Mr. Cooper Group (NASDAQ:COOP) Reaches New 52-Week High – Here’s Why

Mr. Cooper Group Inc. (NASDAQ:COOP) reached a new 52-week high on Friday . The company traded as high as $110.69 and last traded at $110.03, with a volume of 27913 shares changing hands. The stock had previously closed at $109.15.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on COOP shares. Keefe, Bruyette & Woods boosted their target price on Mr. Cooper Group from $105.00 to $115.00 and gave the stock a “market perform” rating in a report on Thursday, February 13th. UBS Group upped their target price on shares of Mr. Cooper Group from $122.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Barclays upped their target price on shares of Mr. Cooper Group from $111.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. JMP Securities restated a “market outperform” rating and issued a $115.00 price objective on shares of Mr. Cooper Group in a research report on Thursday, February 13th. Finally, Citizens Jmp upgraded Mr. Cooper Group to a “strong-buy” rating in a report on Tuesday, January 14th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.22.

Mr. Cooper Group Stock Up 1.2 %

The firm has a market capitalization of $7.07 billion, a P/E ratio of 10.86, a PEG ratio of 0.32 and a beta of 1.43. The business’s 50 day moving average is $100.78 and its 200-day moving average is $95.83.

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

Insider Transactions at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $94.49, for a total value of $2,834,700.00. Following the completion of the transaction, the chief executive officer now owns 758,821 shares in the company, valued at $71,700,996.29. This trade represents a 3.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.33% of the company’s stock.

Institutional Investors Weigh In On Mr. Cooper Group

A number of institutional investors have recently added to or reduced their stakes in COOP. State Street Corp lifted its holdings in shares of Mr. Cooper Group by 1.9% during the third quarter. State Street Corp now owns 2,726,946 shares of the company’s stock worth $251,370,000 after purchasing an additional 51,667 shares during the period. Invesco Ltd. raised its position in Mr. Cooper Group by 5.2% during the 4th quarter. Invesco Ltd. now owns 1,800,369 shares of the company’s stock worth $172,853,000 after purchasing an additional 89,544 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Mr. Cooper Group by 43.1% during the 4th quarter. Wellington Management Group LLP now owns 1,138,904 shares of the company’s stock worth $109,346,000 after buying an additional 343,243 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Mr. Cooper Group by 6.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 916,365 shares of the company’s stock valued at $84,471,000 after buying an additional 52,001 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Mr. Cooper Group by 16.9% in the fourth 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. 89.82% of the stock is owned by institutional investors.

Mr. Cooper Group Company Profile

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.