Mr. Cooper Group Inc. (NASDAQ:COOP) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Mr. Cooper Group Inc. (NASDAQ:COOP) have earned a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $98.00.

A number of research firms have commented on COOP. Compass Point lifted their target price 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. Barclays raised their target price on Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Wedbush reaffirmed an “outperform” rating and set a $115.00 price target on shares of Mr. Cooper Group in a research report on Thursday, October 24th.

Insiders Place Their Bets

In related news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $88.41, for a total transaction of $2,652,300.00. Following the completion of the sale, the chief executive officer now owns 818,821 shares in the company, valued at approximately $72,391,964.61. This trade represents a 3.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in COOP. Financial Management Professionals Inc. bought a new stake in shares of Mr. Cooper Group during the third quarter valued at approximately $30,000. Blue Trust Inc. increased its holdings in Mr. Cooper Group by 77.1% in the 2nd quarter. Blue Trust Inc. now owns 333 shares of the company’s stock valued at $26,000 after acquiring an additional 145 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Mr. Cooper Group by 8,275.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company’s stock worth $27,000 after purchasing an additional 331 shares in the last quarter. Quarry LP bought a new position in shares of Mr. Cooper Group during the 2nd quarter valued at about $29,000. Finally, Harvest Fund Management Co. Ltd grew its position in shares of Mr. Cooper Group by 152.5% during the third quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock valued at $41,000 after purchasing an additional 270 shares in the last quarter. 89.82% of the stock is owned by hedge funds and other institutional investors.

Mr. Cooper Group Price Performance

COOP stock opened at $98.67 on Friday. Mr. Cooper Group has a 1-year low of $60.01 and a 1-year high of $103.05. The stock has a market capitalization of $6.31 billion, a P/E ratio of 12.75 and a beta of 1.40. The business has a fifty day moving average price of $94.14 and a 200-day moving average price of $88.87.

Mr. Cooper Group (NASDAQ:COOP) last issued its earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $548.09 million. During the same quarter in the previous year, the firm earned $2.79 EPS. Mr. Cooper Group’s revenue was up 32.8% on a year-over-year basis. As a group, analysts anticipate that Mr. Cooper Group will post 10.16 earnings per share for the current year.

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.