State of Tennessee Treasury Department decreased its stake in Mr. Cooper Group Inc. (NASDAQ:COOP) by 10.6% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 41,337 shares of the company’s stock after selling 4,926 shares during the period. State of Tennessee Treasury Department’s holdings in Mr. Cooper Group were worth $1,437,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. The PNC Financial Services Group Inc. grew its stake in Mr. Cooper Group by 9.4% during the first quarter. The PNC Financial Services Group Inc. now owns 5,993 shares of the company’s stock worth $208,000 after buying an additional 517 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in Mr. Cooper Group by 2.1% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 29,743 shares of the company’s stock worth $1,034,000 after buying an additional 600 shares in the last quarter. Sowell Financial Services LLC grew its holdings in Mr. Cooper Group by 8.1% during the 1st quarter. Sowell Financial Services LLC now owns 9,617 shares of the company’s stock worth $315,000 after acquiring an additional 720 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of Mr. Cooper Group by 0.3% in the fourth quarter. Alliancebernstein L.P. now owns 262,844 shares of the company’s stock worth $8,156,000 after acquiring an additional 800 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Mr. Cooper Group by 2.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 43,415 shares of the company’s stock worth $1,347,000 after purchasing an additional 1,148 shares in the last quarter. Hedge funds and other institutional investors own 83.23% of the company’s stock.
Shares of NASDAQ:COOP opened at $33.62 on Friday. The company has a 50 day moving average price of $33.36. Mr. Cooper Group Inc. has a fifty-two week low of $11.06 and a fifty-two week high of $37.90. The firm has a market cap of $2.90 billion, a P/E ratio of 3.09 and a beta of 1.65. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.45.
In related news, major shareholder Wand Investors Corp Kkr sold 3,700,000 shares of the stock in a transaction that occurred on Friday, March 26th. The stock was sold at an average price of $32.25, for a total transaction of $119,325,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert H. Gidel sold 6,905 shares of the firm’s stock in a transaction that occurred on Thursday, May 20th. The stock was sold at an average price of $33.13, for a total transaction of $228,762.65. Following the sale, the director now owns 3,451 shares in the company, valued at $114,331.63. The disclosure for this sale can be found here. Company insiders own 2.17% of the company’s stock.
Several research analysts recently weighed in on the stock. Wedbush boosted their price objective on shares of Mr. Cooper Group from $34.00 to $43.00 in a research report on Thursday, March 4th. Credit Suisse Group upped their price target on Mr. Cooper Group from $34.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, February 24th. Barclays reiterated an “equal weight” rating and issued a $38.00 price objective (down from $44.00) on shares of Mr. Cooper Group in a research report on Tuesday, April 27th. Zacks Investment Research cut Mr. Cooper Group from a “buy” rating to a “hold” rating in a report on Wednesday, May 5th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $38.00 target price (down previously from $39.00) on shares of Mr. Cooper Group in a research note on Tuesday, April 13th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $34.56.
Mr. Cooper Group Profile
Mr. Cooper Group Inc provides servicing, origination, and transaction-based services related to single-family residences in the United States. The company operates through three segments: Servicing, Originations, and Xome. The Servicing segment performs activities for underlying mortgages, including collecting and disbursing borrower payments, investor reporting, customer service, and modifying loans.
Further Reading: Capital Gains Distribution
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