Microvast Holdings announces departure of chief financial officer
Jesse K. Bray, the Chief Executive Officer of Mr. Cooper Group Inc. (NASDAQ:COOP), recently executed a series of stock transactions, as detailed in a recent SEC filing. On March 3, Bray sold 30,000 shares of Mr. Cooper stock, generating approximately $3.37 million. The shares were sold at an average price of $112.24, with transactions occurring at prices ranging from $109.94 to $113.90. The sales occurred near the company’s 52-week high of $114.05, with the stock currently trading at a P/E ratio of 10.55. According to InvestingPro analysis, the company’s shares are currently fairly valued based on their proprietary Fair Value model.
In addition to the sales, Bray’s transactions included several acquisitions and exercises. On March 1, Bray acquired 32,260 shares through a restricted stock unit (RSU) award under the company’s 2019 Omnibus Incentive Plan. The RSUs were awarded at no cost. Additionally, on March 3, 129,562 performance stock units (PSUs) vested and were converted into common stock, following the satisfaction of performance criteria. InvestingPro data shows the company maintains strong financial health with a "GOOD" overall rating, supported by robust profitability metrics. Subscribers can access 8 additional ProTips and comprehensive analysis in the Pro Research Report.
Bray also forfeited shares to cover tax withholding obligations, with 25,946 shares forfeited on March 1 and another 50,983 shares on March 3, both at a price of $112.37 per share. Following these transactions, Bray’s direct ownership of Mr. Cooper shares now stands at 316,964 shares, with additional shares held indirectly through the Jesse K. Bray Living Trust. The company, with a market capitalization of $7.06 billion, has demonstrated strong performance with a 49.47% total return over the past year.
In other recent news, Mr. Cooper Group Inc. reported impressive fourth-quarter earnings for 2024, surpassing Wall Street expectations. The company achieved an earnings per share (EPS) of $3.13, notably higher than the forecasted $2.70, and recorded revenue of $672 million, exceeding the projected $596.52 million. Additionally, Mr. Cooper Group completed the acquisition of Flagstar, adding 1.1 million customers to its portfolio. The company also increased its Return on Tangible Common Equity (ROTCE) guidance to 16-20% for 2025-2026, reflecting confidence in its strategic initiatives.
In another development, analysts from Keefe, Bruyette & Woods raised their price target for Mr. Cooper Group’s stock to $115 from $105, maintaining a Market Perform rating. This adjustment follows management’s guidance for a 16-20% return on equity for 2025 and 2026. The analysts have also revised their earnings estimates upward for the next three years, citing expectations of lower servicing costs and a strong business model. These recent updates highlight Mr. Cooper Group’s robust financial performance and strategic growth efforts in the mortgage servicing market.
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