Mr. Cooper Group (NASDAQ:COOP) Hits New 1-Year High - Here's Why

Mr. Cooper Group Inc (NASDAQ:COOP - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $152.42 and last traded at $152.34, with a volume of 936119 shares changing hands. The stock had previously closed at $149.12.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on COOP shares. UBS Group upped their price objective on Mr. Cooper Group from $135.00 to $145.00 and gave the stock a "buy" rating in a research note on Wednesday, April 16th. Citizens Jmp lowered shares of Mr. Cooper Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 1st. Barclays raised their price target on shares of Mr. Cooper Group from $130.00 to $147.00 and gave the company an "overweight" rating in a report on Tuesday, April 8th. Keefe, Bruyette & Woods boosted their price objective on shares of Mr. Cooper Group from $115.00 to $143.00 and gave the stock a "market perform" rating in a research note on Tuesday, April 8th. Finally, Piper Sandler cut shares of Mr. Cooper Group from an "overweight" rating to a "neutral" rating and increased their target price for the company from $125.00 to $143.00 in a research report on Friday, April 4th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $131.14.

Mr. Cooper Group Stock Performance

The business's 50 day moving average is $128.01 and its 200 day moving average is $112.87. The company has a market capitalization of $9.60 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 0.44 and a beta of 1.03.

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

Institutional Trading of Mr. Cooper Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in COOP. DLD Asset Management LP acquired a new position in shares of Mr. Cooper Group in the first quarter valued at about $1,495,000. Strs Ohio purchased a new stake in Mr. Cooper Group in the first quarter valued at approximately $849,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Mr. Cooper Group by 8.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 136,674 shares of the company's stock valued at $16,346,000 after buying an additional 11,097 shares during the last quarter. Slotnik Capital LLC acquired a new position in Mr. Cooper Group in the 1st quarter worth approximately $4,784,000. Finally, United Services Automobile Association purchased a new position in Mr. Cooper Group during the 1st quarter worth approximately $508,000. Institutional investors and hedge funds own 89.82% of the company's stock.

About Mr. Cooper Group

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.