Mr. Cooper Group (NASDAQ:COOP) Shares Down 4.1% – Should You Sell?

Mr. Cooper Group Inc. (NASDAQ:COOP) dropped 4.1% on Wednesday . The stock traded as low as $86.88 and last traded at $87.36. Approximately 128,444 shares changed hands during trading, a decline of 71% from the average daily volume of 436,108 shares. The stock had previously closed at $91.06.

Analysts Set New Price Targets

Several analysts have recently issued reports on COOP shares. Keefe, Bruyette & Woods cut Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 price objective on the stock. in a report on Monday, July 22nd. Wedbush upped their price objective on Mr. Cooper Group from $100.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Barclays boosted their target price on Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Finally, Piper Sandler raised their target price on shares of Mr. Cooper Group from $91.00 to $106.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $96.29.

Mr. Cooper Group Stock Performance

The stock’s 50 day simple moving average is $92.07 and its 200-day simple moving average is $85.86. The firm has a market cap of $5.66 billion, a price-to-earnings ratio of 8.90 and a beta of 1.40.

Mr. Cooper Group (NASDAQ:COOP) last released its earnings results on Thursday, July 25th. The company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.19. Mr. Cooper Group had a return on equity of 14.10% and a net margin of 33.22%. The firm had revenue of $583.00 million for the quarter, compared to the consensus estimate of $552.09 million. During the same period in the prior year, the firm earned $1.66 EPS. The firm’s revenue was up 3.4% on a year-over-year basis. On average, analysts expect that Mr. Cooper Group Inc. will post 9.98 EPS for the current fiscal year.

Institutional Trading of Mr. Cooper Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Mr. Cooper Group by 5.4% in the fourth quarter. Vanguard Group Inc. now owns 7,626,038 shares of the company’s stock valued at $496,608,000 after purchasing an additional 391,780 shares during the period. Harbour Capital Advisors LLC grew its stake in Mr. Cooper Group by 79.6% in the 1st quarter. Harbour Capital Advisors LLC now owns 11,955 shares of the company’s stock valued at $907,000 after acquiring an additional 5,300 shares during the period. Oliver Luxxe Assets LLC increased its holdings in Mr. Cooper Group by 1.8% in the 1st quarter. Oliver Luxxe Assets LLC now owns 21,125 shares of the company’s stock worth $1,647,000 after acquiring an additional 375 shares in the last quarter. AlphaMark Advisors LLC increased its holdings in Mr. Cooper Group by 6.9% in the 1st quarter. AlphaMark Advisors LLC now owns 4,675 shares of the company’s stock worth $364,000 after acquiring an additional 301 shares in the last quarter. Finally, Penbrook Management LLC purchased a new position in Mr. Cooper Group during the first quarter valued at $949,000. 89.82% of the stock is owned by institutional investors and hedge funds.

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.