Mr. Cooper Group (NASDAQ:COOP) Receives “Market Outperform” Rating from JMP Securities

Mr. Cooper Group (NASDAQ:COOP)‘s stock had its “market outperform” rating restated by equities researchers at JMP Securities in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $115.00 target price on the stock. JMP Securities’ price target would suggest a potential upside of 6.62% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Compass Point lifted their price target on Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Citizens Jmp upgraded Mr. Cooper Group to a “strong-buy” rating in a report on Tuesday, January 14th. Wedbush reiterated an “outperform” rating and issued a $115.00 price objective on shares of Mr. Cooper Group in a report on Thursday, October 24th. Barclays lifted their price objective on Mr. Cooper Group from $111.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Piper Sandler lifted their price objective on Mr. Cooper Group from $113.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Mr. Cooper Group currently has a consensus rating of “Moderate Buy” and an average price target of $109.38.

Mr. Cooper Group Stock Performance

NASDAQ COOP opened at $107.86 on Thursday. The stock has a 50-day simple moving average of $99.48 and a two-hundred day simple moving average of $94.99. The firm has a market capitalization of $6.90 billion, a P/E ratio of 13.94, a PEG ratio of 0.31 and a beta of 1.43. Mr. Cooper Group has a fifty-two week low of $70.01 and a fifty-two week high of $109.72.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly 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 return on equity of 13.77% and a net margin of 25.87%. As a group, analysts forecast that Mr. Cooper Group will post 10.18 earnings per share for the current year.

Insider Transactions at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 directly owns 758,821 shares in the company, valued at $71,700,996.29. The trade was a 3.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.33% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB lifted its holdings in Mr. Cooper Group by 9,175.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 4,916 shares of the company’s stock valued at $472,000 after acquiring an additional 4,863 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Mr. Cooper Group by 6.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 916,365 shares of the company’s stock valued at $84,471,000 after acquiring an additional 52,001 shares during the last quarter. Cynosure Group LLC acquired a new position in Mr. Cooper Group in the third quarter valued at approximately $730,000. World Investment Advisors LLC acquired a new position in Mr. Cooper Group in the third quarter valued at approximately $2,537,000. Finally, FMR LLC lifted its holdings in Mr. Cooper Group by 42.9% in the third quarter. FMR LLC now owns 485,907 shares of the company’s stock valued at $44,791,000 after acquiring an additional 145,767 shares during the last quarter. 89.82% of the stock is currently owned by institutional investors and hedge funds.

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.