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

Shares of Mr. Cooper Group Inc. (NASDAQ:COOP) hit a new 52-week high 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 changing hands. The stock had previously closed at $77.55.

Other research analysts have also recently issued reports about the company. Barclays increased their price target on Mr. Cooper Group from $80.00 to $85.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft assumed coverage on Mr. Cooper Group in a research note on Wednesday, January 10th. They issued a “buy” rating and a $88.00 price target for the company. Wedbush increased their price target on Mr. Cooper Group from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, February 12th. Finally, Keefe, Bruyette & Woods increased their price target on Mr. Cooper Group from $83.00 to $86.00 and gave the company an “outperform” rating in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $78.67.

Insider Transactions at Mr. Cooper Group

In other news, President Michael S. Weinbach bought 17,000 shares of Mr. Cooper Group stock in a transaction dated Tuesday, February 13th. The stock was bought at an average cost of $71.16 per share, for a total transaction of $1,209,720.00. Following the purchase, the president now directly owns 17,000 shares in the company, valued at approximately $1,209,720. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, President Michael S. Weinbach bought 17,000 shares of Mr. Cooper Group stock in a transaction dated Tuesday, February 13th. The stock was bought at an average cost of $71.16 per share, for a total transaction of $1,209,720.00. Following the purchase, the president now directly owns 17,000 shares in the company, valued at approximately $1,209,720. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jesse K. Bray sold 25,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $71.61, for a total value of $1,790,250.00. Following the completion of the sale, the chief executive officer now owns 366,051 shares of the company’s stock, valued at $26,212,912.11. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,000 shares of company stock valued at $5,431,500. Corporate insiders own 2.33% of the company’s stock.

Institutional Trading of Mr. Cooper Group

Large investors have recently made changes to their positions in the company. USA Financial Formulas acquired a new stake in shares of Mr. Cooper Group in the 4th quarter valued at about $25,000. GAMMA Investing LLC acquired a new position in Mr. Cooper Group during the 4th quarter valued at about $61,000. Quest Partners LLC acquired a new position in Mr. Cooper Group during the 4th quarter valued at about $61,000. Centaurus Financial Inc. acquired a new position in Mr. Cooper Group during the 4th quarter valued at about $101,000. Finally, Headlands Technologies LLC boosted its stake in Mr. Cooper Group by 637.1% during the 4th quarter. Headlands Technologies LLC now owns 1,651 shares of the company’s stock valued at $108,000 after purchasing an additional 1,427 shares during the last quarter. 89.82% of the stock is currently owned by institutional investors and hedge funds.

Mr. Cooper Group Stock Performance

The firm has a market cap of $5.09 billion, a price-to-earnings ratio of 10.63 and a beta of 1.38. The business has a 50 day simple moving average of $74.58 and a 200-day simple moving average of $66.11.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings results on Friday, February 9th. The company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.34. The business 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, research analysts anticipate that Mr. Cooper Group Inc. will post 9.01 earnings per share for the current 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.