NASDAQ:COOP) by 2.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 889,916 shares of the company’s stock after selling 26,396 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.39% of Mr. Cooper Group worth $106,434,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. raised its stake in shares of Mr. Cooper Group by 13.9% during the first quarter. Assenagon Asset Management S.A. now owns 1,057,176 shares of the company’s stock valued at $126,438,000 after acquiring an additional 129,414 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Mr. Cooper Group by 16.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 871,902 shares of the company’s stock valued at $83,712,000 after acquiring an additional 125,897 shares during the last quarter. Northern Trust Corp raised its stake in shares of Mr. Cooper Group by 6.8% during the fourth quarter. Northern Trust Corp now owns 835,369 shares of the company’s stock valued at $80,204,000 after acquiring an additional 53,534 shares during the last quarter. Cercano Management LLC raised its stake in Mr. Cooper Group by 66.5% in the fourth quarter. Cercano Management LLC now owns 790,753 shares of the company’s stock worth $75,920,000 after buying an additional 315,801 shares in the last quarter. Finally, 140 Summer Partners LP bought a new position in Mr. Cooper Group in the fourth quarter worth about $69,959,000. 89.82% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $174.72, for a total transaction of $5,241,600.00. Following the sale, the chief executive officer owned 663,187 shares in the company, valued at $115,872,032.64. This represents a 4.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.33% of the company’s stock.

Mr. Cooper Group Stock Performance

Shares of COOP opened at $180.27 on Tuesday. The stock has a market cap of $11.54 billion, a PE ratio of 20.63 and a beta of 0.98. Mr. Cooper Group Inc has a fifty-two week low of $84.15 and a fifty-two week high of $193.86. The firm’s 50-day simple moving average is $153.12 and its two-hundred day simple moving average is $127.76.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $3.13 earnings per share for the quarter, missing analysts’ consensus estimates of $3.28 by ($0.15). The business had revenue of $608.00 million during the quarter, compared to analysts’ expectations of $669.23 million. Mr. Cooper Group had a return on equity of 15.66% and a net margin of 25.38%. Mr. Cooper Group’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same quarter last year, the company posted $3.10 EPS. Equities research analysts predict that Mr. Cooper Group Inc will post 13.17 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on COOP shares. Piper Sandler increased their price target on shares of Mr. Cooper Group from $143.00 to $158.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 1st. UBS Group set a $176.00 price target on shares of Mr. Cooper Group in a research note on Tuesday, August 5th. Barclays increased their price target on shares of Mr. Cooper Group from $147.00 to $156.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. Finally, Jefferies Financial Group increased their price target on shares of Mr. Cooper Group from $110.00 to $150.00 and gave the stock a “hold” rating in a research note on Tuesday, July 22nd. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $140.38.

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.