Mr. Cooper Group (NASDAQ:COOP) Reaches New 12-Month High – Should You Buy?

Mr. Cooper Group Inc. (NASDAQ:COOP) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $110.69 and last traded at $110.03, with a volume of 27913 shares changing hands. The stock had previously closed at $109.15.

Wall Street Analyst Weigh In

COOP has been the subject of a number of recent research reports. Barclays increased their price objective on Mr. Cooper Group from $111.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Piper Sandler increased 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. Wedbush reissued an “outperform” rating and issued a $115.00 price target on shares of Mr. Cooper Group in a research note on Thursday, October 24th. UBS Group raised their target price on Mr. Cooper Group from $122.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Compass Point upped their price objective on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.22.

Mr. Cooper Group Trading Down 0.0 %

The company has a 50 day simple moving average of $100.51 and a 200 day simple moving average of $95.55. The stock has a market cap of $6.98 billion, a P/E ratio of 10.74, a PEG ratio of 0.32 and a beta of 1.43.

Mr. Cooper Group (NASDAQ:COOP) last announced its earnings results on Wednesday, February 12th. The company reported $2.73 EPS for the quarter, topping the consensus estimate of $2.65 by $0.08. Mr. Cooper Group had a net margin of 30.07% and a return on equity of 14.76%. As a group, sell-side analysts expect that Mr. Cooper Group Inc. will post 13.17 earnings per share for the current year.

Insider Activity at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $94.49, for a total value of $2,834,700.00. Following the completion of the sale, the chief executive officer now owns 758,821 shares in the company, valued at $71,700,996.29. This trade represents a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.33% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mr. Cooper Group

Institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank bought a new stake in Mr. Cooper Group in the fourth quarter valued at approximately $72,984,000. 140 Summer Partners LP acquired a new stake in Mr. Cooper Group during the 4th quarter valued at $69,959,000. Veridan Wealth LLC bought a new position in Mr. Cooper Group during the fourth quarter worth $56,244,000. Wellington Management Group LLP increased its holdings in shares of Mr. Cooper Group by 43.1% in the fourth quarter. Wellington Management Group LLP now owns 1,138,904 shares of the company’s stock valued at $109,346,000 after purchasing an additional 343,243 shares during the last quarter. Finally, Cercano Management LLC raised its position in shares of Mr. Cooper Group by 66.5% in the fourth quarter. Cercano Management LLC now owns 790,753 shares of the company’s stock valued at $75,920,000 after purchasing an additional 315,801 shares during the period. 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.