Summit Global Investments Sells 1,411 Shares of Mr. Cooper Group Inc. (NASDAQ:COOP)

Summit Global Investments decreased its holdings in Mr. Cooper Group Inc. (NASDAQ:COOP) by 12.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,240 shares of the company’s stock after selling 1,411 shares during the quarter. Summit Global Investments’ holdings in Mr. Cooper Group were worth $667,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in COOP. SG Americas Securities LLC acquired a new stake in shares of Mr. Cooper Group during the third quarter worth approximately $198,000. Xponance Inc. raised its position in Mr. Cooper Group by 47.1% in the 3rd quarter. Xponance Inc. now owns 5,837 shares of the company’s stock valued at $313,000 after purchasing an additional 1,868 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Mr. Cooper Group by 22.0% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 23,314 shares of the company’s stock worth $1,249,000 after purchasing an additional 4,211 shares in the last quarter. Bailard Inc. bought a new stake in shares of Mr. Cooper Group during the third quarter worth $434,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Mr. Cooper Group by 14.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,380 shares of the company’s stock valued at $556,000 after buying an additional 1,288 shares in the last quarter. 89.82% of the stock is owned by institutional investors.

Mr. Cooper Group Stock Up 1.8 %

Shares of Mr. Cooper Group stock opened at $80.10 on Friday. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 8.39 and a beta of 1.41. Mr. Cooper Group Inc. has a twelve month low of $41.74 and a twelve month high of $81.98. The company has a 50-day simple moving average of $75.67 and a two-hundred day simple moving average of $67.55.

Mr. Cooper Group (NASDAQ:COOP) last released its earnings results on Wednesday, April 24th. The company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.17. Mr. Cooper Group had a return on equity of 13.31% and a net margin of 31.75%. The firm had revenue of $564.00 million during the quarter, compared to the consensus estimate of $498.15 million. On average, sell-side analysts anticipate that Mr. Cooper Group Inc. will post 9.48 earnings per share for the current fiscal year.

Insider Activity at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $71.61, for a total transaction of $1,790,250.00. Following the completion of the transaction, the chief executive officer now directly owns 366,051 shares in the company, valued at approximately $26,212,912.11. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, President Michael S. Weinbach acquired 17,000 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was bought at an average cost of $71.16 per share, for a total transaction of $1,209,720.00. Following the completion of the transaction, the president now directly owns 17,000 shares in the company, valued at approximately $1,209,720. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jesse K. Bray sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $71.61, for a total value of $1,790,250.00. Following the sale, the chief executive officer now directly owns 366,051 shares of the company’s stock, valued at approximately $26,212,912.11. The disclosure for this sale can be found here. Insiders have sold 75,000 shares of company stock valued at $5,712,250 over the last ninety days. 2.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

COOP has been the topic of several research reports. Deutsche Bank Aktiengesellschaft upped their price target on shares of Mr. Cooper Group from $88.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Jefferies Financial Group increased their price target on shares of Mr. Cooper Group from $74.00 to $80.00 and gave the company a “hold” rating in a research note on Friday, April 19th. Wedbush boosted their price objective on shares of Mr. Cooper Group from $85.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $92.00 price objective (up previously from $86.00) on shares of Mr. Cooper Group in a report on Thursday, April 25th. Finally, Barclays lifted their target price on Mr. Cooper Group from $85.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $82.22.

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.