State of New Jersey Common Pension Fund D Sells 15,802 Shares of Mr. Cooper Group Inc. (NASDAQ:COOP)

State of New Jersey Common Pension Fund D trimmed its position in Mr. Cooper Group Inc. (NASDAQ:COOP) by 40.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,916 shares of the company’s stock after selling 15,802 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Mr. Cooper Group were worth $1,861,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Blue Trust Inc. lifted its stake in shares of Mr. Cooper Group by 77.1% during the 2nd quarter. Blue Trust Inc. now owns 333 shares of the company’s stock worth $26,000 after purchasing an additional 145 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of 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 stake in shares of Mr. Cooper Group by 34.5% during 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 last quarter. Quest Partners LLC purchased a new stake in shares of Mr. Cooper Group during the 4th quarter worth $61,000. Finally, Perkins Coie Trust Co purchased a new stake in shares of Mr. Cooper Group during the 2nd quarter worth $81,000. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Jesse K. Bray sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $80.93, for a total value of $2,023,250.00. Following the sale, the chief executive officer now owns 259,631 shares in the company, valued at approximately $21,011,936.83. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.33% of the company’s stock.

Wall Street Analysts Forecast Growth

COOP has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods cut Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 price target for the company. in a research note on Monday, July 22nd. Barclays increased their price target on Mr. Cooper Group from $94.00 to $103.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Piper Sandler increased their price target on Mr. Cooper Group from $91.00 to $106.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, Wedbush increased their price target on Mr. Cooper Group from $100.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Mr. Cooper Group currently has a consensus rating of “Moderate Buy” and an average price target of $95.57.

Mr. Cooper Group Stock Down 1.8 %

COOP opened at $90.72 on Monday. The business has a 50 day moving average price of $89.77 and a two-hundred day moving average price of $83.11. The company has a market cap of $5.87 billion, a PE ratio of 9.50 and a beta of 1.41. Mr. Cooper Group Inc. has a 52 week low of $52.46 and a 52 week high of $96.00.

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