Ameritas Investment Partners Inc. Cuts Stock Holdings in Mr. Cooper Group Inc. (NASDAQ:COOP)

Ameritas Investment Partners Inc. lowered its stake in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) by 2.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,497 shares of the company’s stock after selling 185 shares during the period. Ameritas Investment Partners Inc.’s holdings in Mr. Cooper Group were worth $506,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Hillsdale Investment Management Inc. raised its stake in Mr. Cooper Group by 8.4% during the first quarter. Hillsdale Investment Management Inc. now owns 81,520 shares of the company’s stock worth $6,354,000 after purchasing an additional 6,350 shares during the period. Cercano Management LLC raised its stake in Mr. Cooper Group by 39.1% during the first quarter. Cercano Management LLC now owns 502,618 shares of the company’s stock worth $39,179,000 after purchasing an additional 141,332 shares during the period. Vanguard Group Inc. raised its stake in Mr. Cooper Group by 0.6% during the first quarter. Vanguard Group Inc. now owns 7,668,898 shares of the company’s stock worth $597,791,000 after purchasing an additional 42,860 shares during the period. HBK Sorce Advisory LLC purchased a new position in Mr. Cooper Group during the first quarter worth approximately $528,000. Finally, State Board of Administration of Florida Retirement System raised its stake in Mr. Cooper Group by 6.1% during the first quarter. State Board of Administration of Florida Retirement System now owns 19,838 shares of the company’s stock worth $1,546,000 after purchasing an additional 1,140 shares during the period. Hedge funds and other institutional investors own 89.82% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Michael R. Rawls sold 27,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $82.18, for a total value of $2,218,860.00. Following the transaction, the chief executive officer now directly owns 57,623 shares in the company, valued at approximately $4,735,458.14. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Michael R. Rawls sold 27,000 shares of Mr. Cooper Group stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $82.18, for a total value of $2,218,860.00. Following the sale, the chief executive officer now directly owns 57,623 shares in the company, valued at approximately $4,735,458.14. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jesse K. Bray sold 25,000 shares of Mr. Cooper Group stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $81.42, for a total transaction of $2,035,500.00. Following the completion of the sale, the chief executive officer now owns 284,631 shares in the company, valued at $23,174,656.02. The disclosure for this sale can be found here. Insiders sold a total of 102,000 shares of company stock valued at $8,247,360 in the last ninety days. Corporate insiders own 2.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on COOP. Wedbush raised their target price on shares of Mr. Cooper Group from $85.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Mr. Cooper Group from $88.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Keefe, Bruyette & Woods downgraded shares of Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 target price on the stock. in a research note on Monday. Jefferies Financial Group raised their target price 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. Finally, Barclays raised their target price on shares of Mr. Cooper Group from $85.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $85.50.

Mr. Cooper Group Price Performance

COOP traded down $1.57 during trading hours on Wednesday, reaching $87.18. 274,415 shares of the stock traded hands, compared to its average volume of 446,812. The company has a market cap of $5.64 billion, a price-to-earnings ratio of 9.12 and a beta of 1.39. Mr. Cooper Group Inc. has a fifty-two week low of $52.46 and a fifty-two week high of $90.33. The firm’s fifty day simple moving average is $82.92 and its two-hundred day simple moving average is $76.55.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.11 by $0.17. The company had revenue of $564.00 million during the quarter, compared to analyst estimates of $498.15 million. Mr. Cooper Group had a net margin of 31.75% and a return on equity of 13.31%. On average, research analysts predict that Mr. Cooper Group Inc. will post 9.37 earnings per share for the current year.

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.