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

Mr. Cooper Group (NASDAQ:COOP) had its price objective raised by stock analysts at Wedbush from $85.00 to $100.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s price target would suggest a potential upside of 22.37% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Jefferies Financial Group increased their price objective on shares of Mr. Cooper Group from $74.00 to $80.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. Deutsche Bank Aktiengesellschaft assumed coverage on Mr. Cooper Group in a research note on Wednesday, January 10th. They issued a “buy” rating and a $88.00 price objective for the company. Keefe, Bruyette & Woods upped their target price on Mr. Cooper Group from $83.00 to $86.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 9th. Finally, Barclays lifted their price target on shares of Mr. Cooper Group from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $80.33.

Mr. Cooper Group Stock Performance

Shares of COOP stock opened at $81.72 on Thursday. Mr. Cooper Group has a fifty-two week low of $41.74 and a fifty-two week high of $81.98. The stock has a 50 day simple moving average of $74.75 and a two-hundred day simple moving average of $66.29. The company has a market cap of $5.33 billion, a P/E ratio of 11.13 and a beta of 1.38.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.11 by $0.17. Mr. Cooper Group had a net margin of 27.87% and a return on equity of 12.01%. The company had revenue of $564.00 million during the quarter, compared to the consensus estimate of $498.15 million. On average, research analysts predict that Mr. Cooper Group will post 9.01 earnings per share for the current year.

Insider Buying and Selling at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 25,000 shares of the business’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 value of $1,689,000.00. Following the transaction, the chief executive officer now owns 391,051 shares in the company, valued at approximately $26,419,405.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Jesse K. Bray sold 25,000 shares of Mr. Cooper Group stock in a transaction 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 sale, the chief executive officer now directly owns 391,051 shares in the company, valued at $26,419,405.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Michael S. Weinbach acquired 17,000 shares of the business’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 transaction, the president now owns 17,000 shares of the company’s stock, valued at approximately $1,209,720. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 75,000 shares of company stock worth $5,431,500. Insiders own 2.33% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new position in Mr. Cooper Group in the third quarter valued at approximately $198,000. Exchange Traded Concepts LLC purchased a new stake in Mr. Cooper Group in the 3rd quarter worth about $667,000. Denali Advisors LLC bought a new stake in Mr. Cooper Group in the 3rd quarter valued at about $933,000. Xponance Inc. raised its stake in Mr. Cooper Group by 47.1% in the 3rd quarter. Xponance Inc. now owns 5,837 shares of the company’s stock valued at $313,000 after acquiring an additional 1,868 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in Mr. Cooper Group by 22.0% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 23,314 shares of the company’s stock valued at $1,249,000 after purchasing an additional 4,211 shares during the last quarter. 89.82% of the stock is 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.