Brokerages Set Mr. Cooper Group Inc. (NASDAQ:COOP) Target Price at $91.88

Shares of Mr. Cooper Group Inc. (NASDAQ:COOP) have received an average rating of “Moderate Buy” from the eight research firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $91.88.

Several equities analysts have weighed in on COOP shares. Keefe, Bruyette & Woods lowered Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 target price on the stock. in a research note on Monday, July 22nd. Piper Sandler lifted their price objective on shares of Mr. Cooper Group from $91.00 to $106.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Barclays boosted their price objective on shares of Mr. Cooper Group from $94.00 to $103.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, Wedbush increased their target price on shares of Mr. Cooper Group from $100.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, July 26th.

Mr. Cooper Group Price Performance

COOP opened at $93.63 on Monday. The firm has a 50 day simple moving average of $89.25 and a 200 day simple moving average of $82.69. Mr. Cooper Group has a fifty-two week low of $52.46 and a fifty-two week high of $96.00. The company has a market cap of $6.06 billion, a price-to-earnings ratio of 9.79 and a beta of 1.41.

Mr. Cooper Group (NASDAQ:COOP) last issued its earnings results on Thursday, July 25th. The company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.33 by $0.19. Mr. Cooper Group had a net margin of 33.22% and a return on equity of 14.10%. The company had revenue of $583.00 million during the quarter, compared to analysts’ expectations of $552.09 million. During the same quarter in the previous year, the company posted $1.66 EPS. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, analysts expect that Mr. Cooper Group will post 9.86 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Jesse K. Bray sold 25,000 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $80.93, for a total transaction of $2,023,250.00. Following the sale, the chief executive officer now directly owns 259,631 shares in the company, valued at $21,011,936.83. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.33% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Mr. Cooper Group by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 7,668,898 shares of the company’s stock valued at $597,791,000 after buying an additional 42,860 shares during the last quarter. Wellington Management Group LLP raised its holdings in Mr. Cooper Group by 1.5% during the fourth quarter. Wellington Management Group LLP now owns 1,714,900 shares of the company’s stock worth $111,674,000 after acquiring an additional 25,351 shares in the last quarter. Norges Bank bought a new stake in Mr. Cooper Group during the fourth quarter worth about $47,104,000. Goldman Sachs Group Inc. boosted its position in Mr. Cooper Group by 198.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 663,530 shares of the company’s stock valued at $43,209,000 after purchasing an additional 441,282 shares during the last quarter. Finally, LSV Asset Management grew its stake in Mr. Cooper Group by 249.2% in the second quarter. LSV Asset Management now owns 633,260 shares of the company’s stock valued at $51,440,000 after purchasing an additional 451,926 shares in the last quarter. Institutional investors and hedge funds own 89.82% of the company’s stock.

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.