Mr. Cooper Group (NASDAQ:COOP) Shares Gap Up – Time to Buy?

Shares of Mr. Cooper Group Inc. (NASDAQ:COOP) gapped up before the market opened on Monday . The stock had previously closed at $104.49, but opened at $125.18. Mr. Cooper Group shares last traded at $121.57, with a volume of 970,003 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Piper Sandler boosted their price objective on Mr. Cooper Group from $113.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. UBS Group raised their price target on shares of Mr. Cooper Group from $122.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Keefe, Bruyette & Woods boosted their price objective on shares of Mr. Cooper Group from $105.00 to $115.00 and gave the company a “market perform” rating in a research report on Thursday, February 13th. Barclays raised their target price on shares of Mr. Cooper Group from $111.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, JMP Securities restated a “market outperform” rating and set a $115.00 price objective on shares of Mr. Cooper Group in a report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $112.22.

Mr. Cooper Group Stock Up 14.6 %

The company has a market cap of $7.61 billion, a PE ratio of 11.82, a price-to-earnings-growth ratio of 0.32 and a beta of 1.49. The firm has a 50 day simple moving average of $106.03 and a 200-day simple moving average of $98.73.

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

Insider Activity at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $94.49, for a total transaction of $2,834,700.00. Following the transaction, the chief executive officer now owns 758,821 shares in the company, valued at $71,700,996.29. This represents a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of COOP. Picton Mahoney Asset Management grew its holdings in shares of Mr. Cooper Group by 41.3% during the fourth quarter. Picton Mahoney Asset Management now owns 325 shares of the company’s stock valued at $31,000 after buying an additional 95 shares during the last quarter. Williamson Legacy Group LLC grew its stake in Mr. Cooper Group by 1.1% during the 4th quarter. Williamson Legacy Group LLC now owns 10,835 shares of the company’s stock valued at $1,040,000 after purchasing an additional 118 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Mr. Cooper Group by 2.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 4,984 shares of the company’s stock valued at $479,000 after purchasing an additional 128 shares during the period. Dakota Wealth Management raised its stake in shares of Mr. Cooper Group by 0.7% in the fourth quarter. Dakota Wealth Management now owns 27,695 shares of the company’s stock worth $2,659,000 after purchasing an additional 181 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in Mr. Cooper Group by 5.6% in the 4th quarter. Quadrant Capital Group LLC now owns 3,468 shares of the company’s stock worth $333,000 after buying an additional 184 shares during the period. 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.