Mr. Cooper Group (NASDAQ:COOP) Sets New 1-Year High – What’s Next?

Mr. Cooper Group Inc (NASDAQ:COOP) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $203.42 and last traded at $202.86, with a volume of 1302658 shares. The stock had previously closed at $191.75.

Analyst Ratings Changes

A number of research firms recently issued reports on COOP. UBS Group set a $176.00 price target on Mr. Cooper Group in a report on Tuesday, August 5th. Jefferies Financial Group raised their price objective on shares of Mr. Cooper Group from $110.00 to $150.00 and gave the company a “hold” rating in a research report on Tuesday, July 22nd. Piper Sandler raised their price objective on shares of Mr. Cooper Group from $143.00 to $158.00 and gave the company a “neutral” rating in a research report on Tuesday, July 1st. Finally, Barclays raised their price objective on shares of Mr. Cooper Group from $147.00 to $156.00 and gave the company an “overweight” rating in a research report on Tuesday, July 8th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $140.38.

Mr. Cooper Group Stock Performance

The stock’s 50-day moving average price is $158.21 and its 200-day moving average price is $129.91. The company has a market capitalization of $12.24 billion, a price-to-earnings ratio of 21.88 and a beta of 0.98.

Mr. Cooper Group (NASDAQ:COOP) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $3.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.28 by ($0.15). Mr. Cooper Group had a net margin of 25.38% and a return on equity of 15.66%. The company had revenue of $608.00 million for the quarter, compared to analyst estimates of $669.23 million. During the same quarter in the previous year, the business posted $3.10 earnings per share. Mr. Cooper Group’s revenue was up 8.6% on a year-over-year basis. Analysts anticipate that Mr. Cooper Group Inc will post 13.17 earnings per share for the current year.

Insider Activity

In other news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $174.72, for a total transaction of $5,241,600.00. Following the completion of the sale, the chief executive officer directly owned 663,187 shares in the company, valued at approximately $115,872,032.64. This trade represents a 4.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.73% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Invesco Ltd. raised its position in shares of Mr. Cooper Group by 11.8% during the 1st quarter. Invesco Ltd. now owns 2,013,536 shares of the company’s stock worth $240,819,000 after purchasing an additional 213,167 shares during the last quarter. Norges Bank acquired a new position in shares of Mr. Cooper Group during the 2nd quarter worth approximately $258,538,000. Assenagon Asset Management S.A. raised its position in shares of Mr. Cooper Group by 13.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,057,176 shares of the company’s stock worth $126,438,000 after purchasing an additional 129,414 shares during the last quarter. Third Point LLC acquired a new position in shares of Mr. Cooper Group during the 2nd quarter worth approximately $138,019,000. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Mr. Cooper Group by 16.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 871,902 shares of the company’s stock worth $83,712,000 after purchasing an additional 125,897 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.