Mr. Cooper Group (NASDAQ:COOP) Trading Down 6.9% – Should You Sell?

Mr. Cooper Group Inc. (NASDAQ:COOP)’s share price dropped 6.9% on Wednesday . The stock traded as low as $109.18 and last traded at $108.41. Approximately 227,531 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 542,145 shares. The stock had previously closed at $116.50.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Citizens Jmp downgraded shares of Mr. Cooper Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 1st. JMP Securities reissued a “market outperform” rating and set a $115.00 price objective on shares of Mr. Cooper Group in a research report on Thursday, February 13th. Keefe, Bruyette & Woods boosted their target price on Mr. Cooper Group from $115.00 to $143.00 and gave the company a “market perform” rating in a research note on Tuesday. Piper Sandler downgraded Mr. Cooper Group from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $125.00 to $143.00 in a research note on Friday, April 4th. Finally, UBS Group boosted 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. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $119.78.

Mr. Cooper Group Trading Up 1.3 %

The stock has a fifty day moving average price of $109.93 and a 200 day moving average price of $100.90. The firm has a market cap of $7.00 billion, a price-to-earnings ratio of 10.81, a price-to-earnings-growth ratio of 0.32 and a beta of 1.17.

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 the consensus estimate of $2.65 by $0.08. Mr. Cooper Group had a return on equity of 14.76% and a net margin of 30.07%. On average, sell-side analysts forecast that Mr. Cooper Group Inc. will post 13.17 EPS for the current year.

Insider Buying and Selling

In related news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $112.24, for a total transaction of $3,367,200.00. Following the completion of the sale, the chief executive officer now owns 698,821 shares in the company, valued at $78,435,669.04. This represents a 4.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.33% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. MassMutual Private Wealth & Trust FSB increased its position in Mr. Cooper Group by 9,175.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 4,916 shares of the company’s stock worth $472,000 after acquiring an additional 4,863 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Mr. Cooper Group in the 4th quarter worth $1,603,000. World Investment Advisors LLC acquired a new stake in Mr. Cooper Group in the 3rd quarter worth $2,537,000. Spire Wealth Management bought a new position in shares of Mr. Cooper Group during the 4th quarter worth about $1,480,000. Finally, JPMorgan Chase & Co. raised its position in shares of Mr. Cooper Group by 15.5% during the fourth quarter. JPMorgan Chase & Co. now owns 644,159 shares of the company’s stock valued at $61,846,000 after buying an additional 86,510 shares during the last quarter. 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.