Mr. Cooper Group (NASDAQ:COOP) Receives Neutral Rating from UBS Group

Mr. Cooper Group (NASDAQ:COOP)‘s stock had its “neutral” rating reissued by UBS Group in a research report issued on Tuesday, Marketbeat reports. They currently have a $178.00 target price on the stock, up from their prior target price of $156.00. UBS Group’s target price would suggest a potential downside of 5.99% from the stock’s current price.

COOP has been the subject of several other reports. Keefe, Bruyette & Woods raised their price target on Mr. Cooper Group from $115.00 to $143.00 and gave the company a “market perform” rating in a report on Tuesday, April 8th. Barclays raised their price target on Mr. Cooper Group from $147.00 to $156.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. Piper Sandler raised their price target on Mr. Cooper Group from $143.00 to $158.00 and gave the company a “neutral” rating in a report on Tuesday, July 1st. Finally, Jefferies Financial Group raised their price target on Mr. Cooper Group from $110.00 to $150.00 and gave the company a “hold” rating in a report on Tuesday, July 22nd. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $140.38.

Mr. Cooper Group Stock Up 5.7%

NASDAQ:COOP opened at $189.34 on Tuesday. The stock’s 50 day moving average price is $148.87 and its 200 day moving average price is $125.36. The company has a market capitalization of $12.12 billion, a PE ratio of 21.66 and a beta of 0.98. Mr. Cooper Group has a 52-week low of $82.55 and a 52-week high of $190.47.

Mr. Cooper Group (NASDAQ:COOP) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $3.13 earnings per share for the quarter, missing analysts’ consensus estimates of $3.28 by ($0.15). Mr. Cooper Group had a return on equity of 15.66% and a net margin of 25.38%. The company had revenue of $608.00 million for the quarter, compared to analyst estimates of $669.23 million. During the same period in the previous year, the business posted $3.10 earnings per share. The firm’s revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Mr. Cooper Group will post 13.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was sold at an average price of $174.72, for a total transaction of $5,241,600.00. Following the completion of the transaction, the chief executive officer owned 663,187 shares of the company’s stock, valued at approximately $115,872,032.64. This trade represents a 4.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.33% of the company’s stock.

Hedge Funds Weigh In On Mr. Cooper Group

Several hedge funds have recently bought and sold shares of COOP. LPL Financial LLC increased its stake in Mr. Cooper Group by 3.3% in the fourth quarter. LPL Financial LLC now owns 14,957 shares of the company’s stock valued at $1,436,000 after purchasing an additional 472 shares during the last quarter. National Bank of Canada FI acquired a new stake in shares of Mr. Cooper Group in the fourth quarter worth approximately $78,000. Arete Wealth Advisors LLC acquired a new stake in shares of Mr. Cooper Group in the fourth quarter worth approximately $224,000. Wells Fargo & Company MN boosted its position in shares of Mr. Cooper Group by 8.7% in the fourth quarter. Wells Fargo & Company MN now owns 82,452 shares of the company’s stock worth $7,916,000 after acquiring an additional 6,588 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in shares of Mr. Cooper Group in the fourth quarter worth approximately $502,000. Hedge funds and other institutional investors own 89.82% of the company’s stock.

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.