Mr. Cooper Group (NASDAQ:COOP) Shares Gap Down – Time to Sell?

Mr. Cooper Group Inc. (NASDAQ:COOP) shares gapped down before the market opened on Wednesday . The stock had previously closed at $107.32, but opened at $101.77. Mr. Cooper Group shares last traded at $106.93, with a volume of 158,046 shares changing hands.

Analyst Ratings Changes

COOP has been the topic of several analyst reports. Compass Point increased their price target on Mr. Cooper Group from $97.00 to $110.00 and gave the stock 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 report on Tuesday, January 14th. Piper Sandler raised their target price on Mr. Cooper Group from $113.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Wedbush restated an “outperform” rating and set a $115.00 target price on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Finally, JMP Securities began coverage on Mr. Cooper Group in a research report on Tuesday, January 14th. They set an “outperform” rating and a $115.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $104.13.

Mr. Cooper Group Stock Performance

The stock’s 50 day simple moving average is $98.81 and its two-hundred day simple moving average is $94.70. The firm has a market capitalization of $6.77 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 0.31 and a beta of 1.43.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings results on Wednesday, February 12th. The company reported $2.73 EPS for the quarter, beating the consensus estimate of $2.65 by $0.08. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%. Equities research analysts expect that Mr. Cooper Group Inc. will post 10.18 earnings per share for the current fiscal year.

Insider Activity at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $94.49, for a total transaction of $2,834,700.00. Following the completion of the transaction, the chief executive officer now directly owns 758,821 shares of the company’s stock, valued at $71,700,996.29. This represents a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.33% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB grew its position in Mr. Cooper Group by 9,175.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 4,916 shares of the company’s stock worth $472,000 after buying an additional 4,863 shares during the period. Charles Schwab Investment Management Inc. grew its position in Mr. Cooper Group by 6.0% during 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 acquired a new position in Mr. Cooper Group during the third quarter worth about $730,000. World Investment Advisors LLC acquired a new position in Mr. Cooper Group during the third quarter worth about $2,537,000. Finally, FMR LLC grew its position in shares of Mr. Cooper Group by 42.9% in the third quarter. FMR LLC now owns 485,907 shares of the company’s stock valued at $44,791,000 after purchasing an additional 145,767 shares during the last quarter. 89.82% of the stock is owned by hedge funds and other 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.