Mr. Cooper Group (NASDAQ:COOP) Rating Lowered to “Neutral” at Piper Sandler

Mr. Cooper Group (NASDAQ:COOP) was downgraded by equities research analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a research note issued to investors on Friday, MarketBeat.com reports. They currently have a $143.00 price target on the stock, up from their previous price target of $125.00. Piper Sandler’s price target indicates a potential upside of 6.55% from the stock’s previous close.

A number of other analysts have also issued reports on COOP. Citizens Jmp lowered Mr. Cooper Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 1st. UBS Group upped their target price on shares of Mr. Cooper Group from $122.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. JMP Securities reiterated a “market outperform” rating and issued a $115.00 target price on shares of Mr. Cooper Group in a research report on Thursday, February 13th. Keefe, Bruyette & Woods boosted their price target on shares of Mr. Cooper Group from $105.00 to $115.00 and gave the stock a “market perform” rating in a research report on Thursday, February 13th. Finally, Barclays increased their price objective on shares of Mr. Cooper Group from $111.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Mr. Cooper Group has an average rating of “Moderate Buy” and a consensus target price of $114.78.

Mr. Cooper Group Stock Performance

NASDAQ:COOP opened at $134.21 on Friday. The stock has a market capitalization of $8.54 billion, a PE ratio of 13.18, a P/E/G ratio of 0.32 and a beta of 1.17. Mr. Cooper Group has a fifty-two week low of $74.49 and a fifty-two week high of $137.60. The company has a fifty day moving average of $108.62 and a two-hundred day moving average of $99.93.

Mr. Cooper Group (NASDAQ:COOP) last released its earnings results on Wednesday, February 12th. The company reported $2.73 EPS for the quarter, topping analysts’ consensus estimates of $2.65 by $0.08. Mr. Cooper Group had a net margin of 30.07% and a return on equity of 14.76%. Research analysts forecast that Mr. Cooper Group will post 13.17 earnings per share for the current year.

Insider Activity at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $112.24, for a total transaction of $3,367,200.00. Following the completion of the transaction, the chief executive officer now owns 698,821 shares of the company’s stock, valued at $78,435,669.04. This trade represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mr. Cooper Group

Large investors have recently made changes to their positions in the stock. State Street Corp increased its holdings in Mr. Cooper Group by 1.9% in the 3rd quarter. State Street Corp now owns 2,726,946 shares of the company’s stock valued at $251,370,000 after purchasing an additional 51,667 shares during the last quarter. Invesco Ltd. grew its stake in shares of Mr. Cooper Group by 5.2% in the fourth quarter. Invesco Ltd. now owns 1,800,369 shares of the company’s stock valued at $172,853,000 after buying an additional 89,544 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Mr. Cooper Group by 43.1% in the 4th quarter. Wellington Management Group LLP now owns 1,138,904 shares of the company’s stock valued at $109,346,000 after buying an additional 343,243 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Mr. Cooper Group by 16.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 871,902 shares of the company’s stock valued at $83,712,000 after buying an additional 125,897 shares during the period. Finally, Northern Trust Corp boosted its holdings in Mr. Cooper Group by 6.8% during the 4th quarter. Northern Trust Corp now owns 835,369 shares of the company’s stock valued at $80,204,000 after acquiring an additional 53,534 shares during the period. 89.82% of the stock is currently owned by institutional investors and hedge funds.

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.