Mr. Cooper Group (NASDAQ:COOP) Sets New 1-Year High on Analyst Upgrade

Mr. Cooper Group Inc. (NASDAQ:COOP) shares hit a new 52-week high during mid-day trading 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 traded. The stock had previously closed at $77.55.

Several other equities research analysts have also recently weighed in on COOP. 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. 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 started 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. Finally, 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. One 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.com, Mr. Cooper Group has a consensus rating of “Moderate Buy” and a consensus target price of $78.67.

Insider Activity

In other news, CEO Jesse K. Bray sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $78.09, for a total value of $1,952,250.00. Following the transaction, the chief executive officer now owns 334,631 shares in the company, valued at $26,131,334.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Jesse K. Bray sold 25,000 shares of Mr. Cooper Group stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $78.09, for a total transaction of $1,952,250.00. Following the sale, the chief executive officer now directly owns 334,631 shares in the company, valued at $26,131,334.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Michael S. Weinbach purchased 17,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were acquired at an average price of $71.16 per share, for a total transaction of $1,209,720.00. Following the completion of the acquisition, the president now directly owns 17,000 shares of the company’s stock, valued at approximately $1,209,720. The disclosure for this purchase can be found here. Insiders have sold 75,000 shares of company stock worth $5,431,500 over the last 90 days. 2.33% of the stock is currently owned by corporate insiders.

Institutional Trading of Mr. Cooper Group

A number of large investors have recently bought and sold shares of the company. Triasima Portfolio Management inc. purchased a new position in shares of Mr. Cooper Group in the fourth quarter valued at $1,354,000. Vanguard Group Inc. grew its position in Mr. Cooper Group by 1.1% during the third quarter. Vanguard Group Inc. now owns 7,234,258 shares of the company’s stock worth $387,467,000 after buying an additional 77,838 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Mr. Cooper Group by 12.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,593,780 shares of the company’s stock worth $103,787,000 after buying an additional 182,014 shares in the last quarter. Hsbc Holdings PLC grew its position in Mr. Cooper Group by 383.5% during the third quarter. Hsbc Holdings PLC now owns 146,704 shares of the company’s stock worth $7,878,000 after buying an additional 116,360 shares in the last quarter. Finally, Cambria Investment Management L.P. grew its position in Mr. Cooper Group by 6.6% during the third quarter. Cambria Investment Management L.P. now owns 168,423 shares of the company’s stock worth $9,021,000 after buying an additional 10,486 shares in the last quarter. 89.82% of the stock is owned by hedge funds and other institutional investors.

Mr. Cooper Group Price Performance

The company has a 50 day simple moving average of $74.58 and a 200-day simple moving average of $66.11. The stock has a market cap of $5.09 billion, a P/E ratio of 10.63 and a beta of 1.38.

Mr. Cooper Group (NASDAQ:COOP) last issued its quarterly earnings results on Friday, February 9th. The company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.34. Mr. Cooper Group had a return on equity of 12.01% and a net margin of 27.87%. The firm had revenue of $404.00 million during the quarter, compared to analyst estimates of $398.31 million. As a group, research analysts expect 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.