Mr. Cooper Group (NASDAQ:COOP) Hits New 12-Month High – Still a Buy?

Mr. Cooper Group Inc. (NASDAQ:COOP) hit a new 52-week high on Friday . The company traded as high as $103.42 and last traded at $103.17, with a volume of 65814 shares trading hands. The stock had previously closed at $101.44.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on COOP shares. Citizens Jmp upgraded shares of Mr. Cooper Group to a “strong-buy” rating in a research report on Tuesday. JMP Securities began coverage on shares of Mr. Cooper Group in a report on Tuesday. They set an “outperform” rating and a $115.00 price target for the company. Compass Point lifted their price objective on Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Wedbush reiterated 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, Barclays raised their price target on Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $102.38.

Mr. Cooper Group Price Performance

The stock has a 50-day simple moving average of $96.54 and a 200 day simple moving average of $92.11. The company has a market capitalization of $6.61 billion, a PE ratio of 13.33, a P/E/G ratio of 0.27 and a beta of 1.43.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.54 by $0.30. Mr. Cooper Group had a return on equity of 13.77% and a net margin of 25.87%. The company had revenue of $616.00 million during the quarter, compared to analysts’ expectations of $548.09 million. During the same period in the previous year, the firm posted $2.79 earnings per share. The business’s revenue for the quarter was up 32.8% compared to the same quarter last year. As a group, research analysts predict that Mr. Cooper Group Inc. will post 10.18 EPS for the current fiscal year.

Insider Transactions at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 30,000 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $94.49, for a total value of $2,834,700.00. Following the completion of the transaction, the chief executive officer now directly owns 758,821 shares in the company, valued at approximately $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 can be accessed through the SEC website. Insiders sold a total of 90,000 shares of company stock valued at $8,414,400 over the last three months. 2.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mr. Cooper Group

Institutional investors have recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in 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. Basswood Capital Management L.L.C. boosted its holdings in Mr. Cooper Group by 36.6% in the third quarter. Basswood Capital Management L.L.C. now owns 496,243 shares of the company’s stock valued at $45,744,000 after purchasing an additional 132,970 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Mr. Cooper Group by 11.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,247,434 shares of the company’s stock valued at $114,988,000 after purchasing an additional 125,055 shares during the last quarter. Barclays PLC boosted its holdings in Mr. Cooper Group by 198.0% in the third quarter. Barclays PLC now owns 132,017 shares of the company’s stock valued at $12,170,000 after purchasing an additional 87,712 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its stake in Mr. Cooper Group by 746.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 66,753 shares of the company’s stock worth $5,422,000 after buying an additional 58,867 shares during the last quarter. 89.82% of the stock is currently 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.