Wedbush Reiterates Outperform Rating for Mr. Cooper Group (NASDAQ:COOP)

Mr. Cooper Group (NASDAQ:COOP)‘s stock had its “outperform” rating restated by research analysts at Wedbush in a research report issued on Thursday, Benzinga reports. They currently have a $115.00 price target on the stock. Wedbush’s target price would indicate a potential upside of 30.19% from the stock’s previous close.

A number of other equities analysts also recently issued reports on COOP. Piper Sandler increased their price target on Mr. Cooper Group from $91.00 to $106.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Barclays boosted their price target on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods cut 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 analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $96.29.

Mr. Cooper Group Stock Up 1.1 %

Shares of NASDAQ:COOP traded up $0.96 during trading on Thursday, hitting $88.33. The stock had a trading volume of 196,936 shares, compared to its average volume of 441,530. The stock has a 50-day simple moving average of $92.05 and a two-hundred day simple moving average of $85.87. The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of 8.31 and a beta of 1.40. Mr. Cooper Group has a 12-month low of $52.73 and a 12-month high of $97.35.

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

Institutional Investors Weigh In On Mr. Cooper Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Mr. Cooper Group by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 7,668,898 shares of the company’s stock valued at $597,791,000 after buying an additional 42,860 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Mr. Cooper Group by 11.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,247,434 shares of the company’s stock worth $114,988,000 after purchasing an additional 125,055 shares during the last quarter. LSV Asset Management increased its holdings in Mr. Cooper Group by 249.2% in the second quarter. LSV Asset Management now owns 633,260 shares of the company’s stock valued at $51,440,000 after buying an additional 451,926 shares during the last quarter. Cercano Management LLC raised its position 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 worth $39,179,000 after acquiring an additional 141,332 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake 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 valued at $30,476,000 after acquiring an additional 354,905 shares in the last quarter. Institutional investors and hedge funds own 89.82% of the company’s stock.

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.