Mr. Cooper Group (NASDAQ:COOP) Given New $120.00 Price Target at Piper Sandler

Mr. Cooper Group (NASDAQ:COOP) had its target price upped by investment analysts at Piper Sandler from $113.00 to $120.00 in a report released on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s target price suggests a potential upside of 16.65% from the company’s previous close.

Several other brokerages have also issued reports on COOP. Citizens Jmp raised Mr. Cooper Group to a “strong-buy” rating in a research note on Tuesday, January 14th. Wedbush reaffirmed an “outperform” rating and set a $115.00 price target on shares of Mr. Cooper Group in a research note on Thursday, October 24th. JMP Securities started coverage on Mr. Cooper Group in a research note on Tuesday, January 14th. They set an “outperform” rating and a $115.00 price target on the stock. Barclays upped their price objective on Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, Compass Point upped 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. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $104.13.

Mr. Cooper Group Stock Performance

Mr. Cooper Group stock opened at $102.87 on Wednesday. The firm has a market cap of $6.58 billion, a P/E ratio of 13.29, a P/E/G ratio of 0.30 and a beta of 1.43. The business’s fifty day moving average is $96.89 and its two-hundred day moving average is $92.89. Mr. Cooper Group has a 52 week low of $64.35 and a 52 week high of $105.00.

Mr. Cooper Group (NASDAQ:COOP) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $616.00 million for the quarter, compared to analyst estimates of $548.09 million. During the same quarter in the prior year, the firm posted $2.79 earnings per share. The firm’s revenue for the quarter was up 32.8% compared to the same quarter last year. On average, equities research analysts predict that Mr. Cooper Group will post 10.18 earnings per share for the current year.

Insider Transactions at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $97.58, for a total transaction of $2,927,400.00. Following the sale, the chief executive officer now owns 788,821 shares of the company’s stock, valued at $76,973,153.18. This trade represents a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 90,000 shares of company stock valued at $8,414,400 over the last 90 days. 2.33% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mr. Cooper Group

A number of hedge funds have recently modified their holdings of the business. Penbrook Management LLC raised its position in shares of Mr. Cooper Group by 37.9% during the fourth quarter. Penbrook Management LLC now owns 15,725 shares of the company’s stock worth $1,510,000 after purchasing an additional 4,325 shares during the period. KBC Group NV raised its position in shares of Mr. Cooper Group by 88.7% during the fourth quarter. KBC Group NV now owns 3,306 shares of the company’s stock worth $317,000 after purchasing an additional 1,554 shares during the period. Blue Trust Inc. raised its position in shares of Mr. Cooper Group by 94.2% during the fourth quarter. Blue Trust Inc. now owns 1,111 shares of the company’s stock worth $102,000 after purchasing an additional 539 shares during the period. CX Institutional raised its position in Mr. Cooper Group by 3.7% in the 4th quarter. CX Institutional now owns 16,211 shares of the company’s stock valued at $1,556,000 after buying an additional 579 shares during the last quarter. Finally, Dakota Wealth Management raised its position in Mr. Cooper Group by 0.7% in the 4th quarter. Dakota Wealth Management now owns 27,695 shares of the company’s stock valued at $2,659,000 after buying an additional 181 shares during the last quarter. Institutional investors and hedge funds own 89.82% of the company’s stock.

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.