Russell Investments Group Ltd. sells 32,477 shares of Mr. Cooper Group Inc. (NASDAQ: COOP)

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Russell Investments Group Ltd. reduced its position in Mr. Cooper Group Inc. (NASDAQ: COOP – Get Rating) by 45.3% in Q1, according to its most recent Form 13F filed with the Securities and Exchange Commission. The institutional investor held 39,206 shares of the company after selling 32,477 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.05% of Mr. Cooper Group worth $1,790,000 when last filed with the SEC.

Several other hedge funds and other institutional investors also changed their positions in COOP. Cambridge Investment Research Advisors Inc. increased its position in Mr. Cooper Group by 5.4% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 9,905 shares of the company worth $412,000 after purchasing an additional 505 shares during the period. Mutual of America Capital Management LLC increased its position in Mr. Cooper Group by 5.5% during the first quarter. Mutual of America Capital Management LLC now owns 10,825 shares of the company worth $494,000 after purchasing an additional 561 shares during the period. James Investment Research Inc. bought a new position in Mr. Cooper Group during the first quarter worth $26,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Mr. Cooper Group by 10.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,960 shares of the company worth $331,000 after purchasing an additional 765 shares during the period. Finally, Natixis Advisors LP increased its position in Mr. Cooper Group by 7.9% during the fourth quarter. Natixis Advisors LP now owns 12,116 shares of the company worth $504,000 after purchasing an additional 883 shares during the period. 83.01% of the shares are held by institutional investors.

Insider buying and selling

In related news, CEO Jesse K. Bray sold 46,000 shares in a trade that took place on Tuesday, June 21. The shares were sold at an average price of $38.32, for a total transaction of $1,762,720.00. Following the sale, the CEO now owns 654,767 shares of the company, valued at approximately $25,090,671.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. In the past 90 days, insiders have sold 138,000 shares of the company worth $5,566,000. Company insiders own 2.59% of the company’s shares.

Mr. Cooper Group grows by 1.2%

Shares of COOP opened at $47.21 on Wednesday. Mr. Cooper Group Inc. has a 12-month low of $35.81 and a 12-month high of $52.34. The company’s 50-day moving average is $40.67 and its 200-day moving average is $43.63. The stock has a market capitalization of $3.38 billion, a PE ratio of 2.97 and a beta of 1.49.

Mr. Cooper Group (NASDAQ:COOP – Get Rating) last released its quarterly results on Wednesday, July 27. The company reported earnings per share (EPS) of $0.17 for the quarter, beating the consensus estimate of $0.02 by $0.15. The company posted revenue of $599.00 million for the quarter, versus analyst estimates of $434.70 million. Mr. Cooper Group had a net margin of 39.35% and a return on equity of 11.01%. Equity research analysts expect Mr. Cooper Group Inc. to post earnings per share of 2.84 for the current fiscal year.

Analysts set new price targets

A number of research firms commented on COOP. Credit Suisse Group cut its price target on Mr. Cooper Group shares to $55.00 in a Friday, July 22 research report. BTIG Research launched coverage on Mr. Cooper Group’s shares in a report on Wednesday, April 20. They gave the company a “neutral” rating. TheStreet upgraded Mr Cooper Group’s shares from a ‘c+’ rating to a ‘b’ rating in a report on Wednesday May 4. Finally, Barclays lowered its price target on Mr. Cooper Group shares from $44.00 to $43.00 and set an “equal weight” rating on the stock in a Monday July 11 report. Two equity research analysts gave the stock a hold rating and two gave the company a buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.25.

Mr. Cooper Group Company Profile

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Mr. Cooper Group Inc provides maintenance, origination and transaction 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 the underlying mortgage loans, including the collection and disbursement of payments from borrowers, investor reporting, customer service and loan modification.

See also

Institutional ownership by quarter for Mr. Cooper Group (NASDAQ:COOP)



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