Mr. Cooper Group (NASDAQ:COOP) Sets New 12-Month High – Here’s Why

Mr. Cooper Group Inc. (NASDAQ:COOP) shares hit a new 52-week high on Monday . The stock traded as high as $105.77 and last traded at $105.82, with a volume of 44878 shares changing hands. The stock had previously closed at $104.12.

Wall Street Analyst Weigh In

COOP has been the subject of a number of research analyst reports. JMP Securities initiated coverage on shares of Mr. Cooper Group in a research report on Tuesday, January 14th. They issued an “outperform” rating and a $115.00 target price for the company. Wedbush reaffirmed an “outperform” rating and issued a $115.00 target price on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Piper Sandler lifted their target price on shares of Mr. Cooper Group from $113.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Compass Point lifted their target price on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Barclays lifted their target price on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Mr. Cooper Group presently has an average rating of “Moderate Buy” and an average target price of $104.13.

Mr. Cooper Group Trading Up 1.5 %

The business’s 50 day moving average is $97.05 and its two-hundred day moving average is $93.24. The company has a market cap of $6.76 billion, a PE ratio of 13.63, a PEG ratio of 0.30 and a beta of 1.43.

Insider Activity at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $97.58, for a total value of $2,927,400.00. Following the sale, the chief executive officer now owns 788,821 shares in the company, valued at $76,973,153.18. The trade was a 3.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 90,000 shares of company stock worth $8,414,400. 2.33% of the stock is owned by corporate insiders.

Institutional Trading of Mr. Cooper Group

Hedge funds have recently bought and sold shares of the stock. Quarry LP purchased a new stake in shares of Mr. Cooper Group during the 2nd quarter valued at about $29,000. Financial Management Professionals Inc. purchased a new stake in shares of Mr. Cooper Group during the 3rd quarter valued at about $30,000. Harvest Fund Management Co. Ltd raised its position in shares of Mr. Cooper Group by 152.5% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock valued at $41,000 after buying an additional 270 shares in the last quarter. ORG Partners LLC purchased a new stake in shares of Mr. Cooper Group during the 4th quarter valued at about $51,000. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of Mr. Cooper Group during the 3rd quarter valued at about $52,000. Hedge funds and other institutional investors own 89.82% of the company’s stock.

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.