Mr. Cooper Group (NASDAQ:COOP) Lowered to Neutral Rating by Piper Sandler

Mr. Cooper Group (NASDAQ:COOP) was downgraded by equities researchers at Piper Sandler from an “overweight” rating to a “neutral” rating in a research note issued on Friday, Marketbeat reports. They presently have a $143.00 target price on the stock, up from their prior target price of $125.00. Piper Sandler’s price objective would indicate a potential upside of 6.55% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Citizens Jmp cut shares of Mr. Cooper Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 1st. Barclays raised their price objective on shares of Mr. Cooper Group from $111.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. UBS Group boosted their target price on shares of Mr. Cooper Group from $122.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. JMP Securities restated a “market outperform” rating and issued a $115.00 price target on shares of Mr. Cooper Group in a research note on Thursday, February 13th. Finally, Keefe, Bruyette & Woods upped their price objective on Mr. Cooper Group from $105.00 to $115.00 and gave the stock a “market perform” rating in a research report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $114.78.

Mr. Cooper Group Trading Up 0.8 %

Mr. Cooper Group stock opened at $134.21 on Friday. The firm has a market capitalization of $8.54 billion, a P/E ratio of 13.18, a P/E/G ratio of 0.32 and a beta of 1.17. The stock’s fifty day simple moving average is $108.62 and its 200-day simple moving average is $99.93. Mr. Cooper Group has a twelve month low of $74.49 and a twelve month high of $137.60.

Mr. Cooper Group (NASDAQ:COOP) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $2.73 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.08. Mr. Cooper Group had a return on equity of 14.76% and a net margin of 30.07%. Sell-side analysts predict that Mr. Cooper Group will post 13.17 earnings per share for the current year.

Insider Activity

In other news, CEO Jesse K. Bray sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $112.24, for a total transaction of $3,367,200.00. Following the transaction, the chief executive officer now directly owns 698,821 shares in the company, valued at approximately $78,435,669.04. This trade represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.33% of the company’s stock.

Institutional Trading of Mr. Cooper Group

Large investors have recently bought and sold shares of the business. Picton Mahoney Asset Management raised its holdings in shares of Mr. Cooper Group by 41.3% in the fourth quarter. Picton Mahoney Asset Management now owns 325 shares of the company’s stock valued at $31,000 after buying an additional 95 shares during the last quarter. Penbrook Management LLC increased its position in Mr. Cooper Group by 0.6% in the 1st quarter. Penbrook Management LLC now owns 15,825 shares of the company’s stock valued at $1,893,000 after acquiring an additional 100 shares during the period. Williamson Legacy Group LLC raised its stake in Mr. Cooper Group by 1.1% during the 4th quarter. Williamson Legacy Group LLC now owns 10,835 shares of the company’s stock valued at $1,040,000 after acquiring an additional 118 shares during the last quarter. Commonwealth Equity Services LLC lifted its position in Mr. Cooper Group by 2.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 4,984 shares of the company’s stock worth $479,000 after acquiring an additional 128 shares during the period. Finally, Dakota Wealth Management grew its stake in shares of Mr. Cooper Group by 0.7% in the 4th quarter. Dakota Wealth Management now owns 27,695 shares of the company’s stock valued at $2,659,000 after purchasing an additional 181 shares during the last quarter. Institutional investors and hedge funds own 89.82% of the company’s stock.

About Mr. Cooper Group

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.