Mr. Cooper Group (NASDAQ:COOP) Upgraded at Citizens Jmp

Mr. Cooper Group (NASDAQ:COOP) was upgraded by Citizens Jmp to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. Barclays lifted their target price 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. Wedbush reaffirmed an “outperform” rating and set a $115.00 price objective on shares of Mr. Cooper Group in a report on Thursday, October 24th. JMP Securities started coverage on Mr. Cooper Group in a research note on Tuesday. They issued an “outperform” rating and a $115.00 target price on the stock. Finally, Compass Point raised their price target on Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $102.38.

Mr. Cooper Group Stock Performance

Mr. Cooper Group stock opened at $96.54 on Tuesday. The stock has a market cap of $6.18 billion, a P/E ratio of 12.47 and a beta of 1.43. Mr. Cooper Group has a fifty-two week low of $61.38 and a fifty-two week high of $103.05. The firm’s fifty day moving average price is $96.33 and its 200-day moving average price is $91.88.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share 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 return on equity of 13.77% and a net margin of 25.87%. The company’s revenue was up 32.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.79 EPS. Sell-side analysts predict that Mr. Cooper Group will post 10.16 earnings per share for the current year.

Insider Activity

In related news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $97.58, for a total transaction of $2,927,400.00. Following the completion of the sale, the chief executive officer now directly owns 788,821 shares in the company, valued at $76,973,153.18. This represents a 3.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders have sold 90,000 shares of company stock valued at $8,414,400. 2.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mr. Cooper Group

Large investors have recently bought and sold shares of the stock. Quarry LP purchased a new stake in shares of Mr. Cooper Group during the second quarter valued at approximately $29,000. Financial Management Professionals Inc. bought a new stake in Mr. Cooper Group during the 3rd quarter valued at $30,000. Harvest Fund Management Co. Ltd boosted its position in Mr. Cooper Group by 152.5% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock valued at $41,000 after buying an additional 270 shares during the period. ORG Partners LLC bought a new stake in Mr. Cooper Group in the 4th quarter worth $51,000. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of Mr. Cooper Group in the third quarter valued at about $52,000. 89.82% of the stock is owned by hedge funds and other institutional investors.

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.