Wedbush Raises Mr. Cooper Group (NASDAQ:COOP) Price Target to $100.00

Mr. Cooper Group (NASDAQ:COOP) had its target price hoisted by research analysts at Wedbush from $85.00 to $100.00 in a research report issued on Thursday, MarketBeat Ratings reports. The firm currently has an “outperform” rating on the stock. Wedbush’s price objective would suggest a potential upside of 27.02% from the stock’s current price. Wedbush also issued estimates for Mr. Cooper Group’s Q3 2024 earnings at $2.47 EPS, Q4 2024 earnings at $2.27 EPS, Q1 2025 earnings at $2.56 EPS, Q2 2025 earnings at $2.84 EPS, Q3 2025 earnings at $2.95 EPS, Q4 2025 earnings at $2.95 EPS and FY2025 earnings at $11.30 EPS.

COOP has been the subject of several other reports. Keefe, Bruyette & Woods boosted their price objective on shares of Mr. Cooper Group from $83.00 to $86.00 and gave the company an “outperform” rating in a report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft started coverage on shares of Mr. Cooper Group in a report on Wednesday, January 10th. They set a “buy” rating and a $88.00 price objective for the company. Jefferies Financial Group boosted their price objective on shares of Mr. Cooper Group from $74.00 to $80.00 and gave the company a “hold” rating in a report on Friday, April 19th. Finally, Barclays boosted their price objective on shares of Mr. Cooper Group from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.22.

Mr. Cooper Group Stock Performance

Shares of NASDAQ COOP opened at $78.73 on Thursday. The firm’s 50 day moving average price is $74.98 and its 200-day moving average price is $66.48. The company has a market cap of $5.10 billion, a PE ratio of 8.24 and a beta of 1.38. Mr. Cooper Group has a 52-week low of $41.74 and a 52-week high of $81.98.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings data on Wednesday, April 24th. The company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.17. Mr. Cooper Group had a net margin of 31.75% and a return on equity of 13.31%. The firm had revenue of $564.00 million during the quarter, compared to analysts’ expectations of $498.15 million. On average, analysts forecast that Mr. Cooper Group will post 9.24 earnings per share for the current fiscal year.

Insider Buying and Selling at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $67.56, for a total value of $1,689,000.00. Following the completion of the transaction, the chief executive officer now directly owns 391,051 shares in the company, valued at $26,419,405.56. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, President Michael S. Weinbach purchased 17,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was acquired at an average cost of $71.16 per share, for a total transaction of $1,209,720.00. Following the completion of the transaction, the president now directly owns 17,000 shares in the company, valued at approximately $1,209,720. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jesse K. Bray sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $67.56, for a total transaction of $1,689,000.00. Following the completion of the transaction, the chief executive officer now owns 391,051 shares of the company’s stock, valued at $26,419,405.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,000 shares of company stock valued at $5,431,500. Insiders own 2.33% of the company’s stock.

Hedge Funds Weigh In On Mr. Cooper Group

Hedge funds have recently modified their holdings of the company. USA Financial Formulas bought a new position in shares of Mr. Cooper Group during the fourth quarter worth $25,000. GAMMA Investing LLC bought a new position in shares of Mr. Cooper Group during the fourth quarter worth $61,000. Quest Partners LLC bought a new position in shares of Mr. Cooper Group during the fourth quarter worth $61,000. Centaurus Financial Inc. bought a new position in shares of Mr. Cooper Group during the fourth quarter worth $101,000. Finally, Headlands Technologies LLC boosted its position in shares of Mr. Cooper Group by 637.1% during the fourth quarter. Headlands Technologies LLC now owns 1,651 shares of the company’s stock worth $108,000 after acquiring an additional 1,427 shares during the last quarter. 89.82% of the stock is currently owned by institutional investors.

About Mr. Cooper Group

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.