UBS Group Reaffirms "Neutral" Rating for Mr. Cooper Group (NASDAQ:COOP)

Key Points

• UBS Group raised the price target for Mr. Cooper Group from $156.00 to $178.00, maintaining a "neutral" rating, which indicates a potential downside of 0.64% from its current price.
• Mr. Cooper Group reported $3.13 earnings per share for the last quarter, missing estimates by $0.15, and experienced a revenue growth of 8.6% year-over-year, despite a revenue of $608 million that fell short of expectations.
• CEO Jesse K. Bray sold 30,000 shares of the company stock for $5.24 million, reducing his ownership by 4.33%, while institutional investors hold a significant 89.82% of the stock.

UBS Group reaffirmed their neutral rating on shares of Mr. Cooper Group (NASDAQ:COOP - Free Report) in a report issued on Tuesday morning, Marketbeat.com reports. They currently have a $178.00 price objective on the stock, up from their previous price objective of $156.00.

A number of other brokerages also recently commented on COOP. Keefe, Bruyette & Woods increased their price objective 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 raised their target price on Mr. Cooper Group from $147.00 to $156.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Piper Sandler raised their price objective on shares of Mr. Cooper Group from $143.00 to $158.00 and gave the stock a "neutral" rating in a report on Tuesday, July 1st. Finally, Jefferies Financial Group upped their target price on shares of Mr. Cooper Group from $110.00 to $150.00 and gave the company a "hold" rating in a report on Tuesday, July 22nd. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $140.38.

Mr. Cooper Group Trading Up 0.7%

NASDAQ:COOP opened at $190.76 on Tuesday. The stock has a fifty day moving average price of $150.06 and a 200 day moving average price of $125.81. Mr. Cooper Group has a 12-month low of $82.71 and a 12-month high of $192.69. The firm has a market cap of $12.21 billion, a PE ratio of 21.83 and a beta of 0.98.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $3.13 EPS for the quarter, missing analysts' consensus estimates of $3.28 by ($0.15). Mr. Cooper Group had a return on equity of 15.66% and a net margin of 25.38%. The company had revenue of $608.00 million for the quarter, compared to analyst estimates of $669.23 million. During the same period in the prior year, the firm posted $3.10 earnings per share. The business's quarterly revenue was up 8.6% compared to the same quarter last year. Equities analysts forecast that Mr. Cooper Group will post 13.17 EPS for the current year.

Insider Buying and Selling

In other news, CEO Jesse K. Bray sold 30,000 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $174.72, for a total value of $5,241,600.00. Following the transaction, the chief executive officer owned 663,187 shares of the company's stock, valued at approximately $115,872,032.64. The trade was a 4.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mr. Cooper Group

Several institutional investors have recently bought and sold shares of COOP. 140 Summer Partners LP purchased a new position in shares of Mr. Cooper Group in the 4th quarter valued at about $69,959,000. Cercano Management LLC increased its holdings in Mr. Cooper Group by 66.5% in the fourth quarter. Cercano Management LLC now owns 790,753 shares of the company's stock valued at $75,920,000 after buying an additional 315,801 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Mr. Cooper Group by 14,148.0% during the 1st quarter. GAMMA Investing LLC now owns 311,319 shares of the company's stock worth $37,234,000 after acquiring an additional 309,134 shares in the last quarter. Alpine Associates Management Inc. increased its position in shares of Mr. Cooper Group by 287.7% in the second quarter. Alpine Associates Management Inc. now owns 347,340 shares of the company's stock valued at $51,827,000 after buying an additional 257,740 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Mr. Cooper Group by 11.8% in the 1st quarter. Invesco Ltd. now owns 2,013,536 shares of the company's stock valued at $240,819,000 after acquiring an additional 213,167 shares during the last quarter. 89.82% of the stock is owned by institutional investors and hedge funds.

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.