MR. COOPER GROUP (NASDAQ:COOP) Hits New 12-Month High Following Analyst Upgrade

Shares of MR. COOPER GROUP INC (NASDAQ:COOP - Get Free Report) hit a new 52-week high on Wednesday after Piper Sandler raised their price target on the stock from $143.00 to $158.00. Piper Sandler currently has a neutral rating on the stock. MR. COOPER GROUP traded as high as $156.87 and last traded at $154.80, with a volume of 427873 shares trading hands. The stock had previously closed at $152.18.

A number of other equities analysts also recently issued reports on the company. Citizens Jmp downgraded MR. COOPER GROUP from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 1st. Keefe, Bruyette & Woods increased their target price on shares of MR. COOPER GROUP from $115.00 to $143.00 and gave the company a "market perform" rating in a research report on Tuesday, April 8th. Barclays lifted their price target on shares of MR. COOPER GROUP from $130.00 to $147.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 8th. Finally, UBS Group raised their price objective on MR. COOPER GROUP from $135.00 to $145.00 and gave the stock a "buy" rating in a report on Wednesday, April 16th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $133.29.

Insider Transactions at MR. COOPER GROUP

In other news, CEO Jesse K. Bray sold 30,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $152.14, for a total value of $4,564,200.00. Following the completion of the sale, the chief executive officer directly owned 693,187 shares of the company's stock, valued at approximately $105,461,470.18. This represents a 4.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.73% of the company's stock.

Hedge Funds Weigh In On MR. COOPER GROUP

Several institutional investors have recently added to or reduced their stakes in the stock. KLP Kapitalforvaltning AS acquired a new position in shares of MR. COOPER GROUP in the fourth quarter valued at approximately $1,603,000. Park Avenue Securities LLC purchased a new position in MR. COOPER GROUP in the 1st quarter valued at $1,684,000. Assenagon Asset Management S.A. increased its stake in MR. COOPER GROUP by 13.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,057,176 shares of the company's stock valued at $126,438,000 after buying an additional 129,414 shares during the period. Jefferies Financial Group Inc. purchased a new position in MR. COOPER GROUP during the 4th quarter worth $394,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of MR. COOPER GROUP by 15.5% in the 4th quarter. JPMorgan Chase & Co. now owns 644,159 shares of the company's stock worth $61,846,000 after acquiring an additional 86,510 shares during the period. Institutional investors and hedge funds own 89.82% of the company's stock.

MR. COOPER GROUP Stock Up 0.9%

The company's fifty day moving average price is $131.96 and its two-hundred day moving average price is $114.77. The firm has a market cap of $9.82 billion, a PE ratio of 17.44, a P/E/G ratio of 0.44 and a beta of 1.05.

MR. COOPER GROUP (NASDAQ:COOP - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $2.97 earnings per share for the quarter, beating analysts' consensus estimates of $2.81 by $0.16. The company had revenue of $560.00 million for the quarter, compared to analyst estimates of $620.57 million. MR. COOPER GROUP had a return on equity of 15.27% and a net margin of 25.93%. The firm's revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.73 EPS. As a group, analysts predict that MR. COOPER GROUP INC will post 13.17 earnings per share for the current year.

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.