Mr. Cooper Group (NASDAQ:COOP) Shares Down 4.1% – What’s Next?

Mr. Cooper Group Inc. (NASDAQ:COOP)’s share price dropped 4.1% during mid-day trading on Wednesday . The stock traded as low as $86.88 and last traded at $87.36. Approximately 128,444 shares changed hands during trading, a decline of 71% from the average daily volume of 436,108 shares. The stock had previously closed at $91.06.

Analyst Upgrades and Downgrades

COOP has been the topic of a number of recent research reports. Wedbush reiterated an “outperform” rating and set a $115.00 target price on shares of Mr. Cooper Group in a report on Thursday. Barclays lifted their price objective on Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Piper Sandler raised their price target on shares of Mr. Cooper Group from $91.00 to $106.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Compass Point boosted their price objective on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Keefe, Bruyette & Woods lowered shares of Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 target price on the stock. in a research report on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Mr. Cooper Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $98.00.

Mr. Cooper Group Price Performance

The company has a fifty day moving average of $92.01 and a two-hundred day moving average of $85.89. The stock has a market capitalization of $5.75 billion, a P/E ratio of 9.31 and a beta of 1.40.

Mr. Cooper Group (NASDAQ:COOP) last released its earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.30. Mr. Cooper Group had a net margin of 33.22% and a return on equity of 14.10%. The firm had revenue of $616.00 million during the quarter, compared to analyst estimates of $548.09 million. During the same quarter in the previous year, the firm earned $2.79 earnings per share. The firm’s revenue for the quarter was up 32.8% compared to the same quarter last year. As a group, equities research analysts predict that Mr. Cooper Group Inc. will post 9.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. bought a new stake in Mr. Cooper Group in the third quarter valued at $30,000. Blue Trust Inc. boosted its stake in Mr. Cooper Group by 77.1% during the 2nd quarter. Blue Trust Inc. now owns 333 shares of the company’s stock valued at $26,000 after purchasing an additional 145 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Mr. Cooper Group by 8,275.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company’s stock valued at $27,000 after purchasing an additional 331 shares during the period. Quarry LP bought a new stake in shares of Mr. Cooper Group during the second quarter valued at approximately $29,000. Finally, CWM LLC raised its holdings in shares of Mr. Cooper Group by 34.5% during the second quarter. CWM LLC now owns 601 shares of the company’s stock valued at $49,000 after buying an additional 154 shares during the last quarter. Institutional investors and hedge funds 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.