Mr. Cooper Group Inc. (NASDAQ:COOP) executive vice president and CEO of Xome, Michael R. Rawls, has sold a total of 27,000 shares of the company's common stock. The transactions were executed on May 7th, with the shares being sold at an average price of $82.18, amounting to a total value of approximately $2.2 million.
The sales took place in multiple transactions at prices that ranged from $81.67 to $82.78. This information is based on the weighted average price reported, and further details regarding the number of shares sold at each separate price are available upon request from the issuer or the Securities and Exchange Commission.
Following the sale, Mr. Rawls retains ownership of 57,623 shares in Mr. Cooper Group Inc. The company, which is known for its services in the finance sector, has its headquarters in Coppell, Texas. The transaction was reported in a filing with the Securities and Exchange Commission dated May 9th, with the actual sale occurring two days prior.
Investors often monitor insider transactions such as these for insights into executive sentiment regarding their company's stock performance. However, it is important to note that there can be various reasons for an insider to sell stock, and such transactions do not necessarily indicate a negative outlook on the company's future by the executive.
InvestingPro Insights
Recent activity in Mr. Cooper Group Inc. (NASDAQ:COOP) has seen a notable insider transaction, but what do the broader financial metrics indicate about the company's performance? With a market capitalization of $5.43 billion and a striking P/E ratio of 8.54, which adjusts to an even more attractive 7.87 for the last twelve months as of Q1 2024, the company presents an interesting valuation proposition. This is further underscored by a PEG ratio for the same period at a mere 0.06, suggesting that the company's earnings growth is not yet fully reflected in its share price.
Investors considering COOP's stock will find that analysts have revised their earnings upwards for the upcoming period, indicating potential confidence in the company's financial prospects. Additionally, Mr. Cooper Group has demonstrated a high return over the last year, with an impressive 95.19% total return, nearly reaching its 52-week high at 99.92% of that value. This performance is complemented by a strong return over the last three months, with a 16.62% total price return.
For those interested in further analysis, Mr. Cooper Group Inc. has 9 additional InvestingPro Tips available, which include insights such as the company's liquid assets exceeding short-term obligations and predictions that the company will be profitable this year. Access to these comprehensive tips can be found at https://www.investing.com/pro/COOP, and users can take advantage of a special offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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