Mr. Cooper Group (NASDAQ:COOP) Price Target Raised to $103.00

Mr. Cooper Group (NASDAQ:COOP) had its price target hoisted by Barclays from $94.00 to $103.00 in a report released on Friday morning, Benzinga reports. Barclays currently has an overweight rating on the stock.

COOP has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Mr. Cooper Group from $88.00 to $90.00 and gave the stock a buy rating in a report on Thursday, April 25th. Wedbush raised their price target on shares of Mr. Cooper Group from $100.00 to $115.00 and gave the company an outperform rating in a report on Friday. Piper Sandler raised their price target on shares of Mr. Cooper Group from $91.00 to $106.00 and gave the company an overweight rating in a report on Friday. Jefferies Financial Group raised their price target on shares of Mr. Cooper Group from $74.00 to $80.00 and gave the company a hold rating in a report on Friday, April 19th. Finally, Keefe, Bruyette & Woods lowered shares of Mr. Cooper Group from an outperform rating to a market perform rating and set a $95.00 price target for the company. in a report on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Mr. Cooper Group has an average rating of Moderate Buy and an average target price of $91.88.

Mr. Cooper Group Trading Up 2.2 %

NASDAQ COOP opened at $94.54 on Friday. The firm has a market cap of $6.12 billion, a price-to-earnings ratio of 9.90 and a beta of 1.39. The company has a 50 day moving average of $83.36 and a 200-day moving average of $77.14. Mr. Cooper Group has a 1-year low of $52.46 and a 1-year high of $95.74.

Mr. Cooper Group (NASDAQ:COOP) last posted its quarterly earnings data on Thursday, July 25th. The company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.19. The company had revenue of $583.00 million during the quarter, compared to analyst estimates of $552.09 million. Mr. Cooper Group had a net margin of 33.22% and a return on equity of 14.10%. The company’s revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business posted $1.66 earnings per share. On average, analysts forecast that Mr. Cooper Group will post 9.36 earnings per share for the current year.

Insiders Place Their Bets

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 25,000 shares of Mr. Cooper Group stock in a transaction on Friday, June 28th. The shares were sold at an average price of $80.93, for a total transaction of $2,023,250.00. Following the completion of the sale, the chief executive officer now owns 259,631 shares of the company’s stock, valued at approximately $21,011,936.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Michael R. Rawls sold 27,000 shares of Mr. Cooper Group stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $82.18, for a total transaction of $2,218,860.00. Following the transaction, the chief executive officer now directly owns 57,623 shares of the company’s stock, valued at $4,735,458.14. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jesse K. Bray sold 25,000 shares of Mr. Cooper Group stock in a transaction on Friday, June 28th. The stock was sold at an average price of $80.93, for a total transaction of $2,023,250.00. Following the transaction, the chief executive officer now directly owns 259,631 shares in the company, valued at $21,011,936.83. The disclosure for this sale can be found here. In the last 90 days, insiders sold 77,000 shares of company stock valued at $6,277,610. Company insiders own 2.33% of the company’s stock.

Hedge Funds Weigh In On Mr. Cooper Group

A number of hedge funds and other institutional investors have recently made changes to their positions in COOP. Norges Bank bought a new position in shares of Mr. Cooper Group during the fourth quarter worth $47,104,000. Goldman Sachs Group Inc. boosted its position in shares of Mr. Cooper Group by 198.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 663,530 shares of the company’s stock worth $43,209,000 after purchasing an additional 441,282 shares in the last quarter. Vanguard Group Inc. lifted its position in Mr. Cooper Group by 5.4% in the 4th quarter. Vanguard Group Inc. now owns 7,626,038 shares of the company’s stock valued at $496,608,000 after acquiring an additional 391,780 shares in the last quarter. Cercano Management LLC bought a new stake in Mr. Cooper Group in the 4th quarter valued at $23,527,000. Finally, Price T Rowe Associates Inc. MD lifted its position in Mr. Cooper Group by 984.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 390,957 shares of the company’s stock valued at $30,476,000 after acquiring an additional 354,905 shares in the last quarter. 89.82% of the stock is owned by institutional investors.

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.