K2 Principal Fund L.P. Sells 67,301 Shares of Mr. Cooper Group Inc. (NASDAQ:COOP)

K2 Principal Fund L.P. trimmed its stake in Mr. Cooper Group Inc. (NASDAQ:COOP) by 74.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,172 shares of the company’s stock after selling 67,301 shares during the period. K2 Principal Fund L.P.’s holdings in Mr. Cooper Group were worth $1,882,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of COOP. Blue Trust Inc. raised its position in shares of Mr. Cooper Group by 77.1% during the second quarter. Blue Trust Inc. now owns 333 shares of the company’s stock worth $26,000 after acquiring an additional 145 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Mr. Cooper Group by 8,275.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company’s stock worth $27,000 after purchasing an additional 331 shares during the last quarter. CWM LLC lifted its position in shares of Mr. Cooper Group by 34.5% in the 2nd quarter. CWM LLC now owns 601 shares of the company’s stock worth $49,000 after purchasing an additional 154 shares during the period. Quest Partners LLC bought a new stake in shares of Mr. Cooper Group in the 4th quarter valued at $61,000. Finally, Perkins Coie Trust Co acquired a new stake in shares of Mr. Cooper Group during the second quarter worth $81,000. 89.82% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Jesse K. Bray sold 25,000 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $80.93, for a total transaction of $2,023,250.00. Following the completion of the transaction, the chief executive officer now directly owns 259,631 shares of the company’s stock, valued at approximately $21,011,936.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Piper Sandler upped their price target on shares of Mr. Cooper Group from $91.00 to $106.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Barclays upped their target price on Mr. Cooper Group from $94.00 to $103.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods downgraded Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 target price for the company. in a report on Monday, July 22nd. Finally, Wedbush increased their price target on Mr. Cooper Group from $100.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.57.

Mr. Cooper Group Stock Performance

Shares of Mr. Cooper Group stock opened at $91.93 on Tuesday. Mr. Cooper Group Inc. has a 52 week low of $52.46 and a 52 week high of $96.00. The stock has a 50 day moving average price of $89.88 and a two-hundred day moving average price of $83.25. The stock has a market capitalization of $5.95 billion, a PE ratio of 9.63 and a beta of 1.41.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings data on Thursday, July 25th. The company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.19. The firm had revenue of $583.00 million for the quarter, compared to the consensus estimate of $552.09 million. Mr. Cooper Group had a net margin of 33.22% and a return on equity of 14.10%. The business’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.66 earnings per share. Research analysts forecast that Mr. Cooper Group Inc. will post 9.86 EPS for the current year.

About Mr. Cooper Group

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.