Assenagon Asset Management S.A. Sells 319,672 Shares of Mr. Cooper Group Inc. (NASDAQ:COOP)

Assenagon Asset Management S.A. reduced its stake in shares of Mr. Cooper Group Inc. (NASDAQ:COOP) by 25.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 927,762 shares of the company’s stock after selling 319,672 shares during the quarter. Assenagon Asset Management S.A. owned approximately 1.45% of Mr. Cooper Group worth $89,074,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Quarry LP bought a new position in Mr. Cooper Group in the second quarter worth approximately $29,000. Financial Management Professionals Inc. purchased a new position in Mr. Cooper Group in the 3rd quarter worth $30,000. Harvest Fund Management Co. Ltd lifted its holdings in shares of Mr. Cooper Group by 152.5% during the third quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock worth $41,000 after purchasing an additional 270 shares during the period. ORG Partners LLC purchased a new stake in shares of Mr. Cooper Group in the 4th quarter valued at $51,000. Finally, Harbor Capital Advisors Inc. purchased a new stake in Mr. Cooper Group in the third quarter valued at $52,000. 89.82% of the stock is currently owned by institutional investors.

Mr. Cooper Group Price Performance

Shares of COOP stock opened at $96.54 on Wednesday. Mr. Cooper Group Inc. has a 1-year low of $61.38 and a 1-year high of $103.05. The business’s fifty day moving average price is $96.33 and its 200 day moving average price is $91.88. The firm has a market capitalization of $6.18 billion, a PE ratio of 12.47 and a beta of 1.43.

Mr. Cooper Group (NASDAQ:COOP) last posted its earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.30. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%. The firm had revenue of $616.00 million during the quarter, compared to the consensus estimate of $548.09 million. During the same period last year, the firm posted $2.79 EPS. The firm’s revenue for the quarter was up 32.8% on a year-over-year basis. Equities research analysts expect that Mr. Cooper Group Inc. will post 10.16 earnings per share for the current fiscal year.

Insider Transactions at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $97.58, for a total transaction of $2,927,400.00. Following the sale, the chief executive officer now owns 788,821 shares in the company, valued at approximately $76,973,153.18. This represents a 3.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 90,000 shares of company stock valued at $8,414,400 in the last ninety days. Corporate insiders own 2.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on COOP shares. Compass Point boosted their target price on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Barclays upped their price target on Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Wedbush reissued an “outperform” rating and issued a $115.00 price objective on shares of Mr. Cooper Group in a report on Thursday, October 24th. JMP Securities began coverage on Mr. Cooper Group in a research note on Tuesday. They set an “outperform” rating and a $115.00 target price for the company. Finally, Citizens Jmp upgraded Mr. Cooper Group to a “strong-buy” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Mr. Cooper Group currently has a consensus rating of “Moderate Buy” and an average target price of $102.38.

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.