Mr. Cooper Group (NASDAQ:COOP) Sets New 12-Month High - Should You Buy?

Mr. Cooper Group Inc (NASDAQ:COOP - Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as $147.88 and last traded at $146.79, with a volume of 534006 shares traded. The stock had previously closed at $139.63.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on COOP. Barclays upped their price target on shares of Mr. Cooper Group from $130.00 to $147.00 and gave the company an "overweight" rating in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods lifted their target price on Mr. Cooper Group from $115.00 to $143.00 and gave the stock a "market perform" rating in a report on Tuesday, April 8th. Citizens Jmp lowered Mr. Cooper Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 1st. UBS Group increased their price target on Mr. Cooper Group from $135.00 to $145.00 and gave the company a "buy" rating in a research note on Wednesday, April 16th. Finally, Piper Sandler lowered Mr. Cooper Group from an "overweight" rating to a "neutral" rating and lifted their price objective for the stock from $125.00 to $143.00 in a research note on Friday, April 4th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $131.14.

Mr. Cooper Group Price Performance

The firm has a market cap of $9.54 billion, a price-to-earnings ratio of 16.95, a price-to-earnings-growth ratio of 0.43 and a beta of 1.03. The firm's fifty day moving average is $126.45 and its 200-day moving average is $112.07.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The company reported $2.97 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.16. Mr. Cooper Group had a return on equity of 15.27% and a net margin of 25.93%. The firm had revenue of $560.00 million during the quarter, compared to analyst estimates of $620.57 million. During the same period last year, the company posted $2.73 EPS. The business's quarterly revenue was down .7% on a year-over-year basis. As a group, equities research analysts anticipate that Mr. Cooper Group Inc will post 13.17 EPS for the current year.

Institutional Investors Weigh In On Mr. Cooper Group

Hedge funds have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. bought a new position in shares of Mr. Cooper Group during the 1st quarter worth approximately $26,000. Picton Mahoney Asset Management lifted its position 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 valued at $31,000 after acquiring an additional 95 shares during the period. Allworth Financial LP lifted its position in shares of Mr. Cooper Group by 24.5% during the 1st quarter. Allworth Financial LP now owns 442 shares of the company's stock valued at $51,000 after acquiring an additional 87 shares during the period. USA Financial Formulas bought a new position in Mr. Cooper Group during the first quarter worth $55,000. Finally, SVB Wealth LLC acquired a new stake in Mr. Cooper Group in the first quarter worth $62,000. 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.