Mr. Cooper Group (NASDAQ:COOP) Sets New 12-Month High – What’s Next?

Mr. Cooper Group Inc. (NASDAQ:COOP) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $97.91 and last traded at $97.90, with a volume of 129501 shares traded. The stock had previously closed at $96.47.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Piper Sandler boosted their price objective on Mr. Cooper Group from $91.00 to $106.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods downgraded Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 target price for the company. in a research report on Monday, July 22nd. Wedbush reissued an “outperform” rating and set a $115.00 price target on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Compass Point lifted their price objective on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, Barclays increased their target price 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. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Mr. Cooper Group currently has a consensus rating of “Moderate Buy” and an average price target of $98.00.

Mr. Cooper Group Trading Up 2.3 %

The firm has a market capitalization of $6.31 billion, a price-to-earnings ratio of 12.46 and a beta of 1.40. The stock’s fifty day moving average price is $91.92 and its two-hundred day moving average price is $86.86.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.30. Mr. Cooper Group had a return on equity of 13.77% and a net margin of 25.87%. The business had revenue of $616.00 million during the quarter, compared to analysts’ expectations of $548.09 million. During the same period in the prior year, the firm posted $2.79 EPS. The business’s quarterly revenue was up 32.8% compared to the same quarter last year. Analysts anticipate that Mr. Cooper Group Inc. will post 10.17 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mr. Cooper Group

Several hedge funds have recently added to or reduced their stakes in the stock. Prudent Man Advisors LLC acquired a new position in shares of Mr. Cooper Group in the 3rd quarter valued at $241,000. Los Angeles Capital Management LLC lifted its position in Mr. Cooper Group by 50.7% in the third quarter. Los Angeles Capital Management LLC now owns 32,592 shares of the company’s stock valued at $3,004,000 after acquiring an additional 10,964 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in Mr. Cooper Group by 12.9% in the third quarter. Crossmark Global Holdings Inc. now owns 5,186 shares of the company’s stock valued at $478,000 after acquiring an additional 591 shares during the last quarter. Assetmark Inc. boosted its stake in Mr. Cooper Group by 6.4% in the third quarter. Assetmark Inc. now owns 11,127 shares of the company’s stock valued at $1,026,000 after acquiring an additional 667 shares in the last quarter. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of Mr. Cooper Group during the third quarter worth about $52,000. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

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.