Citizens Jmp Upgrades Mr. Cooper Group (NASDAQ:COOP) to “Strong-Buy”

Mr. Cooper Group (NASDAQ:COOP) was upgraded by Citizens Jmp to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

Several other equities research analysts also recently weighed in on COOP. JMP Securities initiated coverage on shares of Mr. Cooper Group in a research note on Tuesday. They issued an “outperform” rating and a $115.00 price target for the company. Compass Point boosted their target price on Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Wedbush reaffirmed an “outperform” rating and set a $115.00 price target on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Finally, Barclays raised their price objective on Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Mr. Cooper Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.38.

Mr. Cooper Group Price Performance

Shares of Mr. Cooper Group stock opened at $100.03 on Tuesday. The stock’s 50-day moving average is $96.41 and its 200 day moving average is $91.98. Mr. Cooper Group has a one year low of $61.38 and a one year high of $103.05. The firm has a market cap of $6.40 billion, a price-to-earnings ratio of 12.92 and a beta of 1.43.

Mr. Cooper Group (NASDAQ:COOP) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.30. The firm had revenue of $616.00 million for the quarter, compared to analysts’ expectations of $548.09 million. Mr. Cooper Group had a return on equity of 13.77% and a net margin of 25.87%. The company’s revenue for the quarter was up 32.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.79 EPS. On average, sell-side analysts expect that Mr. Cooper Group will post 10.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $97.58, for a total transaction of $2,927,400.00. Following the transaction, the chief executive officer now directly owns 788,821 shares of the company’s stock, valued at $76,973,153.18. The trade was a 3.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 90,000 shares of company stock valued at $8,414,400. Corporate insiders own 2.33% of the company’s stock.

Institutional Trading of Mr. Cooper Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Aristeia Capital L.L.C. grew its position in Mr. Cooper Group by 4.2% in the 2nd quarter. Aristeia Capital L.L.C. now owns 4,197 shares of the company’s stock worth $341,000 after purchasing an additional 169 shares in the last quarter. Truist Financial Corp boosted its stake in shares of Mr. Cooper Group by 1.6% in the 2nd quarter. Truist Financial Corp now owns 11,840 shares of the company’s stock worth $962,000 after buying an additional 187 shares during the last quarter. Evergreen Capital Management LLC grew its holdings in shares of Mr. Cooper Group by 4.2% in the second quarter. Evergreen Capital Management LLC now owns 5,236 shares of the company’s stock valued at $425,000 after acquiring an additional 211 shares in the last quarter. First Trust Direct Indexing L.P. increased its position in shares of Mr. Cooper Group by 7.6% during the third quarter. First Trust Direct Indexing L.P. now owns 3,021 shares of the company’s stock valued at $278,000 after acquiring an additional 213 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in Mr. Cooper Group by 71.8% during the third quarter. Blue Trust Inc. now owns 572 shares of the company’s stock worth $53,000 after acquiring an additional 239 shares during the period. Hedge funds and other institutional investors 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.