Mr. Cooper Group (NASDAQ:COOP) Price Target Raised to $120.00

Mr. Cooper Group (NASDAQ:COOP) had its price target lifted by Piper Sandler from $113.00 to $120.00 in a research note released on Wednesday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Several other research analysts have also recently issued reports on COOP. Barclays upped 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. JMP Securities initiated coverage on Mr. Cooper Group in a report on Tuesday, January 14th. They set an “outperform” rating and a $115.00 target price for the company. Wedbush reissued an “outperform” rating and issued a $115.00 price target on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Compass Point upped their price objective on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Citizens Jmp raised shares of Mr. Cooper Group to a “strong-buy” rating in a research report on Tuesday, January 14th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $104.13.

Mr. Cooper Group Stock Up 1.2 %

Shares of Mr. Cooper Group stock opened at $104.12 on Wednesday. The business has a fifty day simple moving average of $97.05 and a 200-day simple moving average of $93.06. The firm has a market cap of $6.66 billion, a price-to-earnings ratio of 13.45, a price-to-earnings-growth ratio of 0.30 and a beta of 1.43. Mr. Cooper Group has a fifty-two week low of $64.52 and a fifty-two 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 for the quarter, beating analysts’ consensus estimates of $2.54 by $0.30. The company had revenue of $616.00 million during the quarter, compared to the consensus estimate of $548.09 million. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%. Mr. Cooper Group’s revenue was up 32.8% on a year-over-year basis. During the same period in the prior year, the company earned $2.79 EPS. Analysts anticipate that Mr. Cooper Group will post 10.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $97.58, for a total transaction of $2,927,400.00. Following the completion of the sale, the chief executive officer now directly owns 788,821 shares in the company, valued at approximately $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 can be accessed through the SEC website. Insiders have sold a total of 90,000 shares of company stock valued at $8,414,400 in the last 90 days. 2.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mr. Cooper Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in shares of Mr. Cooper Group by 1.9% in the third quarter. State Street Corp now owns 2,726,946 shares of the company’s stock worth $251,370,000 after acquiring an additional 51,667 shares during the last quarter. Assenagon Asset Management S.A. grew its stake 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 in the last quarter. Charles Schwab Investment Management Inc. increased its position in Mr. Cooper Group by 6.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 916,365 shares of the company’s stock worth $84,471,000 after purchasing an additional 52,001 shares during the last quarter. Basswood Capital Management L.L.C. raised its stake in shares of Mr. Cooper Group by 36.6% during the 3rd quarter. Basswood Capital Management L.L.C. now owns 496,243 shares of the company’s stock worth $45,744,000 after purchasing an additional 132,970 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of Mr. Cooper Group by 42.9% during the 3rd quarter. FMR LLC now owns 485,907 shares of the company’s stock valued at $44,791,000 after buying an additional 145,767 shares during the last quarter. Hedge funds and other institutional investors own 89.82% of the company’s stock.

Mr. Cooper Group Company Profile

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.