Piper Sandler Forecasts Strong Price Appreciation for Mr. Cooper Group (NASDAQ:COOP) Stock

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

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

Mr. Cooper Group Price Performance

NASDAQ COOP opened at $104.12 on Wednesday. Mr. Cooper Group has a fifty-two week low of $64.52 and a fifty-two week high of $105.00. The stock’s 50-day moving average is $97.05 and its two-hundred day moving average is $93.06. The firm has a market cap of $6.66 billion, a P/E ratio of 13.45, a price-to-earnings-growth ratio of 0.30 and a beta of 1.43.

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

Insider Buying and Selling

In related news, CEO Jesse K. Bray sold 30,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was 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 of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 90,000 shares of company stock valued at $8,414,400 over the last three months. 2.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mr. Cooper Group

A number of hedge funds have recently made changes to their positions in the business. Envestnet Asset Management Inc. increased its stake in Mr. Cooper Group by 5.0% in the second quarter. Envestnet Asset Management Inc. now owns 22,251 shares of the company’s stock valued at $1,807,000 after acquiring an additional 1,067 shares during the period. Renaissance Technologies LLC boosted its holdings in Mr. Cooper Group by 27.5% during the second quarter. Renaissance Technologies LLC now owns 69,599 shares of the company’s stock valued at $5,654,000 after purchasing an additional 15,000 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of Mr. Cooper Group by 4.6% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 8,210 shares of the company’s stock valued at $667,000 after purchasing an additional 362 shares during the period. Sei Investments Co. raised its holdings in shares of Mr. Cooper Group by 63.7% in the 2nd quarter. Sei Investments Co. now owns 59,152 shares of the company’s stock worth $4,805,000 after buying an additional 23,013 shares in the last quarter. Finally, Evergreen Capital Management LLC lifted its position in shares of Mr. Cooper Group by 4.2% during the 2nd quarter. Evergreen Capital Management LLC now owns 5,236 shares of the company’s stock worth $425,000 after buying an additional 211 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.