Mr. Cooper Group’s (COOP) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Mr. Cooper Group (NASDAQ:COOP) in a research note published on Thursday,Benzinga reports. JMP Securities currently has a $115.00 target price on the stock.

Several other research firms have also commented on COOP. Piper Sandler upped their target price on Mr. Cooper Group from $113.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Wedbush reiterated an “outperform” rating and set a $115.00 price objective on shares of Mr. Cooper Group in a report on Thursday, October 24th. Barclays boosted their target price on shares of Mr. Cooper Group from $111.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday. Citizens Jmp raised shares of Mr. Cooper Group to a “strong-buy” rating in a research note on Tuesday, January 14th. Finally, Compass Point boosted their price objective on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $109.38.

Mr. Cooper Group Price Performance

Mr. Cooper Group stock opened at $107.86 on Thursday. The stock has a market capitalization of $6.90 billion, a P/E ratio of 13.94, a P/E/G ratio of 0.31 and a beta of 1.43. Mr. Cooper Group has a 12-month low of $70.01 and a 12-month high of $109.72. The firm’s 50-day moving average is $99.48 and its two-hundred day moving average is $95.02.

Mr. Cooper Group (NASDAQ:COOP) last announced its earnings results on Wednesday, February 12th. The company reported $2.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.08. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%. As a group, analysts forecast 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 stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $94.49, for a total value of $2,834,700.00. Following the completion of the sale, the chief executive officer now directly owns 758,821 shares in the company, valued at approximately $71,700,996.29. This represents a 3.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.33% of the company’s stock.

Institutional Investors Weigh In On Mr. Cooper Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Financial Management Professionals Inc. purchased a new stake in shares of Mr. Cooper Group during the 3rd quarter valued at about $30,000. Picton Mahoney Asset Management grew its position in Mr. Cooper Group by 41.3% in the fourth quarter. Picton Mahoney Asset Management now owns 325 shares of the company’s stock valued at $31,000 after acquiring an additional 95 shares in the last quarter. Harvest Fund Management Co. Ltd raised its stake 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 during the period. Asset Planning Inc acquired a new position in shares of Mr. Cooper Group during the fourth quarter worth $48,000. Finally, ORG Partners LLC purchased a new position in shares of Mr. Cooper Group in the fourth quarter valued at $51,000. 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.