Mr. Cooper Group (NASDAQ:COOP) Sets New 12-Month High – Here’s Why

Shares of Mr. Cooper Group Inc. (NASDAQ:COOP) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $105.77 and last traded at $105.82, with a volume of 44878 shares traded. The stock had previously closed at $104.12.

Analyst Ratings Changes

COOP has been the topic of a number of recent analyst reports. Citizens Jmp upgraded Mr. Cooper Group to a “strong-buy” rating in a research report on Tuesday, January 14th. Compass Point increased their price objective 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. Wedbush reissued an “outperform” rating and issued a $115.00 target price on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Barclays increased their target price on Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Finally, Piper Sandler increased their target price on Mr. Cooper Group from $113.00 to $120.00 and gave the company an “overweight” rating in a research note on Wednesday, January 22nd. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Mr. Cooper Group presently has an average rating of “Moderate Buy” and a consensus price target of $104.13.

Mr. Cooper Group Stock Up 1.5 %

The company’s fifty day simple moving average is $97.05 and its 200 day simple moving average is $93.24. The firm has a market capitalization of $6.76 billion, a PE ratio of 13.63, a price-to-earnings-growth ratio of 0.30 and a beta of 1.43.

Insiders Place Their Bets

In other news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $97.58, for a total transaction of $2,927,400.00. Following the completion of the transaction, the chief executive officer now directly owns 788,821 shares in the company, valued at approximately $76,973,153.18. This trade represents a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 90,000 shares of company stock worth $8,414,400 over the last three months. Company insiders own 2.33% of the company’s stock.

Hedge Funds Weigh In On Mr. Cooper Group

Several large investors have recently made changes to their positions in the business. State Street Corp lifted its holdings in shares of Mr. Cooper Group by 1.9% during the third quarter. State Street Corp now owns 2,726,946 shares of the company’s stock valued at $251,370,000 after purchasing an additional 51,667 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Mr. Cooper Group by 11.1% during the third quarter. Assenagon Asset Management S.A. now owns 1,247,434 shares of the company’s stock valued at $114,988,000 after purchasing an additional 125,055 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Mr. Cooper Group by 6.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 916,365 shares of the company’s stock valued at $84,471,000 after purchasing an additional 52,001 shares during the last quarter. Basswood Capital Management L.L.C. lifted 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 purchasing an additional 132,970 shares during the last quarter. Finally, FMR LLC lifted its holdings 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 valued at $44,791,000 after purchasing an additional 145,767 shares during the last quarter. 89.82% of the stock is currently 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.