Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Mr. Cooper Group (NASDAQ:COOP) Stock

Mr. Cooper Group (NASDAQ:COOP) had its price objective boosted by Keefe, Bruyette & Woods from $105.00 to $115.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 6.64% from the stock’s previous close.

COOP has been the topic of several other research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $115.00 target price on shares of Mr. Cooper Group in a research note on Thursday. Compass Point upped their target price on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Wedbush reiterated an “outperform” rating and issued a $115.00 target price on shares of Mr. Cooper Group in a report on Thursday, October 24th. Barclays boosted their price target on shares of Mr. Cooper Group from $111.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Citizens Jmp raised Mr. Cooper Group to a “strong-buy” rating in a research note on Tuesday, January 14th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $109.38.

Mr. Cooper Group Price Performance

Shares of NASDAQ:COOP traded up $1.13 during trading on Thursday, reaching $107.84. The stock had a trading volume of 37,527 shares, compared to its average volume of 484,497. The stock has a market capitalization of $6.90 billion, a PE ratio of 13.94, a P/E/G 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 $108.56. The business’s 50-day moving average price is $99.01 and its 200 day moving average price is $94.78.

Mr. Cooper Group (NASDAQ:COOP) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $2.73 earnings per share (EPS) for the quarter, beating 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%. Analysts forecast that Mr. Cooper Group will post 10.18 EPS for the current year.

Insider Buying and Selling

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $97.58, for a total transaction of $2,927,400.00. Following the completion of the sale, the chief executive officer now directly owns 788,821 shares in the company, valued at $76,973,153.18. This represents a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.33% of the stock is owned by company insiders.

Institutional Trading of Mr. Cooper Group

Hedge funds have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC lifted its holdings in Mr. Cooper Group by 5.6% during the 4th quarter. Quadrant Capital Group LLC now owns 3,468 shares of the company’s stock worth $333,000 after buying an additional 184 shares during the period. Envestnet Asset Management Inc. increased its holdings in Mr. Cooper Group by 9.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 24,793 shares of the company’s stock worth $2,380,000 after purchasing an additional 2,199 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC acquired a new position in Mr. Cooper Group in the fourth quarter valued at approximately $502,000. Wells Fargo & Company MN increased its stake in shares of Mr. Cooper Group by 8.7% in the 4th quarter. Wells Fargo & Company MN now owns 82,452 shares of the company’s stock valued at $7,916,000 after acquiring an additional 6,588 shares in the last quarter. Finally, Riverwater Partners LLC bought a new stake in shares of Mr. Cooper Group in the 4th quarter valued at $1,181,000. Institutional investors and hedge funds 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.