Mr. Cooper Group (NASDAQ:COOP) Hits New 1-Year High – Time to Buy?

Mr. Cooper Group Inc. (NASDAQ:COOP) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $112.54 and last traded at $112.55, with a volume of 174998 shares. The stock had previously closed at $110.79.

Wall Street Analysts Forecast Growth

COOP has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods raised 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 report on Thursday, February 13th. UBS Group lifted their price target on Mr. Cooper Group from $122.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Citizens Jmp upgraded Mr. Cooper Group to a “strong-buy” rating in a report on Tuesday, January 14th. JMP Securities restated 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. Finally, Piper Sandler upped their price target on Mr. Cooper Group from $113.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Mr. Cooper Group has an average rating of “Moderate Buy” and an average price target of $112.22.

Mr. Cooper Group Stock Up 0.8 %

The stock has a 50 day simple moving average of $102.29 and a two-hundred day simple moving average of $96.73. The stock has a market capitalization of $7.15 billion, a P/E ratio of 11.04, a P/E/G ratio of 0.32 and a beta of 1.43.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $2.73 EPS for the quarter, beating 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%. Sell-side analysts predict that Mr. Cooper Group Inc. will post 13.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $94.49, for a total transaction of $2,834,700.00. Following the completion of the transaction, the chief executive officer now directly owns 758,821 shares of the company’s stock, valued at $71,700,996.29. The trade was a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mr. Cooper Group

Hedge funds have recently bought and sold shares of the stock. Picton Mahoney Asset Management grew its position 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 purchasing an additional 95 shares during the last quarter. Harvest Fund Management Co. Ltd grew its holdings in Mr. Cooper Group by 152.5% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock valued at $41,000 after buying an additional 270 shares in the last quarter. Asset Planning Inc acquired a new position in Mr. Cooper Group in the 4th quarter valued at $48,000. ORG Partners LLC bought a new position in Mr. Cooper Group during the 4th quarter worth $51,000. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Mr. Cooper Group in the third quarter valued at about $52,000. 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.