JMP Securities Reiterates “Market Outperform” Rating for Mr. Cooper Group (NASDAQ:COOP)

Mr. Cooper Group (NASDAQ:COOP)‘s stock had its “market outperform” rating reaffirmed by investment analysts at JMP Securities in a research note issued to investors on Thursday,Benzinga reports. They presently have a $115.00 price target on the stock. JMP Securities’ price objective would suggest a potential upside of 6.62% from the stock’s current price.

Several other analysts have also recently issued reports on COOP. 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 report on Wednesday, January 22nd. Citizens Jmp raised Mr. Cooper Group to a “strong-buy” rating in a research report on Tuesday, January 14th. Wedbush reaffirmed an “outperform” rating and set a $115.00 target price on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Barclays increased their target price on Mr. Cooper Group from $111.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Compass Point increased their target price 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 investment 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $109.38.

Mr. Cooper Group Stock Down 0.7 %

COOP opened at $107.86 on Thursday. The stock’s fifty day moving average is $99.48 and its two-hundred day moving average is $94.99. The company has a market capitalization of $6.90 billion, a P/E ratio of 13.94, a PEG ratio of 0.31 and a beta of 1.43. Mr. Cooper Group has a 52 week low of $70.01 and a 52 week high of $109.72.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings data on Wednesday, February 12th. The company reported $2.73 EPS for the quarter, topping the consensus estimate of $2.65 by $0.08. Mr. Cooper Group had a return on equity of 13.77% and a net margin of 25.87%. Equities analysts anticipate that Mr. Cooper Group will post 10.18 earnings per share for the current year.

Insider Transactions at Mr. Cooper Group

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

Hedge Funds Weigh In On Mr. Cooper Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB raised its stake in Mr. Cooper Group by 9,175.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 4,916 shares of the company’s stock worth $472,000 after acquiring an additional 4,863 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Mr. Cooper Group by 6.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 916,365 shares of the company’s stock worth $84,471,000 after acquiring an additional 52,001 shares during the last quarter. Cynosure Group LLC purchased a new position in Mr. Cooper Group in the 3rd quarter worth $730,000. World Investment Advisors LLC purchased a new position in Mr. Cooper Group in the 3rd quarter worth $2,537,000. Finally, FMR LLC raised its stake in shares of Mr. Cooper Group by 42.9% during the 3rd quarter. FMR LLC now owns 485,907 shares of the company’s stock valued at $44,791,000 after buying an additional 145,767 shares during the last quarter. Hedge funds and other institutional investors 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.