Mr. Cooper Group (NASDAQ:COOP) Hits New 12-Month High – What’s Next?

Mr. Cooper Group Inc. (NASDAQ:COOP) 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 traded. The stock had previously closed at $104.12.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Barclays lifted their target price on Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Citizens Jmp upgraded shares of Mr. Cooper Group to a “strong-buy” rating in a research report on Tuesday, January 14th. Compass Point increased their target price on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Wedbush restated an “outperform” rating and issued a $115.00 price target on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Finally, JMP Securities started coverage on Mr. Cooper Group in a research report on Tuesday, January 14th. They set an “outperform” rating and a $115.00 price objective for the company. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.13.

Mr. Cooper Group Price Performance

The company has a market cap of $6.77 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 0.30 and a beta of 1.43. The stock has a fifty day moving average price of $97.41 and a 200-day moving average price of $93.55.

Insider Buying and Selling at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $97.58, for a total transaction of $2,927,400.00. Following the completion of the sale, the chief executive officer now directly owns 788,821 shares of the company’s stock, valued at $76,973,153.18. This trade represents a 3.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 90,000 shares of company stock valued at $8,414,400 in the last 90 days. 2.33% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mr. Cooper Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Financial Management Professionals Inc. acquired a new position in shares of Mr. Cooper Group during the 3rd quarter valued at about $30,000. Quarry LP bought a new stake in Mr. Cooper Group during the second quarter worth approximately $29,000. Harvest Fund Management Co. Ltd grew its holdings in Mr. Cooper Group by 152.5% during the third quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock valued at $41,000 after purchasing an additional 270 shares during the last quarter. ORG Partners LLC bought a new position in shares of Mr. Cooper Group in the fourth quarter valued at approximately $51,000. Finally, Harbor Capital Advisors Inc. acquired a new stake in shares of Mr. Cooper Group in the third quarter worth $52,000. 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.