Mr. Cooper Group (NASDAQ:COOP) Hits New 1-Year High – Here’s Why

Mr. Cooper Group Inc. (NASDAQ:COOP) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $125.86 and last traded at $119.60, with a volume of 6437896 shares changing hands. The stock had previously closed at $104.49.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Citizens Jmp upgraded Mr. Cooper Group to a “strong-buy” rating in a research report on Tuesday, January 14th. JMP Securities reiterated a “market outperform” rating and issued a $115.00 target price on shares of Mr. Cooper Group in a report on Thursday, February 13th. Barclays boosted their target price on Mr. Cooper Group from $111.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Keefe, Bruyette & Woods lifted their price objective on shares of Mr. Cooper Group from $105.00 to $115.00 and gave the stock a “market perform” rating in a research note on Thursday, February 13th. Finally, UBS Group increased their target price on shares of Mr. Cooper Group from $122.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Mr. Cooper Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.22.

Mr. Cooper Group Price Performance

The stock has a market capitalization of $8.49 billion, a P/E ratio of 13.12, a PEG ratio of 0.32 and a beta of 1.49. The stock’s fifty day moving average price is $107.42 and its 200 day moving average price is $99.39.

Mr. Cooper Group (NASDAQ:COOP) last issued its earnings results on Wednesday, February 12th. The company reported $2.73 EPS for the quarter, topping analysts’ consensus estimates of $2.65 by $0.08. Mr. Cooper Group had a net margin of 30.07% and a return on equity of 14.76%. On average, sell-side analysts expect that Mr. Cooper Group Inc. will post 13.17 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $112.24, for a total transaction of $3,367,200.00. Following the transaction, the chief executive officer now owns 698,821 shares of the company’s stock, valued at approximately $78,435,669.04. This represents a 4.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.33% of the stock is currently owned by company insiders.

Institutional Trading of Mr. Cooper Group

Hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Mr. Cooper Group in the 4th quarter valued at about $72,984,000. 140 Summer Partners LP purchased a new position in Mr. Cooper Group during the fourth quarter valued at approximately $69,959,000. Veridan Wealth LLC purchased a new stake in Mr. Cooper Group during the fourth quarter worth $56,244,000. Wellington Management Group LLP lifted its holdings in Mr. Cooper Group by 43.1% during the fourth quarter. Wellington Management Group LLP now owns 1,138,904 shares of the company’s stock worth $109,346,000 after buying an additional 343,243 shares during the period. Finally, Cercano Management LLC boosted its position in Mr. Cooper Group by 66.5% during the 4th quarter. Cercano Management LLC now owns 790,753 shares of the company’s stock valued at $75,920,000 after acquiring an additional 315,801 shares in the last quarter. 89.82% of the stock is owned by hedge funds and other institutional investors.

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.