Mr. Cooper Group Inc. (NASDAQ:COOP) Receives $100.57 Average Target Price from Analysts

Shares of Mr. Cooper Group Inc. (NASDAQ:COOP) have been given an average rating of “Moderate Buy” by the seven ratings firms that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $100.57.

COOP has been the subject of a number of recent analyst reports. Wedbush reiterated an “outperform” rating and set a $115.00 target price on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Barclays upped their price objective on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Compass Point raised their target price on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, October 24th.

Mr. Cooper Group Trading Down 1.5 %

COOP opened at $94.31 on Wednesday. The stock’s fifty day simple moving average is $95.41 and its 200 day simple moving average is $90.80. Mr. Cooper Group has a 1-year low of $61.38 and a 1-year high of $103.05. The stock has a market cap of $6.03 billion, a PE ratio of 12.18 and a beta of 1.41.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.30. The business had revenue of $616.00 million during the quarter, compared to the consensus estimate of $548.09 million. Mr. Cooper Group had a return on equity of 13.77% and a net margin of 25.87%. The firm’s quarterly revenue was up 32.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.79 EPS. Equities analysts forecast that Mr. Cooper Group will post 10.16 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $97.58, for a total transaction of $2,927,400.00. Following the sale, the chief executive officer now directly owns 788,821 shares of the company’s stock, valued at approximately $76,973,153.18. This trade represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.33% of the company’s stock.

Hedge Funds Weigh In On Mr. Cooper Group

A number of hedge funds have recently made changes to their positions in COOP. Allspring Global Investments Holdings LLC raised its position in shares of Mr. Cooper Group by 8,275.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company’s stock worth $27,000 after acquiring an additional 331 shares in the last quarter. Quarry LP bought a new stake in shares of Mr. Cooper Group during the 2nd quarter valued at about $29,000. Financial Management Professionals Inc. acquired a new stake in Mr. Cooper Group during the third quarter worth approximately $30,000. Harvest Fund Management Co. Ltd increased its holdings in Mr. Cooper Group by 152.5% in the third quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock worth $41,000 after purchasing an additional 270 shares in the last quarter. Finally, Harbor Capital Advisors Inc. acquired a new position in Mr. Cooper Group in the third quarter valued at approximately $52,000. 89.82% of the stock is currently owned by institutional investors.

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.