Mr. Cooper Group (NASDAQ:COOP) Hits New 52-Week High – Time to Buy?

Shares of Mr. Cooper Group Inc. (NASDAQ:COOP) hit a new 52-week high on Thursday . The stock traded as high as $112.54 and last traded at $112.55, with a volume of 174998 shares trading hands. The stock had previously closed at $110.79.

Analysts Set New Price Targets

COOP has been the topic of several analyst reports. UBS Group lifted their target price on Mr. Cooper Group from $122.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Barclays lifted their target price on Mr. Cooper Group from $111.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Piper Sandler raised their price target on Mr. Cooper Group from $113.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. JMP Securities reaffirmed a “market outperform” rating and set a $115.00 price objective on shares of Mr. Cooper Group in a report on Thursday, February 13th. Finally, Citizens Jmp raised Mr. Cooper Group to a “strong-buy” rating in a report on Tuesday, January 14th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Mr. Cooper Group presently has a consensus rating of “Moderate Buy” and an average price target of $112.22.

Mr. Cooper Group Price Performance

The stock has a 50-day simple moving average of $101.59 and a 200 day simple moving average of $96.36. The company has a market capitalization of $7.09 billion, a PE ratio of 10.95, a P/E/G ratio of 0.32 and a beta of 1.43.

Mr. Cooper Group (NASDAQ:COOP) last posted its earnings results on Wednesday, February 12th. The company reported $2.73 EPS for the quarter, topping analysts’ consensus estimates of $2.65 by $0.08. Mr. Cooper Group had a return on equity of 14.76% and a net margin of 30.07%. As a group, research analysts predict that Mr. Cooper Group Inc. will post 13.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jesse K. Bray sold 30,000 shares of the company’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 sale, the chief executive officer now directly owns 758,821 shares in the company, valued at $71,700,996.29. This represents a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.33% of the stock is owned by company insiders.

Institutional Trading of Mr. Cooper Group

Several institutional investors and hedge funds have recently made changes to their positions in COOP. Picton Mahoney Asset Management increased its stake in Mr. Cooper Group by 41.3% in the fourth quarter. Picton Mahoney Asset Management now owns 325 shares of the company’s stock valued at $31,000 after purchasing an additional 95 shares during the last quarter. Harvest Fund Management Co. Ltd increased its stake in Mr. Cooper Group by 152.5% in the third quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock valued at $41,000 after purchasing an additional 270 shares during the last quarter. Asset Planning Inc acquired a new position in Mr. Cooper Group in the fourth quarter valued at $48,000. ORG Partners LLC acquired a new position in Mr. Cooper Group in the fourth quarter valued at $51,000. Finally, Harbor Capital Advisors Inc. acquired a new position in Mr. Cooper Group in the third quarter valued at $52,000. 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.