Bridgewater Advisors Inc. Sells 7,907 Shares of Mr. Cooper Group Inc $COOP

Bridgewater Advisors Inc. cut its position in shares of Mr. Cooper Group Inc (NASDAQ:COOP) by 23.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,714 shares of the company’s stock after selling 7,907 shares during the quarter. Bridgewater Advisors Inc.’s holdings in Mr. Cooper Group were worth $4,078,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in COOP. Alpine Associates Management Inc. grew its position in Mr. Cooper Group by 287.7% during the second quarter. Alpine Associates Management Inc. now owns 347,340 shares of the company’s stock worth $51,827,000 after buying an additional 257,740 shares in the last quarter. Invesco Ltd. boosted its holdings in Mr. Cooper Group by 11.8% during the first quarter. Invesco Ltd. now owns 2,013,536 shares of the company’s stock valued at $240,819,000 after purchasing an additional 213,167 shares in the last quarter. Nuveen LLC bought a new stake in shares of Mr. Cooper Group in the 1st quarter valued at approximately $24,037,000. Credit Industriel ET Commercial bought a new stake in shares of Mr. Cooper Group in the 2nd quarter valued at approximately $14,832,000. Finally, Envestnet Asset Management Inc. grew its stake in shares of Mr. Cooper Group by 359.1% in the 1st quarter. Envestnet Asset Management Inc. now owns 113,824 shares of the company’s stock valued at $13,613,000 after purchasing an additional 89,031 shares during the period. 89.82% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on COOP shares. Jefferies Financial Group upped their price objective on Mr. Cooper Group from $110.00 to $150.00 and gave the company a “hold” rating in a research note on Tuesday, July 22nd. UBS Group set a $176.00 price objective on Mr. Cooper Group in a research note on Tuesday, August 5th. Weiss Ratings reiterated a “buy (b)” rating on shares of Mr. Cooper Group in a research note on Saturday, September 27th. Finally, Barclays upped their price objective on Mr. Cooper Group from $147.00 to $156.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $149.67.

Mr. Cooper Group Stock Performance

Shares of COOP stock opened at $210.79 on Monday. The firm’s 50-day moving average is $208.94 and its 200-day moving average is $168.02. The stock has a market cap of $13.49 billion, a price-to-earnings ratio of 24.12 and a beta of 1.08. Mr. Cooper Group Inc has a 52-week low of $84.68 and a 52-week high of $234.73.

Mr. Cooper Group Dividend Announcement

The business also recently declared a special dividend, which was paid on Tuesday, October 7th. Shareholders of record on Monday, September 29th were issued a $0.01 dividend. The ex-dividend date of this dividend was Monday, September 29th. Mr. Cooper Group’s dividend payout ratio is currently 22.88%.

Insiders Place Their Bets

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $182.43, for a total value of $5,472,900.00. Following the transaction, the chief executive officer directly owned 633,187 shares of the company’s stock, valued at $115,512,304.41. This represents a 4.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.73% of the stock is currently owned by corporate insiders.

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.