Mr. Cooper Group (NASDAQ:COOP) Hits New 12-Month High – Should You Buy?

Shares of Mr. Cooper Group Inc. (NASDAQ:COOP) hit a new 52-week high on Friday . The stock traded as high as $110.69 and last traded at $110.03, with a volume of 27913 shares trading hands. The stock had previously closed at $109.15.

Analysts Set New Price Targets

Several brokerages have weighed in on COOP. Piper Sandler lifted 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. JMP Securities restated a “market outperform” rating and issued a $115.00 price target on shares of Mr. Cooper Group in a research note on Thursday, February 13th. Barclays boosted their target price on Mr. Cooper Group from $111.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Citizens Jmp upgraded Mr. Cooper Group to a “strong-buy” rating in a research report on Tuesday, January 14th. Finally, UBS Group upped their price objective on Mr. Cooper Group from $122.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $112.22.

Mr. Cooper Group Stock Performance

The company has a market cap of $7.07 billion, a P/E ratio of 10.86, a P/E/G ratio of 0.32 and a beta of 1.43. The business has a fifty day simple moving average of $100.78 and a 200 day simple moving average of $95.83.

Mr. Cooper Group (NASDAQ:COOP) last posted its earnings results on Wednesday, February 12th. The company reported $2.73 EPS for the quarter, beating the consensus estimate of $2.65 by $0.08. Mr. Cooper Group had a return on equity of 14.76% and a net margin of 30.07%. Equities research analysts expect that Mr. Cooper Group Inc. will post 13.17 EPS for the current year.

Insider Activity

In other news, CEO Jesse K. Bray sold 30,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $97.58, for a total value of $2,927,400.00. Following the completion of the sale, the chief executive officer now owns 788,821 shares of the company’s stock, valued at $76,973,153.18. This trade represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 2.33% of the stock is owned by insiders.

Institutional Trading of Mr. Cooper Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Financial Management Professionals Inc. acquired a new stake in Mr. Cooper Group during the third quarter valued at $30,000. Picton Mahoney Asset Management increased its stake in shares of Mr. Cooper Group by 41.3% in the fourth quarter. Picton Mahoney Asset Management now owns 325 shares of the company’s stock worth $31,000 after purchasing an additional 95 shares during the period. Harvest Fund Management Co. Ltd increased its stake in shares of Mr. Cooper Group by 152.5% in the third quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock worth $41,000 after purchasing an additional 270 shares during the period. Asset Planning Inc bought a new position in shares of Mr. Cooper Group in the fourth quarter worth about $48,000. Finally, ORG Partners LLC bought a new position in shares of Mr. Cooper Group in the fourth quarter worth about $51,000. Institutional investors and hedge funds 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.