Mr. Cooper Group Inc. (NASDAQ:COOP) Receives $100.57 Average Price Target from Brokerages

Mr. Cooper Group Inc. (NASDAQ:COOP) has been assigned an average rating of “Moderate Buy” from the seven brokerages that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $100.57.

A number of equities analysts have recently issued reports on COOP shares. Compass Point upped their price objective on Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Wedbush restated an “outperform” rating and issued a $115.00 target price on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Finally, Barclays increased their price target on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th.

Mr. Cooper Group Price Performance

Shares of Mr. Cooper Group stock opened at $94.31 on Wednesday. Mr. Cooper Group has a 1 year low of $61.38 and a 1 year high of $103.05. The firm has a market cap of $6.03 billion, a PE ratio of 12.18 and a beta of 1.41. The company has a 50 day simple moving average of $95.41 and a two-hundred day simple moving average of $90.87.

Mr. Cooper Group (NASDAQ:COOP) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. The firm’s revenue was up 32.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.79 EPS. As a group, research analysts anticipate that Mr. Cooper Group will post 10.16 earnings per share for the current year.

Insider Activity at Mr. Cooper Group

In related 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 transaction of $2,652,300.00. Following the completion of the sale, the chief executive officer now directly owns 818,821 shares in the company, valued at $72,391,964.61. This represents a 3.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mr. Cooper Group

A number of large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake in shares of Mr. Cooper Group by 8,275.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company’s stock worth $27,000 after purchasing an additional 331 shares during the last quarter. Quarry LP purchased a new stake in Mr. Cooper Group in the 2nd quarter worth approximately $29,000. Financial Management Professionals Inc. bought a new stake in shares of Mr. Cooper Group in the 3rd quarter worth approximately $30,000. Harvest Fund Management Co. Ltd increased 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 buying an additional 270 shares during the period. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of Mr. Cooper Group during the third quarter valued at approximately $52,000. 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.