Mr. Cooper Group (NASDAQ:COOP) Sets New 52-Week High – Still a Buy?

Mr. Cooper Group Inc. (NASDAQ:COOP)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $96.41 and last traded at $95.58, with a volume of 42426 shares traded. The stock had previously closed at $95.19.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Barclays raised their price target on Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Piper Sandler raised their price target on Mr. Cooper Group from $91.00 to $106.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Wedbush raised their price target on Mr. Cooper Group from $100.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Keefe, Bruyette & Woods downgraded Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 price objective on the stock. in a report on Monday, July 22nd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $96.29.

Mr. Cooper Group Stock Performance

The company has a market capitalization of $6.25 billion, a PE ratio of 9.97 and a beta of 1.40. The business has a fifty day moving average price of $90.67 and a 200 day moving average price of $84.97.

Mr. Cooper Group (NASDAQ:COOP) last announced its earnings results on Thursday, July 25th. The company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.33 by $0.19. The business had revenue of $583.00 million for the quarter, compared to the consensus estimate of $552.09 million. Mr. Cooper Group had a return on equity of 14.10% and a net margin of 33.22%. The company’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the business posted $1.66 EPS. Research analysts forecast that Mr. Cooper Group Inc. will post 9.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mr. Cooper Group

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Mr. Cooper Group by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 7,668,898 shares of the company’s stock valued at $597,791,000 after buying an additional 42,860 shares during the period. Wellington Management Group LLP increased its holdings in Mr. Cooper Group by 1.5% during the 4th quarter. Wellington Management Group LLP now owns 1,714,900 shares of the company’s stock worth $111,674,000 after purchasing an additional 25,351 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Mr. Cooper Group by 198.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 663,530 shares of the company’s stock worth $43,209,000 after purchasing an additional 441,282 shares during the last quarter. LSV Asset Management increased its holdings in Mr. Cooper Group by 249.2% during the 2nd quarter. LSV Asset Management now owns 633,260 shares of the company’s stock worth $51,440,000 after purchasing an additional 451,926 shares during the last quarter. Finally, Cercano Management LLC increased its holdings in Mr. Cooper Group by 39.1% during the 1st quarter. Cercano Management LLC now owns 502,618 shares of the company’s stock worth $39,179,000 after purchasing an additional 141,332 shares during the last quarter. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

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.