Mr. Cooper Group (NASDAQ:COOP) Reaches New 52-Week High – What’s Next?

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Citizens Jmp upgraded Mr. Cooper Group to a “strong-buy” rating in a research report on Tuesday, January 14th. UBS Group lifted their price objective on Mr. Cooper Group from $122.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Barclays upped their target price on shares of Mr. Cooper Group from $111.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. JMP Securities reissued a “market outperform” rating and set a $115.00 price target on shares of Mr. Cooper Group in a report on Thursday, February 13th. Finally, Piper Sandler upped their price objective on shares of Mr. Cooper Group from $113.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $112.22.

Mr. Cooper Group Stock Up 14.5 %

The stock’s 50-day moving average price is $106.35 and its 200-day moving average price is $98.93. The company has a market capitalization of $7.61 billion, a price-to-earnings ratio of 11.75, a price-to-earnings-growth ratio of 0.32 and a beta of 1.49.

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

Insider Activity at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $112.24, for a total transaction of $3,367,200.00. Following the transaction, the chief executive officer now directly owns 698,821 shares in the company, valued at approximately $78,435,669.04. This represents a 4.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.33% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mr. Cooper Group

A number of institutional investors and hedge funds have recently modified their holdings of COOP. Picton Mahoney Asset Management grew its holdings in Mr. Cooper Group by 41.3% during the 4th quarter. Picton Mahoney Asset Management now owns 325 shares of the company’s stock worth $31,000 after acquiring an additional 95 shares during the period. Asset Planning Inc bought a new position in shares of Mr. Cooper Group in the 4th quarter worth $48,000. ORG Partners LLC acquired a new stake in shares of Mr. Cooper Group during the fourth quarter worth $51,000. Kapitalo Investimentos Ltda bought a new stake in Mr. Cooper Group in the fourth quarter valued at about $70,000. Finally, Covestor Ltd increased its holdings in Mr. Cooper Group by 418.9% in the fourth quarter. Covestor Ltd now owns 742 shares of the company’s stock valued at $71,000 after purchasing an additional 599 shares during the last quarter. 89.82% of the stock is 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.