Analysts Set Mr. Cooper Group Inc. (NASDAQ:COOP) Target Price at $98.00

Shares of Mr. Cooper Group Inc. (NASDAQ:COOP) have been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $98.00.

Several brokerages recently commented on COOP. Barclays upped their price target on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Compass Point upped their price target on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, Wedbush reiterated an “outperform” rating and set a $115.00 price target on shares of Mr. Cooper Group in a report on Thursday, October 24th.

Insiders Place Their Bets

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $88.41, for a total value of $2,652,300.00. Following the transaction, the chief executive officer now directly owns 818,821 shares in the company, valued at $72,391,964.61. This represents a 3.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.33% of the company’s stock.

Hedge Funds Weigh In On Mr. Cooper Group

A number of hedge funds have recently added to or reduced their stakes in COOP. Price T Rowe Associates Inc. MD boosted its stake in shares of Mr. Cooper Group by 984.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 390,957 shares of the company’s stock valued at $30,476,000 after purchasing an additional 354,905 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of Mr. Cooper Group by 13.7% during the first quarter. Public Employees Retirement System of Ohio now owns 24,504 shares of the company’s stock valued at $1,910,000 after purchasing an additional 2,953 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in shares of Mr. Cooper Group by 2.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 10,521 shares of the company’s stock valued at $820,000 after purchasing an additional 203 shares in the last quarter. Boston Partners bought a new position in shares of Mr. Cooper Group during the first quarter valued at approximately $1,336,000. Finally, GAMMA Investing LLC boosted its stake in shares of Mr. Cooper Group by 38.8% during the second quarter. GAMMA Investing LLC now owns 1,506 shares of the company’s stock valued at $122,000 after purchasing an additional 421 shares in the last quarter. 89.82% of the stock is currently owned by institutional investors.

Mr. Cooper Group Trading Down 0.3 %

Shares of NASDAQ COOP opened at $96.42 on Friday. The firm’s 50-day moving average price is $94.53 and its 200-day moving average price is $89.26. The stock has a market capitalization of $6.17 billion, a price-to-earnings ratio of 12.46 and a beta of 1.41. Mr. Cooper Group has a 12-month low of $61.38 and a 12-month high of $103.05.

Mr. Cooper Group (NASDAQ:COOP) last announced its earnings results 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 analysts’ expectations of $548.09 million. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%. The business’s revenue was up 32.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.79 EPS. On average, equities analysts predict that Mr. Cooper Group will post 10.16 EPS for the current fiscal year.

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.