Mr. Cooper Group (NASDAQ:COOP) Issues Earnings Results, Beats Expectations By $0.17 EPS

Mr. Cooper Group (NASDAQ:COOP) announced its quarterly earnings data on Wednesday. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.11 by $0.17, reports. Mr. Cooper Group had a net margin of 31.75% and a return on equity of 13.31%. The business had revenue of $564.00 million for the quarter, compared to analyst estimates of $498.15 million.

Mr. Cooper Group Price Performance

NASDAQ COOP opened at $78.76 on Friday. The stock has a market capitalization of $5.14 billion, a PE ratio of 8.25 and a beta of 1.38. Mr. Cooper Group has a 1 year low of $41.74 and a 1 year high of $81.98. The business’s 50-day moving average is $74.91 and its 200 day moving average is $66.39.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Jefferies Financial Group raised their target price on Mr. Cooper Group from $74.00 to $80.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. Wedbush boosted their price objective on Mr. Cooper Group from $85.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday. Barclays increased their target price on shares of Mr. Cooper Group from $85.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $92.00 price target (up previously from $86.00) on shares of Mr. Cooper Group in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Mr. Cooper Group from $88.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $82.22.

Insider Buying and Selling

In other news, CEO Jesse K. Bray sold 25,000 shares of Mr. Cooper Group stock in a transaction dated Monday, January 29th. The shares were 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 owns 391,051 shares of the company’s stock, valued at approximately $26,419,405.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, President Michael S. Weinbach purchased 17,000 shares of Mr. Cooper Group stock in a transaction that occurred on Tuesday, February 13th. The stock was bought at an average price of $71.16 per share, with a total value of $1,209,720.00. Following the completion of the transaction, the president now directly owns 17,000 shares of the company’s stock, valued at $1,209,720. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jesse K. Bray sold 25,000 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $67.56, for a total value 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 disclosure for this sale can be found here. Insiders sold 75,000 shares of company stock valued at $5,431,500 over the last quarter. 2.33% of the stock is owned by company insiders.

Institutional Trading of Mr. Cooper Group

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in Mr. Cooper Group in the 3rd quarter worth $198,000. Exchange Traded Concepts LLC bought a new position in shares of Mr. Cooper Group during the third quarter worth $667,000. Counterpoint Mutual Funds LLC bought a new stake in Mr. Cooper Group in the 3rd quarter valued at $219,000. Denali Advisors LLC purchased a new stake in Mr. Cooper Group in the 3rd quarter worth $933,000. Finally, Xponance Inc. grew its position in shares of Mr. Cooper Group by 47.1% during the third quarter. Xponance Inc. now owns 5,837 shares of the company’s stock valued at $313,000 after purchasing an additional 1,868 shares in the last quarter. 89.82% of the stock is currently owned by institutional investors.

Mr. Cooper Group Company Profile

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.