Mr. Cooper Group (NASDAQ:COOP) Now Covered by Analysts at JMP Securities

Equities researchers at JMP Securities initiated coverage on shares of Mr. Cooper Group (NASDAQ:COOP) in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. The brokerage set an “outperform” rating and a $115.00 price target on the stock. JMP Securities’ price target indicates a potential upside of 24.66% from the company’s previous close.

Several other research firms have also issued reports on COOP. Compass Point lifted their price target on Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Wedbush reaffirmed an “outperform” rating and issued a $115.00 target price on shares of Mr. Cooper Group in a 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 report on Tuesday, October 8th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Mr. Cooper Group presently has an average rating of “Moderate Buy” and a consensus target price of $102.38.

Mr. Cooper Group Price Performance

NASDAQ:COOP opened at $92.25 on Tuesday. The firm has a market capitalization of $5.90 billion, a P/E ratio of 11.92 and a beta of 1.43. Mr. Cooper Group has a one year low of $61.38 and a one year high of $103.05. The company’s 50-day simple moving average is $96.33 and its 200 day simple moving average is $91.88.

Mr. Cooper Group (NASDAQ:COOP) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.30. The firm had revenue of $616.00 million for the quarter, compared to analysts’ expectations of $548.09 million. Mr. Cooper Group had a return on equity of 13.77% and a net margin of 25.87%. The business’s revenue for the quarter 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. On average, equities research analysts expect that Mr. Cooper Group will post 10.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $88.41, for a total value of $2,652,300.00. Following the transaction, the chief executive officer now owns 818,821 shares of the company’s stock, valued at approximately $72,391,964.61. This represents a 3.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have sold 90,000 shares of company stock worth $8,414,400. 2.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Mr. Cooper Group

Several hedge funds and other institutional investors have recently made changes to their positions in COOP. Aristeia Capital L.L.C. grew its position in Mr. Cooper Group by 4.2% during the second quarter. Aristeia Capital L.L.C. now owns 4,197 shares of the company’s stock valued at $341,000 after buying an additional 169 shares during the period. Truist Financial Corp grew its position in shares of Mr. Cooper Group by 1.6% during the 2nd quarter. Truist Financial Corp now owns 11,840 shares of the company’s stock valued at $962,000 after acquiring an additional 187 shares during the period. Evergreen Capital Management LLC increased its stake in shares of Mr. Cooper Group by 4.2% in the 2nd quarter. Evergreen Capital Management LLC now owns 5,236 shares of the company’s stock worth $425,000 after purchasing an additional 211 shares in the last quarter. First Trust Direct Indexing L.P. raised its holdings in Mr. Cooper Group by 7.6% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 3,021 shares of the company’s stock worth $278,000 after purchasing an additional 213 shares during the period. Finally, Blue Trust Inc. raised its holdings in Mr. Cooper Group by 71.8% in the 3rd quarter. Blue Trust Inc. now owns 572 shares of the company’s stock worth $53,000 after purchasing an additional 239 shares during the period. Hedge funds and other 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.