Mr. Cooper Group (NASDAQ:COOP) Shares Up 7.8% – Time to Buy?

Mr. Cooper Group Inc. (NASDAQ:COOP) shares were up 7.8% during mid-day trading on Wednesday . The company traded as high as $134.94 and last traded at $134.90. Approximately 265,922 shares were traded during trading, a decline of 48% from the average daily volume of 508,225 shares. The stock had previously closed at $125.08.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on COOP shares. JMP Securities restated a “market outperform” rating and issued a $115.00 target price on shares of Mr. Cooper Group in a research note on Thursday, February 13th. UBS Group raised their price objective on shares of Mr. Cooper Group from $122.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Barclays upped their target price on shares of Mr. Cooper Group from $111.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Citizens Jmp upgraded shares of Mr. Cooper Group to a “strong-buy” rating in a research note on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods upped their price objective on Mr. Cooper Group from $105.00 to $115.00 and gave the company a “market perform” rating in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Mr. Cooper Group has a consensus rating of “Moderate Buy” and an average price target of $112.22.

Mr. Cooper Group Trading Up 7.9 %

The firm has a market capitalization of $8.59 billion, a price-to-earnings ratio of 13.14, a P/E/G ratio of 0.32 and a beta of 1.49. The firm has a fifty day moving average price of $106.80 and a 200 day moving average price of $99.15.

Mr. Cooper Group (NASDAQ:COOP) last posted its quarterly earnings data 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%. As a group, equities analysts predict that Mr. Cooper Group Inc. will post 13.17 EPS for the current fiscal year.

Insider Buying and Selling at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $112.24, for a total transaction of $3,367,200.00. Following the sale, the chief executive officer now directly owns 698,821 shares of the company’s stock, valued at $78,435,669.04. This represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.33% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Penbrook Management LLC increased its stake in shares of Mr. Cooper Group by 0.6% in the 1st quarter. Penbrook Management LLC now owns 15,825 shares of the company’s stock valued at $1,893,000 after buying an additional 100 shares during the period. Copia Wealth Management acquired a new stake in Mr. Cooper Group in the fourth quarter worth about $292,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Mr. Cooper Group during the 4th quarter worth about $5,409,000. Jefferies Financial Group Inc. acquired a new position in Mr. Cooper Group during the 4th quarter valued at about $394,000. Finally, Integrated Advisors Network LLC bought a new position in shares of Mr. Cooper Group in the 4th quarter valued at about $322,000. 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.