Mr. Cooper Group (NASDAQ:COOP) Lowered to “Hold” Rating by Citizens Jmp

Mr. Cooper Group (NASDAQ:COOP) was downgraded by equities researchers at Citizens Jmp from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

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

Mr. Cooper Group Trading Up 6.8 %

NASDAQ:COOP opened at $133.56 on Tuesday. The firm has a market capitalization of $8.49 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 0.32 and a beta of 1.49. Mr. Cooper Group has a 52 week low of $74.49 and a 52 week high of $137.60. The stock has a 50 day moving average of $107.42 and a 200-day moving average of $99.39.

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

Insiders Place Their Bets

In related news, CEO Jesse K. Bray sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $112.24, for a total value of $3,367,200.00. Following the completion of the transaction, the chief executive officer now owns 698,821 shares of the company’s stock, valued at approximately $78,435,669.04. This trade represents a 4.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.33% of the company’s stock.

Institutional Trading of Mr. Cooper Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Norges Bank acquired a new position in shares of Mr. Cooper Group in the 4th quarter valued at about $72,984,000. 140 Summer Partners LP purchased a new stake in Mr. Cooper Group in the 4th quarter worth approximately $69,959,000. Veridan Wealth LLC purchased a new stake in Mr. Cooper Group in the 4th quarter worth approximately $56,244,000. Wellington Management Group LLP boosted its stake in shares of Mr. Cooper Group by 43.1% during the 4th quarter. Wellington Management Group LLP now owns 1,138,904 shares of the company’s stock valued at $109,346,000 after buying an additional 343,243 shares during the period. Finally, Cercano Management LLC grew its holdings in shares of 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. 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.