Mr. Cooper Group (NASDAQ:COOP) Lowered to “Market Perform” at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods cut shares of Mr. Cooper Group (NASDAQ:COOP) from an outperform rating to a market perform rating in a report published on Monday morning, MarketBeat.com reports. They currently have $95.00 price objective on the stock.

COOP has been the subject of several other research reports. Jefferies Financial Group upped their target price on Mr. Cooper Group from $74.00 to $80.00 and gave the stock a hold rating in a research note on Friday, April 19th. Barclays increased their target price on Mr. Cooper Group from $85.00 to $94.00 and gave the company an overweight rating in a report on Thursday, April 25th. Wedbush raised their price target on shares of Mr. Cooper Group from $85.00 to $100.00 and gave the stock an outperform rating in a report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Mr. Cooper Group from $88.00 to $90.00 and gave the stock a buy rating in a report on Thursday, April 25th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Mr. Cooper Group currently has an average rating of Moderate Buy and an average price target of $85.50.

Mr. Cooper Group Stock Performance

NASDAQ COOP opened at $86.64 on Monday. Mr. Cooper Group has a 52-week low of $52.46 and a 52-week high of $90.33. The company has a fifty day moving average of $82.99 and a 200-day moving average of $76.63. The company has a market capitalization of $5.61 billion, a P/E ratio of 9.07 and a beta of 1.39.

Mr. Cooper Group (NASDAQ:COOP) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.11 by $0.17. Mr. Cooper Group had a return on equity of 13.31% and a net margin of 31.75%. The firm had revenue of $564.00 million during the quarter, compared to analyst estimates of $498.15 million. As a group, analysts forecast that Mr. Cooper Group will post 9.37 EPS for the current fiscal year.

Insider Transactions at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 25,000 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $78.79, for a total transaction of $1,969,750.00. Following the sale, the chief executive officer now owns 309,631 shares in the company, valued at approximately $24,395,826.49. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Jesse K. Bray sold 25,000 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $78.79, for a total value of $1,969,750.00. Following the sale, the chief executive officer now directly owns 309,631 shares of the company’s stock, valued at $24,395,826.49. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael R. Rawls sold 27,000 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $82.18, for a total transaction of $2,218,860.00. Following the sale, the chief executive officer now owns 57,623 shares of the company’s stock, valued at $4,735,458.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,000 shares of company stock valued at $8,247,360. Corporate insiders own 2.33% of the company’s stock.

Institutional Trading of Mr. Cooper Group

Several institutional investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Mr. Cooper Group during the fourth quarter valued at $47,104,000. Goldman Sachs Group Inc. grew its stake in shares of Mr. Cooper Group by 198.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 663,530 shares of the company’s stock worth $43,209,000 after acquiring an additional 441,282 shares during the period. Vanguard Group Inc. raised its holdings in shares of Mr. Cooper Group by 5.4% during the fourth quarter. Vanguard Group Inc. now owns 7,626,038 shares of the company’s stock valued at $496,608,000 after purchasing an additional 391,780 shares during the last quarter. Cercano Management LLC bought a new position in Mr. Cooper Group during the fourth quarter valued at approximately $23,527,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Mr. Cooper Group by 984.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 390,957 shares of the company’s stock worth $30,476,000 after purchasing an additional 354,905 shares during the last quarter. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

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.