JMP Securities Reaffirms Market Outperform Rating for Mr. Cooper Group (NASDAQ:COOP)

Mr. Cooper Group (NASDAQ:COOP)‘s stock had its “market outperform” rating reiterated by stock analysts at JMP Securities in a research note issued on Thursday,Benzinga reports. They currently have a $115.00 price target on the stock. JMP Securities’ target price suggests a potential upside of 7.14% from the company’s current price.

A number of other research analysts have also recently weighed in on the stock. Compass Point boosted their price objective 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. Citizens Jmp raised shares of Mr. Cooper Group to a “strong-buy” rating in a research note on Tuesday, January 14th. 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. Barclays increased their price target on shares of Mr. Cooper Group from $111.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Wedbush reissued an “outperform” rating and set a $115.00 price target on shares of Mr. Cooper Group 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 data from MarketBeat, Mr. Cooper Group currently has a consensus rating of “Moderate Buy” and an average target price of $106.88.

Mr. Cooper Group Stock Performance

COOP stock traded up $0.62 during mid-day trading on Thursday, reaching $107.33. 28,840 shares of the stock traded hands, compared to its average volume of 484,415. Mr. Cooper Group has a one year low of $70.01 and a one year high of $108.56. The stock has a market capitalization of $6.87 billion, a PE ratio of 13.87, a PEG ratio of 0.31 and a beta of 1.43. The business has a 50-day moving average price of $99.01 and a two-hundred day moving average price of $94.78.

Mr. Cooper Group (NASDAQ:COOP) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.65 by $0.08. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%. On average, equities analysts expect that Mr. Cooper Group will post 10.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $97.58, for a total value of $2,927,400.00. Following the transaction, the chief executive officer now owns 788,821 shares in the company, valued at approximately $76,973,153.18. This represents a 3.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mr. Cooper Group

Several hedge funds and other institutional investors have recently bought and sold shares of COOP. Picton Mahoney Asset Management grew its stake in shares of 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 purchasing an additional 95 shares during the period. Williamson Legacy Group LLC lifted its holdings in Mr. Cooper Group by 1.1% in the 4th quarter. Williamson Legacy Group LLC now owns 10,835 shares of the company’s stock valued at $1,040,000 after purchasing an additional 118 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in Mr. Cooper Group by 2.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 4,984 shares of the company’s stock valued at $479,000 after purchasing an additional 128 shares in the last quarter. Dakota Wealth Management lifted its holdings in Mr. Cooper Group by 0.7% in the 4th quarter. Dakota Wealth Management now owns 27,695 shares of the company’s stock valued at $2,659,000 after purchasing an additional 181 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in Mr. Cooper Group by 5.6% in the 4th quarter. Quadrant Capital Group LLC now owns 3,468 shares of the company’s stock valued at $333,000 after purchasing an additional 184 shares in the last quarter. 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.