Mr. Cooper Group (NASDAQ:COOP) Trading Up 7.8% – What’s Next?

Mr. Cooper Group Inc. (NASDAQ:COOP) shares traded up 7.8% during trading on Wednesday . The company traded as high as $134.94 and last traded at $134.90. 265,922 shares were traded during trading, a decline of 48% from the average session volume of 508,225 shares. The stock had previously closed at $125.08.

Wall Street Analysts Forecast Growth

Several analysts have commented on COOP shares. UBS Group upped their target price on shares of Mr. Cooper Group from $122.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. JMP Securities reissued a “market outperform” rating and issued a $115.00 target price on shares of Mr. Cooper Group in a research note on Thursday, February 13th. Barclays raised their target price on Mr. Cooper Group from $111.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Piper Sandler upped their price target on Mr. Cooper Group from $113.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Mr. Cooper Group from $105.00 to $115.00 and gave the stock a “market perform” rating in a research note on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $112.22.

Mr. Cooper Group Stock Performance

The firm’s fifty day simple moving average is $106.80 and its 200 day simple moving average is $99.15. The stock has a market capitalization of $8.59 billion, a price-to-earnings ratio of 13.14, a P/E/G ratio of 0.32 and a beta of 1.49.

Mr. Cooper Group (NASDAQ:COOP) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $2.73 EPS for the quarter, topping analysts’ consensus estimates of $2.65 by $0.08. Mr. Cooper Group had a net margin of 30.07% and a return on equity of 14.76%. Analysts forecast that Mr. Cooper Group Inc. will post 13.17 earnings per share for the current year.

Insiders Place Their Bets

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $112.24, for a total transaction of $3,367,200.00. Following the sale, the chief executive officer now directly owns 698,821 shares of the company’s stock, valued at $78,435,669.04. The trade was a 4.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 2.33% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Picton Mahoney Asset Management grew its stake in shares of Mr. Cooper Group by 41.3% in the fourth quarter. Picton Mahoney Asset Management now owns 325 shares of the company’s stock valued at $31,000 after buying an additional 95 shares in the last quarter. Penbrook Management LLC raised its holdings in shares of Mr. Cooper Group by 0.6% in the 1st quarter. Penbrook Management LLC now owns 15,825 shares of the company’s stock valued at $1,893,000 after purchasing an additional 100 shares during the period. Williamson Legacy Group LLC lifted its stake in Mr. Cooper Group by 1.1% in the 4th quarter. Williamson Legacy Group LLC now owns 10,835 shares of the company’s stock valued at $1,040,000 after purchasing an additional 118 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in Mr. Cooper Group by 2.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 4,984 shares of the company’s stock worth $479,000 after purchasing an additional 128 shares during the period. Finally, Dakota Wealth Management increased its position in Mr. Cooper Group by 0.7% during the fourth quarter. Dakota Wealth Management now owns 27,695 shares of the company’s stock worth $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.