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 Ratings reports. UBS Group currently has a $178.00 price objective on the stock, up from their previous price objective of $156.00.

A number of other equities analysts also recently commented on the stock. Barclays lifted their price objective on shares of Mr. Cooper Group from $147.00 to $156.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods lifted 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 report on Tuesday, April 8th. Piper Sandler lifted 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 raised their target price on Mr. Cooper Group from $110.00 to $150.00 and gave the company a "hold" rating in a research note on Tuesday, July 22nd. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $140.38.

Mr. Cooper Group Stock Performance

Shares of COOP stock traded down $8.53 during mid-day trading on Tuesday, reaching $177.35. 593,887 shares of the company were exchanged, compared to its average volume of 1,156,575. Mr. Cooper Group has a fifty-two week low of $84.15 and a fifty-two week high of $193.86. The company has a market capitalization of $11.35 billion, a P/E ratio of 20.29 and a beta of 0.98. The business's 50 day simple moving average is $152.09 and its 200 day simple moving average is $126.89.

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

Insider Buying and Selling at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $174.72, for a total transaction of $5,241,600.00. Following the sale, the chief executive officer directly owned 663,187 shares in the company, valued at $115,872,032.64. The trade was a 4.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.73% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mr. Cooper Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bessemer Group Inc. raised its position in Mr. Cooper Group by 3.6% in the second quarter. Bessemer Group Inc. now owns 1,831 shares of the company's stock worth $273,000 after acquiring an additional 63 shares in the last quarter. Allworth Financial LP raised its position in Mr. Cooper Group by 24.5% in the first quarter. Allworth Financial LP now owns 442 shares of the company's stock worth $51,000 after acquiring an additional 87 shares in the last quarter. AlphaQuest LLC raised its position in Mr. Cooper Group by 88.0% in the second quarter. AlphaQuest LLC now owns 188 shares of the company's stock worth $28,000 after acquiring an additional 88 shares in the last quarter. Sage Rhino Capital LLC raised its position in Mr. Cooper Group by 4.7% in the first quarter. Sage Rhino Capital LLC now owns 2,187 shares of the company's stock worth $262,000 after acquiring an additional 98 shares in the last quarter. Finally, Penbrook Management LLC raised its position in Mr. Cooper Group by 0.6% in the first quarter. Penbrook Management LLC now owns 15,825 shares of the company's stock worth $1,893,000 after acquiring an additional 100 shares in the last quarter. 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.