Mr. Cooper Group (NASDAQ:COOP) Stock Price Expected to Rise, Piper Sandler Analyst Says

Mr. Cooper Group (NASDAQ:COOP) had its target price raised by investment analysts at Piper Sandler from $113.00 to $120.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 15.89% from the stock’s current price.

A number of other analysts also recently commented on COOP. Compass Point boosted their price target on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Wedbush reissued an “outperform” rating and issued a $115.00 target price on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Citizens Jmp upgraded Mr. Cooper Group to a “strong-buy” rating in a report on Tuesday, January 14th. JMP Securities initiated coverage on Mr. Cooper Group in a report on Tuesday, January 14th. They set an “outperform” rating and a $115.00 price target on the stock. Finally, Barclays increased their price objective on Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $104.13.

Mr. Cooper Group Price Performance

COOP traded up $0.74 during trading hours on Wednesday, hitting $103.55. 65,823 shares of the stock were exchanged, compared to its average volume of 447,184. The stock has a 50-day simple moving average of $96.67 and a 200-day simple moving average of $92.75. Mr. Cooper Group has a 12 month low of $64.35 and a 12 month high of $105.00. The stock has a market cap of $6.63 billion, a price-to-earnings ratio of 13.36, a price-to-earnings-growth ratio of 0.30 and a beta of 1.43.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings results 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. The business had revenue of $616.00 million for the quarter, compared to the consensus estimate of $548.09 million. Mr. Cooper Group had a return on equity of 13.77% and a net margin of 25.87%. The business’s revenue was up 32.8% on a year-over-year basis. During the same quarter last year, the business posted $2.79 EPS. Sell-side analysts expect that Mr. Cooper Group will post 10.18 EPS for the current year.

Insider Activity

In related news, CEO Jesse K. Bray sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $88.41, for a total value of $2,652,300.00. Following the completion of the sale, the chief executive officer now owns 818,821 shares of the company’s stock, valued at $72,391,964.61. This trade represents a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last three months, insiders have sold 90,000 shares of company stock worth $8,414,400. Corporate insiders own 2.33% of the company’s stock.

Institutional Investors Weigh In On Mr. Cooper Group

A number of institutional investors have recently made changes to their positions in COOP. FMR LLC lifted its stake in Mr. Cooper Group by 42.9% in the third quarter. FMR LLC now owns 485,907 shares of the company’s stock valued at $44,791,000 after buying an additional 145,767 shares in the last quarter. Basswood Capital Management L.L.C. raised its holdings in shares of Mr. Cooper Group by 36.6% in the 3rd quarter. Basswood Capital Management L.L.C. now owns 496,243 shares of the company’s stock valued at $45,744,000 after purchasing an additional 132,970 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Mr. Cooper Group by 11.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,247,434 shares of the company’s stock valued at $114,988,000 after buying an additional 125,055 shares during the last quarter. Barclays PLC lifted its holdings in Mr. Cooper Group by 198.0% during the 3rd quarter. Barclays PLC now owns 132,017 shares of the company’s stock valued at $12,170,000 after purchasing an additional 87,712 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of Mr. Cooper Group by 746.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 66,753 shares of the company’s stock worth $5,422,000 after buying an additional 58,867 shares during the period. 89.82% of the stock is 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.