Mr. Cooper Group (NASDAQ:COOP) Upgraded to B at TheStreet

Mr. Cooper Group (NASDAQ:COOP – Get Rating) was upgraded by equities research analysts at TheStreet from a “c+” rating to a “b” rating in a report released on Wednesday, TheStreetRatingsTable reports.

A number of other brokerages also recently weighed in on COOP. BTIG Research started coverage on shares of Mr. Cooper Group in a report on Wednesday, April 20th. They issued a “neutral” rating on the stock. Barclays cut their price target on shares of Mr. Cooper Group from $51.00 to $48.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 12th. Credit Suisse Group boosted their price target on shares of Mr. Cooper Group from $52.00 to $59.00 and gave the stock an “outperform” rating in a report on Monday, February 14th. Piper Sandler boosted their price target on shares of Mr. Cooper Group from $60.00 to $71.00 and gave the stock an “overweight” rating in a report on Monday, February 14th. Finally, Zacks Investment Research downgraded shares of Mr. Cooper Group from a “hold” rating to a “strong sell” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $57.20.

COOP opened at $44.40 on Wednesday. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 2.37 and a beta of 1.39. The firm’s fifty day moving average price is $45.93 and its two-hundred day moving average price is $43.99. Mr. Cooper Group has a 1 year low of $31.42 and a 1 year high of $52.34.

Mr. Cooper Group (NASDAQ:COOP – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.12. The company had revenue of $625.00 million for the quarter, compared to the consensus estimate of $591.14 million. Mr. Cooper Group had a net margin of 48.79% and a return on equity of 16.11%. The firm’s quarterly revenue was down 50.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.87 EPS. As a group, sell-side analysts forecast that Mr. Cooper Group will post 4.75 EPS for the current fiscal year.

In other news, CEO Jesse K. Bray sold 46,000 shares of the company’s stock in a transaction dated Wednesday, April 20th. The stock was sold at an average price of $46.50, for a total transaction of $2,139,000.00. Following the sale, the chief executive officer now directly owns 1,094,915 shares in the company, valued at $50,913,547.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Eldridge A. Burns sold 3,603 shares of the company’s stock in a transaction dated Friday, March 4th. The shares were sold at an average price of $49.29, for a total value of $177,591.87. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,603 shares of company stock worth $2,816,992. Insiders own 2.59% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in COOP. Raymond James & Associates increased its position in shares of Mr. Cooper Group by 59.1% during the third quarter. Raymond James & Associates now owns 32,850 shares of the company’s stock valued at $1,352,000 after buying an additional 12,197 shares during the period. Principal Financial Group Inc. increased its position in shares of Mr. Cooper Group by 16.6% during the third quarter. Principal Financial Group Inc. now owns 829,529 shares of the company’s stock valued at $34,152,000 after buying an additional 117,801 shares during the period. BlackRock Inc. increased its position in shares of Mr. Cooper Group by 1.4% in the third quarter. BlackRock Inc. now owns 10,699,090 shares of the company’s stock worth $440,480,000 after purchasing an additional 142,556 shares during the last quarter. Barclays PLC increased its position in shares of Mr. Cooper Group by 18.4% in the third quarter. Barclays PLC now owns 74,157 shares of the company’s stock worth $3,053,000 after purchasing an additional 11,523 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its position in shares of Mr. Cooper Group by 15.3% in the third quarter. Teacher Retirement System of Texas now owns 11,049 shares of the company’s stock worth $455,000 after purchasing an additional 1,467 shares during the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

About Mr. Cooper Group (Get Rating)

Mr. Cooper Group Inc provides servicing, origination, and transaction-based services related to single-family residences in the United States. The company operates through two segments: Servicing and Originations. The Servicing segment performs activities for underlying mortgages, including collecting and disbursing borrower payments, investor reporting, customer service, and modifying loans.

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