Mr. Cooper Group (NASDAQ:COOP) Reaches New 12-Month High Following Analyst Upgrade

Mr. Cooper Group Inc. (NASDAQ:COOP) hit a new 52-week high during trading on Monday after Jefferies Financial Group raised their price target on the stock from $74.00 to $80.00. Jefferies Financial Group currently has a hold rating on the stock. Mr. Cooper Group traded as high as $78.62 and last traded at $78.07, with a volume of 362119 shares traded. The stock had previously closed at $77.55.

Several other analysts have also weighed in on the company. Keefe, Bruyette & Woods lifted their price objective on Mr. Cooper Group from $83.00 to $86.00 and gave the stock an “outperform” rating in a report on Tuesday, April 9th. Barclays lifted their price objective on Mr. Cooper Group from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Wedbush lifted their price objective on Mr. Cooper Group from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, February 12th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Mr. Cooper Group in a report on Wednesday, January 10th. They set a “buy” rating and a $88.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $78.67.

Insider Activity at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 25,000 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $67.56, for a total value of $1,689,000.00. Following the sale, the chief executive officer now owns 391,051 shares of the company’s stock, valued at approximately $26,419,405.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Mr. Cooper Group news, CEO Jesse K. Bray sold 25,000 shares of the business’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $67.56, for a total value of $1,689,000.00. Following the transaction, the chief executive officer now owns 391,051 shares of the company’s stock, valued at $26,419,405.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Michael S. Weinbach acquired 17,000 shares of Mr. Cooper Group stock in a transaction on Tuesday, February 13th. The stock was acquired at an average cost of $71.16 per share, for a total transaction of $1,209,720.00. Following the purchase, the president now owns 17,000 shares of the company’s stock, valued at approximately $1,209,720. The disclosure for this purchase can be found here. Insiders have sold a total of 75,000 shares of company stock valued at $5,431,500 in the last 90 days. 2.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mr. Cooper Group

A number of institutional investors and hedge funds have recently bought and sold shares of COOP. SG Americas Securities LLC acquired a new position in Mr. Cooper Group in the third quarter worth $198,000. Exchange Traded Concepts LLC bought a new stake in shares of Mr. Cooper Group during the third quarter worth $667,000. Counterpoint Mutual Funds LLC bought a new stake in shares of Mr. Cooper Group during the third quarter worth $219,000. Denali Advisors LLC bought a new stake in shares of Mr. Cooper Group during the third quarter worth $933,000. Finally, Xponance Inc. raised its position in shares of Mr. Cooper Group by 47.1% during the third quarter. Xponance Inc. now owns 5,837 shares of the company’s stock worth $313,000 after acquiring an additional 1,868 shares during the last quarter. Institutional investors and hedge funds own 89.82% of the company’s stock.

Mr. Cooper Group Stock Up 1.8 %

The company has a market cap of $5.19 billion, a P/E ratio of 10.83 and a beta of 1.38. The business has a 50-day moving average price of $74.75 and a two-hundred day moving average price of $66.29.

Mr. Cooper Group (NASDAQ:COOP) last released its earnings results on Friday, February 9th. The company reported $1.71 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.34. The company had revenue of $404.00 million during the quarter, compared to the consensus estimate of $398.31 million. Mr. Cooper Group had a return on equity of 12.01% and a net margin of 27.87%. As a group, sell-side analysts expect that Mr. Cooper Group Inc. will post 9.01 EPS for the current fiscal year.

Mr. Cooper Group Company Profile

Mr. Cooper Group Inc engages in non-banking services for mortgage loans the United States. The company operates through Servicing and Originations segments. The Servicing segment performs activities for underlying mortgages, including collecting and disbursing borrower payments, investor reporting, customer service, and modifying loans.