Mr. Cooper Group (NASDAQ:COOP) Sets New 12-Month High – Still a Buy?

Mr. Cooper Group Inc. (NASDAQ:COOP) shares hit a new 52-week high on Tuesday . The company traded as high as $125.86 and last traded at $119.60, with a volume of 6437896 shares trading hands. The stock had previously closed at $104.49.

Analysts Set New Price Targets

Several research firms have recently weighed in on COOP. Barclays increased their price target on Mr. Cooper Group from $111.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. JMP Securities restated a “market outperform” rating and set a $115.00 price target on shares of Mr. Cooper Group in a research note on Thursday, February 13th. Keefe, Bruyette & Woods increased their price objective on shares of Mr. Cooper Group from $105.00 to $115.00 and gave the stock a “market perform” rating in a research note on Thursday, February 13th. Piper Sandler raised their price objective on shares of Mr. Cooper Group from $113.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Finally, UBS Group upped their target price on shares of Mr. Cooper Group from $122.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Mr. Cooper Group has an average rating of “Moderate Buy” and an average price target of $112.22.

Mr. Cooper Group Price Performance

The stock’s 50-day simple moving average is $107.42 and its two-hundred day simple moving average is $99.39. The firm has a market capitalization of $8.49 billion, a P/E ratio of 13.12, a price-to-earnings-growth ratio of 0.32 and a beta of 1.49.

Mr. Cooper Group (NASDAQ:COOP) last issued its earnings results on Wednesday, February 12th. The company reported $2.73 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.08. Mr. Cooper Group had a net margin of 30.07% and a return on equity of 14.76%. On average, analysts forecast that Mr. Cooper Group Inc. will post 13.17 earnings per share for the current fiscal year.

Insider Activity at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $112.24, for a total value of $3,367,200.00. Following the transaction, the chief executive officer now owns 698,821 shares of the company’s stock, valued at approximately $78,435,669.04. The trade was a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.33% of the stock is owned by corporate insiders.

Institutional Trading of Mr. Cooper Group

Hedge funds have recently bought and sold shares of the stock. Penbrook Management LLC increased its holdings in shares of Mr. Cooper Group by 0.6% in the first quarter. Penbrook Management LLC now owns 15,825 shares of the company’s stock worth $1,893,000 after purchasing an additional 100 shares during the last quarter. Copia Wealth Management purchased a new position in Mr. Cooper Group during the 4th quarter valued at approximately $292,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Mr. Cooper Group in the 4th quarter worth approximately $5,409,000. Jefferies Financial Group Inc. purchased a new stake in shares of Mr. Cooper Group during the 4th quarter worth approximately $394,000. Finally, Integrated Advisors Network LLC bought a new position in shares of Mr. Cooper Group during the 4th quarter valued at approximately $322,000. 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.