Mr. Cooper Group (NASDAQ:COOP) Price Target Raised to $103.00

Mr. Cooper Group (NASDAQ:COOP) had its price objective increased by research analysts at Barclays from $94.00 to $103.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 8.66% from the stock’s previous close.

Several other analysts also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Mr. Cooper Group from $88.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Piper Sandler raised their target price on shares of Mr. Cooper Group from $91.00 to $106.00 and gave the company an “overweight” rating in a research note on Friday. Keefe, Bruyette & Woods cut shares of Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 target price on the stock. in a research note on Monday. Jefferies Financial Group raised their target price on shares of Mr. Cooper Group from $74.00 to $80.00 and gave the company a “hold” rating in a research note on Friday, April 19th. Finally, Wedbush raised their target price on shares of Mr. Cooper Group from $100.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Mr. Cooper Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.88.

Mr. Cooper Group Stock Performance

Shares of Mr. Cooper Group stock traded up $2.25 during trading hours on Friday, reaching $94.79. The company’s stock had a trading volume of 206,638 shares, compared to its average volume of 451,104. The stock has a market cap of $6.13 billion, a P/E ratio of 9.93 and a beta of 1.39. The company’s 50 day simple moving average is $83.16 and its 200 day simple moving average is $76.74. Mr. Cooper Group has a one year low of $52.46 and a one year high of $95.74.

Mr. Cooper Group (NASDAQ:COOP) last issued its quarterly earnings data on Wednesday, April 24th. The company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.17. The firm had revenue of $564.00 million for the quarter, compared to the consensus estimate of $498.15 million. Mr. Cooper Group had a net margin of 31.75% and a return on equity of 13.31%. On average, sell-side analysts predict that Mr. Cooper Group will post 9.37 earnings per share for the current fiscal year.

Insider Transactions at Mr. Cooper Group

In other news, CEO Michael R. Rawls sold 27,000 shares of Mr. Cooper Group stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $82.18, for a total value of $2,218,860.00. Following the transaction, the chief executive officer now owns 57,623 shares of the company’s stock, valued at approximately $4,735,458.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Michael R. Rawls sold 27,000 shares of Mr. Cooper Group stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $82.18, for a total value of $2,218,860.00. Following the transaction, the chief executive officer now directly owns 57,623 shares of the company’s stock, valued at $4,735,458.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jesse K. Bray sold 25,000 shares of Mr. Cooper Group stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $81.42, for a total transaction of $2,035,500.00. Following the completion of the transaction, the chief executive officer now directly owns 284,631 shares in the company, valued at $23,174,656.02. The disclosure for this sale can be found here. Insiders have sold 102,000 shares of company stock valued at $8,247,360 in the last quarter. Insiders own 2.33% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Triasima Portfolio Management inc. purchased a new position in shares of Mr. Cooper Group in the fourth quarter worth approximately $1,354,000. Cercano Management LLC acquired a new stake in shares of Mr. Cooper Group during the fourth quarter worth approximately $23,527,000. Federated Hermes Inc. boosted its holdings in shares of Mr. Cooper Group by 106.7% during the fourth quarter. Federated Hermes Inc. now owns 20,223 shares of the company’s stock worth $1,317,000 after purchasing an additional 10,437 shares during the period. K2 Principal Fund L.P. boosted its holdings in shares of Mr. Cooper Group by 97.7% during the fourth quarter. K2 Principal Fund L.P. now owns 279,510 shares of the company’s stock worth $18,202,000 after purchasing an additional 138,147 shares during the period. Finally, Allianz Asset Management GmbH boosted its holdings in shares of Mr. Cooper Group by 2,060.4% during the fourth quarter. Allianz Asset Management GmbH now owns 102,423 shares of the company’s stock worth $6,670,000 after purchasing an additional 97,682 shares during the period. 89.82% of the stock is owned by hedge funds and other institutional investors.

About Mr. Cooper Group

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.