Mr. Cooper Group (NASDAQ:COOP) Hits New 1-Year High on Strong Earnings

Mr. Cooper Group Inc. (NASDAQ:COOP)’s stock price reached a new 52-week high during trading on Thursday following a stronger than expected earnings report. The company traded as high as $108.56 and last traded at $106.71, with a volume of 873322 shares. The stock had previously closed at $107.32.

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 13.77% and a net margin of 25.87%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on COOP shares. Keefe, Bruyette & Woods raised their price objective on shares of Mr. Cooper Group from $105.00 to $115.00 and gave the stock a “market perform” rating in a research note on Thursday. JMP Securities restated a “market outperform” rating and set a $115.00 price objective on shares of Mr. Cooper Group in a report on Thursday. Compass Point increased their price target on Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Citizens Jmp upgraded Mr. Cooper Group to a “strong-buy” rating in a report on Tuesday, January 14th. Finally, Barclays increased their target price on shares of Mr. Cooper Group from $111.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Mr. Cooper Group currently has an average rating of “Moderate Buy” and an average price target of $109.38.

Insider Activity at Mr. Cooper Group

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

Hedge Funds Weigh In On Mr. Cooper Group

Several institutional investors and hedge funds have recently bought and sold shares of COOP. Norges Bank acquired a new stake in shares of Mr. Cooper Group in the 4th quarter worth $72,984,000. Veridan Wealth LLC purchased a new stake in Mr. Cooper Group in the fourth quarter valued at about $56,244,000. Wellington Management Group LLP boosted its holdings in 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 worth $109,346,000 after acquiring an additional 343,243 shares in the last quarter. FMR LLC grew its stake in shares of Mr. Cooper Group by 42.9% during the third quarter. FMR LLC now owns 485,907 shares of the company’s stock worth $44,791,000 after acquiring an additional 145,767 shares during the last quarter. Finally, Basswood Capital Management L.L.C. increased its holdings in shares of Mr. Cooper Group by 36.6% during the third quarter. Basswood Capital Management L.L.C. now owns 496,243 shares of the company’s stock valued at $45,744,000 after acquiring an additional 132,970 shares in the last quarter. 89.82% of the stock is owned by hedge funds and other institutional investors.

Mr. Cooper Group Trading Down 0.7 %

The company’s 50-day moving average is $99.48 and its 200 day moving average is $94.99. The stock has a market capitalization of $6.90 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 0.31 and a beta of 1.43.

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.