Mr. Cooper Group (NASDAQ:COOP) Reaches New 1-Year High - Time to Buy?

Key Points

• Mr. Cooper Group Inc. shares hit a new **52-week high** of $231.52 during trading, closing at $218.00 with a trading volume of **987,560 shares**.
• Analysts have raised their price targets for the stock, with **Piper Sandler** increasing their target to $158.00 and **UBS Group** setting a target of **$176.00**, while overall the company holds an average rating of **"Hold"**.
• Mr. Cooper reported **$3.13 EPS** for the last quarter, missing estimates by $0.15, with a revenue of **$608 million**, but still showing an **8.6% increase** year-over-year.

Mr. Cooper Group Inc (NASDAQ:COOP - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $231.52 and last traded at $218.00, with a volume of 987560 shares changing hands. The stock had previously closed at $215.29.

Analyst Upgrades and Downgrades

COOP has been the topic of several recent analyst reports. Barclays boosted their target price on shares of Mr. Cooper Group from $147.00 to $156.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Piper Sandler upped their price target on shares of Mr. Cooper Group from $143.00 to $158.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 1st. UBS Group set a $176.00 price target on shares of Mr. Cooper Group in a research report on Tuesday, August 5th. Finally, Jefferies Financial Group upped their price target on shares of Mr. Cooper Group from $110.00 to $150.00 and gave the stock a "hold" rating in a research report on Tuesday, July 22nd. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $140.38.

Mr. Cooper Group Trading Down 1.9%

The business has a 50 day moving average of $180.21 and a 200-day moving average of $143.66. The firm has a market capitalization of $13.79 billion, a P/E ratio of 24.70 and a beta of 0.98.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $3.13 earnings per share (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 business had revenue of $608.00 million for the quarter, compared to the consensus estimate of $669.23 million. During the same period in the previous year, the company posted $3.10 earnings per share. Mr. Cooper Group's revenue for the quarter was up 8.6% compared to the same quarter last year. On average, analysts anticipate that Mr. Cooper Group Inc will post 13.17 EPS for the current fiscal year.

Insider Transactions at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $182.43, for a total transaction of $5,472,900.00. Following the completion of the sale, the chief executive officer directly owned 633,187 shares of the company's stock, valued at approximately $115,512,304.41. This represents a 4.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders sold 90,000 shares of company stock worth $15,278,700. 1.73% of the stock is currently owned by corporate insiders.

Institutional Trading of Mr. Cooper Group

Large investors have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Mr. Cooper Group in the 2nd quarter valued at approximately $258,538,000. Third Point LLC acquired a new stake in shares of Mr. Cooper Group in the 2nd quarter valued at approximately $138,019,000. Qube Research & Technologies Ltd boosted its holdings in shares of Mr. Cooper Group by 154.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 803,131 shares of the company's stock valued at $119,835,000 after buying an additional 487,503 shares during the last quarter. Whitebox Advisors LLC acquired a new stake in shares of Mr. Cooper Group in the 2nd quarter valued at approximately $72,344,000. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Mr. Cooper Group in the 2nd quarter valued at approximately $61,297,000. 89.82% of the stock is 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.