Mr. Cooper Group (NASDAQ:COOP) Coverage Initiated at JMP Securities

Equities research analysts at JMP Securities began coverage on shares of Mr. Cooper Group (NASDAQ:COOP) in a research report issued to clients and investors on Tuesday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $115.00 price target on the stock. JMP Securities’ price objective indicates a potential upside of 24.66% from the stock’s current price.

Several other research analysts also recently commented on COOP. Barclays lifted their price target on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Wedbush reissued an “outperform” rating and issued a $115.00 price target on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Finally, Compass Point raised their price objective on Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $102.38.

Mr. Cooper Group Price Performance

Shares of NASDAQ:COOP opened at $92.25 on Tuesday. Mr. Cooper Group has a one year low of $61.38 and a one year high of $103.05. The firm has a market capitalization of $5.90 billion, a price-to-earnings ratio of 11.92 and a beta of 1.43. The company’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 issued its quarterly earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.30. The firm had revenue of $616.00 million during the quarter, compared to analyst estimates 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 in the previous year, the company posted $2.79 earnings per share. As a group, equities research analysts expect that Mr. Cooper Group will post 10.16 EPS for the current year.

Insider Buying and Selling

In other news, CEO Jesse K. Bray sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $94.49, for a total transaction of $2,834,700.00. Following the transaction, the chief executive officer now directly owns 758,821 shares of the company’s stock, valued at approximately $71,700,996.29. The trade was a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 90,000 shares of company stock valued at $8,414,400 over the last ninety days. 2.33% of the stock is owned by insiders.

Institutional Trading of Mr. Cooper Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in COOP. Charles Schwab Investment Management Inc. raised its holdings 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 purchasing an additional 52,001 shares in the last quarter. World Investment Advisors LLC purchased a new position in shares of Mr. Cooper Group during the third quarter valued at about $2,537,000. Cynosure Group LLC purchased a new stake in Mr. Cooper Group in the third quarter worth about $730,000. FMR LLC lifted its holdings in Mr. Cooper Group by 42.9% in the third quarter. FMR LLC now owns 485,907 shares of the company’s stock worth $44,791,000 after buying an additional 145,767 shares during the period. Finally, Range Financial Group LLC bought a new stake in Mr. Cooper Group during the 4th quarter valued at approximately $1,091,000. Hedge funds and other institutional investors own 89.82% of the company’s stock.

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.