Barclays Forecasts Strong Price Appreciation for Mr. Cooper Group (NASDAQ:COOP) Stock

Mr. Cooper Group (NASDAQ:COOP) had its price objective hoisted by investment analysts at Barclays from $111.00 to $130.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target indicates a potential upside of 21.83% from the company’s previous close.

Other equities analysts have also issued reports about the company. Piper Sandler upped their target price on Mr. Cooper Group from $113.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Compass Point increased 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. Citizens Jmp raised shares of Mr. Cooper Group to a “strong-buy” rating in a report on Tuesday, January 14th. JMP Securities initiated coverage on shares of Mr. Cooper Group in a research note on Tuesday, January 14th. They issued an “outperform” rating and a $115.00 target price on the stock. Finally, Wedbush reiterated an “outperform” rating and issued a $115.00 price target on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $106.88.

Mr. Cooper Group Price Performance

Shares of COOP stock opened at $106.71 on Thursday. The company’s fifty day moving average price is $99.01 and its two-hundred day moving average price is $94.78. The firm has a market capitalization of $6.83 billion, a P/E ratio of 13.79, a P/E/G ratio of 0.31 and a beta of 1.43. Mr. Cooper Group has a 12 month low of $70.01 and a 12 month high of $108.56.

Mr. Cooper Group (NASDAQ:COOP) last announced its earnings results on Wednesday, February 12th. The company reported $2.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.08. Mr. Cooper Group had a return on equity of 13.77% and a net margin of 25.87%. On average, sell-side analysts anticipate that Mr. Cooper Group will post 10.18 EPS for the current year.

Insider Buying and Selling at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the 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 sale, the chief executive officer now directly owns 758,821 shares of the company’s stock, valued at $71,700,996.29. This trade represents a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mr. Cooper Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Financial Management Professionals Inc. bought a new stake in Mr. Cooper Group during the 3rd quarter valued at $30,000. Picton Mahoney Asset Management increased its holdings in shares of Mr. Cooper Group by 41.3% during the fourth quarter. Picton Mahoney Asset Management now owns 325 shares of the company’s stock valued at $31,000 after purchasing an additional 95 shares during the period. Harvest Fund Management Co. Ltd raised its stake in shares of Mr. Cooper Group by 152.5% during the third quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock valued at $41,000 after purchasing an additional 270 shares in the last quarter. Asset Planning Inc acquired a new stake in Mr. Cooper Group in the fourth quarter worth about $48,000. Finally, ORG Partners LLC bought a new position in Mr. Cooper Group in the 4th quarter valued at about $51,000. 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.