Mr. Cooper Group (NASDAQ:COOP) Hits New 1-Year High – Time to Buy?

Mr. Cooper Group Inc. (NASDAQ:COOP) hit a new 52-week high during trading on Friday . The company traded as high as $103.42 and last traded at $103.17, with a volume of 65814 shares. The stock had previously closed at $101.44.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on COOP shares. Citizens Jmp upgraded shares of Mr. Cooper Group to a “strong-buy” rating in a report on Tuesday, January 14th. JMP Securities began coverage on shares of Mr. Cooper Group in a research report on Tuesday, January 14th. They set an “outperform” rating and a $115.00 price target for the company. Barclays upped their price target on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. 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. Finally, Compass Point upped 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. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.38.

Mr. Cooper Group Stock Up 2.2 %

The firm’s 50 day simple moving average is $96.59 and its 200-day simple moving average is $92.35. The company has a market capitalization of $6.63 billion, a PE ratio of 13.40, a P/E/G ratio of 0.27 and a beta of 1.43.

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. The company had revenue of $616.00 million during the quarter, compared to the consensus estimate of $548.09 million. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%. Mr. Cooper Group’s revenue for the quarter was up 32.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.79 earnings per share. As a group, sell-side analysts anticipate that Mr. Cooper Group Inc. will post 10.18 EPS for the current fiscal year.

Insider Activity

In other news, CEO Jesse K. Bray sold 30,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 818,821 shares in the company, valued at approximately $72,391,964.61. This represents a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders sold 90,000 shares of company stock worth $8,414,400. 2.33% of the stock is currently owned by company insiders.

Institutional Trading of Mr. Cooper Group

Several institutional investors have recently added to or reduced their stakes in COOP. Federated Hermes Inc. raised its holdings in Mr. Cooper Group by 2.3% in the second quarter. Federated Hermes Inc. now owns 20,689 shares of the company’s stock valued at $1,681,000 after acquiring an additional 466 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Mr. Cooper Group by 5.0% in the second quarter. Envestnet Asset Management Inc. now owns 22,251 shares of the company’s stock valued at $1,807,000 after acquiring an additional 1,067 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Mr. Cooper Group by 27.5% in the second quarter. Renaissance Technologies LLC now owns 69,599 shares of the company’s stock valued at $5,654,000 after acquiring an additional 15,000 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in Mr. Cooper Group by 4.6% in the second quarter. Mercer Global Advisors Inc. ADV now owns 8,210 shares of the company’s stock valued at $667,000 after acquiring an additional 362 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Mr. Cooper Group in the second quarter valued at $1,742,000. 89.82% of the stock is owned by institutional investors and hedge funds.

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.