Mr. Cooper Group (NASDAQ:COOP) Price Target Raised to $120.00

Mr. Cooper Group (NASDAQ:COOP) had its price objective increased by equities research analysts at Piper Sandler from $113.00 to $120.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s target price indicates a potential upside of 15.89% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. Wedbush reissued an “outperform” rating and set a $115.00 target price on shares of Mr. Cooper Group in a research note on Thursday, October 24th. JMP Securities assumed coverage on shares of Mr. Cooper Group in a research note on Tuesday, January 14th. They issued an “outperform” rating and a $115.00 price objective on the stock. Compass Point increased their price target on Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Citizens Jmp upgraded Mr. Cooper Group to a “strong-buy” rating in a research note on Tuesday, January 14th. Finally, Barclays raised their price objective on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Mr. Cooper Group has a consensus rating of “Moderate Buy” and a consensus target price of $104.13.

Mr. Cooper Group Stock Up 0.7 %

Shares of COOP stock traded up $0.74 on Wednesday, reaching $103.55. The company had a trading volume of 65,823 shares, compared to its average volume of 447,184. Mr. Cooper Group has a one year low of $64.35 and a one year high of $105.00. The stock has a market capitalization of $6.63 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 0.30 and a beta of 1.43. The business’s 50-day moving average is $96.67 and its 200 day moving average is $92.75.

Mr. Cooper Group (NASDAQ:COOP) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.54 by $0.30. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%. The business had revenue of $616.00 million during the quarter, compared to analyst estimates of $548.09 million. During the same quarter last year, the business earned $2.79 EPS. The firm’s quarterly revenue was up 32.8% on a year-over-year basis. On average, sell-side analysts forecast that Mr. Cooper Group will post 10.18 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Jesse K. Bray sold 30,000 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 788,821 shares of the company’s stock, valued at approximately $76,973,153.18. The trade was a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 90,000 shares of company stock worth $8,414,400. 2.33% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mr. Cooper Group

Several hedge funds have recently bought and sold shares of COOP. Charles Schwab Investment Management Inc. increased its holdings in shares of Mr. Cooper Group by 6.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 916,365 shares of the company’s stock worth $84,471,000 after buying an additional 52,001 shares during the period. Cynosure Group LLC purchased a new stake in shares of Mr. Cooper Group in the 3rd quarter worth about $730,000. World Investment Advisors LLC bought a new position in shares of Mr. Cooper Group in the 3rd quarter worth approximately $2,537,000. FMR LLC boosted its holdings in shares of Mr. Cooper Group by 42.9% during the 3rd quarter. FMR LLC now owns 485,907 shares of the company’s stock valued at $44,791,000 after buying an additional 145,767 shares in the last quarter. Finally, Range Financial Group LLC purchased a new stake in Mr. Cooper Group in the fourth quarter worth about $1,091,000. 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.