Mr. Cooper Group (NASDAQ:COOP) Hits New 52-Week High – Time to Buy?

Shares of Mr. Cooper Group Inc. (NASDAQ:COOP) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $112.54 and last traded at $112.55, with a volume of 174998 shares trading hands. The stock had previously closed at $110.79.

Wall Street Analysts Forecast Growth

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

Mr. Cooper Group Stock Performance

The business has a fifty day simple moving average of $101.59 and a 200 day simple moving average of $96.36. The company has a market cap of $7.09 billion, a P/E ratio of 10.95, a P/E/G ratio of 0.32 and a beta of 1.43.

Mr. Cooper Group (NASDAQ:COOP) last released 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 return on equity of 14.76% and a net margin of 30.07%. Equities research analysts expect that Mr. Cooper Group Inc. will post 13.17 EPS for the current year.

Insider Buying and Selling

In related news, CEO Jesse K. Bray sold 30,000 shares of the firm’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 value of $2,834,700.00. Following the sale, the chief executive officer now owns 758,821 shares of the company’s stock, valued at approximately $71,700,996.29. This trade represents a 3.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.33% of the company’s stock.

Institutional Trading of Mr. Cooper Group

Several hedge funds have recently made changes to their positions in COOP. MassMutual Private Wealth & Trust FSB increased its position in Mr. Cooper Group by 9,175.5% in the 4th 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 period. Charles Schwab Investment Management Inc. increased its position in Mr. Cooper Group by 6.0% in the 3rd 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 period. Cynosure Group LLC acquired a new stake in Mr. Cooper Group in the 3rd quarter valued at approximately $730,000. World Investment Advisors LLC acquired a new stake in Mr. Cooper Group in the 3rd quarter valued at approximately $2,537,000. Finally, Spire Wealth Management acquired a new stake in Mr. Cooper Group in the 4th quarter valued at approximately $1,480,000. 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.