Mr. Cooper Group (NASDAQ:COOP) Shares Gap Down – What’s Next?

Shares of Mr. Cooper Group Inc. (NASDAQ:COOP) gapped down prior to trading on Wednesday . The stock had previously closed at $107.32, but opened at $101.77. Mr. Cooper Group shares last traded at $106.93, with a volume of 158,046 shares changing hands.

Analysts Set New Price Targets

Several equities analysts recently commented on COOP shares. Barclays raised their target price on Mr. Cooper Group from $111.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday. JMP Securities reissued a “market outperform” rating and set a $115.00 price objective on shares of Mr. Cooper Group in a report on Thursday. Keefe, Bruyette & Woods upped their target price on shares of Mr. Cooper Group from $105.00 to $115.00 and gave the stock a “market perform” rating in a report on Thursday. Citizens Jmp upgraded shares of Mr. Cooper Group to a “strong-buy” rating in a research report on Tuesday, January 14th. Finally, Compass Point boosted their price target on shares of 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 equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $109.38.

Mr. Cooper Group Trading Up 1.8 %

The company has a market capitalization of $6.95 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 0.31 and a beta of 1.43. The company has a 50 day moving average price of $99.27 and a 200 day moving average price of $94.88.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings data 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 return on equity of 13.77% and a net margin of 25.87%. Equities analysts predict that Mr. Cooper Group Inc. will post 10.18 earnings per share for the current year.

Insider Activity at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 30,000 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now owns 758,821 shares in the company, valued at approximately $71,700,996.29. This represents a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mr. Cooper Group

Several large investors have recently modified their holdings of the business. Norges Bank acquired a new stake in Mr. Cooper Group during the 4th quarter worth approximately $72,984,000. Veridan Wealth LLC bought a new stake in shares of Mr. Cooper Group during the fourth quarter worth $56,244,000. Wellington Management Group LLP raised its holdings in shares of Mr. Cooper Group by 43.1% during the fourth quarter. Wellington Management Group LLP now owns 1,138,904 shares of the company’s stock worth $109,346,000 after acquiring an additional 343,243 shares during the period. FMR LLC lifted its position in Mr. Cooper Group by 42.9% in the 3rd quarter. FMR LLC now owns 485,907 shares of the company’s stock valued at $44,791,000 after acquiring an additional 145,767 shares in the last quarter. Finally, Basswood Capital Management L.L.C. boosted its stake in Mr. Cooper Group by 36.6% in the 3rd quarter. Basswood Capital Management L.L.C. now owns 496,243 shares of the company’s stock worth $45,744,000 after purchasing an additional 132,970 shares during the period. 89.82% of the stock is currently owned by 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.