Mr. Cooper Group (NASDAQ:COOP) Given New $120.00 Price Target at Piper Sandler

Mr. Cooper Group (NASDAQ:COOP) had its price objective lifted by Piper Sandler from $113.00 to $120.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other brokerages have also issued reports on COOP. Wedbush restated an “outperform” rating and set a $115.00 price target on shares of Mr. Cooper Group in a research note on Thursday, October 24th. JMP Securities initiated coverage on Mr. Cooper Group in a research note on Tuesday, January 14th. They issued an “outperform” rating and a $115.00 target price for the company. Barclays lifted their price target 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. Citizens Jmp raised Mr. Cooper Group to a “strong-buy” rating in a report on Tuesday, January 14th. Finally, Compass Point lifted their target price on Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Mr. Cooper Group presently has an average rating of “Moderate Buy” and an average target price of $104.13.

Mr. Cooper Group Price Performance

Shares of COOP stock opened at $102.64 on Wednesday. The stock’s fifty day moving average price is $96.77 and its 200 day moving average price is $92.82. Mr. Cooper Group has a 1-year low of $64.35 and a 1-year high of $105.00. The company has a market cap of $6.57 billion, a price-to-earnings ratio of 13.26, a price-to-earnings-growth ratio of 0.30 and a beta of 1.43.

Mr. Cooper Group (NASDAQ:COOP) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.30. The firm had revenue of $616.00 million for the quarter, compared to the consensus estimate of $548.09 million. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%. The company’s revenue for the quarter was up 32.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.79 earnings per share. As a group, equities research analysts anticipate that Mr. Cooper Group will post 10.18 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Jesse K. Bray sold 30,000 shares of the business’s 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 transaction, the chief executive officer now directly owns 758,821 shares in the company, valued at $71,700,996.29. The trade was a 3.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 90,000 shares of company stock valued at $8,414,400 over the last ninety days. Company insiders own 2.33% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of COOP. MassMutual Private Wealth & Trust FSB increased its stake in shares of Mr. Cooper Group by 9,175.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 4,916 shares of the company’s stock valued at $472,000 after purchasing an additional 4,863 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Mr. Cooper Group by 6.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 916,365 shares of the company’s stock valued at $84,471,000 after buying an additional 52,001 shares in the last quarter. Cynosure Group LLC purchased a new stake in shares of Mr. Cooper Group in the third quarter valued at approximately $730,000. World Investment Advisors LLC purchased a new position in shares of Mr. Cooper Group during the 3rd quarter valued at approximately $2,537,000. Finally, FMR LLC grew its stake in Mr. Cooper Group by 42.9% in the 3rd quarter. FMR LLC now owns 485,907 shares of the company’s stock valued at $44,791,000 after acquiring an additional 145,767 shares during the period. Institutional investors and hedge funds 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.