Mr. Cooper Group (NASDAQ:COOP) Reaches New 52-Week High – What’s Next?

Mr. Cooper Group Inc. (NASDAQ:COOP) shares reached a new 52-week high during trading on Monday . The company traded as high as $96.41 and last traded at $95.58, with a volume of 42426 shares trading hands. The stock had previously closed at $95.19.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Piper Sandler upped their price target on Mr. Cooper Group from $91.00 to $106.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Wedbush upped their target price on shares of Mr. Cooper Group from $100.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Barclays lifted their price target on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods cut shares of Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 price objective on the stock. in a report on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $96.29.

Mr. Cooper Group Trading Down 0.2 %

The company has a market cap of $6.19 billion, a P/E ratio of 9.07 and a beta of 1.40. The stock’s 50 day moving average is $91.18 and its 200-day moving average is $85.22.

Mr. Cooper Group (NASDAQ:COOP) last issued its earnings results on Thursday, July 25th. The company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.19. The firm had revenue of $583.00 million for the quarter, compared to the consensus estimate of $552.09 million. Mr. Cooper Group had a net margin of 33.22% and a return on equity of 14.10%. The business’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.66 earnings per share. As a group, sell-side analysts forecast that Mr. Cooper Group Inc. will post 9.98 EPS for the current year.

Institutional Trading of Mr. Cooper Group

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Mr. Cooper Group by 0.6% in the first quarter. Vanguard Group Inc. now owns 7,668,898 shares of the company’s stock worth $597,791,000 after purchasing an additional 42,860 shares during the last quarter. Wellington Management Group LLP increased its holdings in Mr. Cooper Group by 1.5% in the 4th quarter. Wellington Management Group LLP now owns 1,714,900 shares of the company’s stock worth $111,674,000 after buying an additional 25,351 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Mr. Cooper Group by 198.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 663,530 shares of the company’s stock worth $43,209,000 after buying an additional 441,282 shares during the last quarter. LSV Asset Management lifted its stake in Mr. Cooper Group by 249.2% during the 2nd quarter. LSV Asset Management now owns 633,260 shares of the company’s stock valued at $51,440,000 after acquiring an additional 451,926 shares during the period. Finally, Cercano Management LLC boosted its holdings in shares of Mr. Cooper Group by 39.1% during the 1st quarter. Cercano Management LLC now owns 502,618 shares of the company’s stock valued at $39,179,000 after acquiring an additional 141,332 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.