Mr. Cooper Group (NASDAQ:COOP) Reaches New 1-Year High - Here's What Happened

Key Points

• Mr. Cooper Group's share price recently reached a new 52-week high, trading as high as $193.86 before closing at $185.88.
• Despite the stock's strong performance, recent earnings results showed a miss on EPS estimates, reporting $3.13 against an expected $3.28.
• Analysts have varying outlooks, with five holding a 'hold' rating and four giving a 'buy' rating, highlighting a mixed sentiment towards the stock's future performance.

Mr. Cooper Group Inc (NASDAQ:COOP - Get Free Report) reached a new 52-week high during trading on Friday . The stock traded as high as $193.86 and last traded at $185.88, with a volume of 656653 shares changing hands. The stock had previously closed at $190.76.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Jefferies Financial Group lifted their price target 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. Barclays lifted their price target on shares of Mr. Cooper Group from $147.00 to $156.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Piper Sandler lifted their price target on shares of Mr. Cooper Group from $143.00 to $158.00 and gave the company a "neutral" rating in a report on Tuesday, July 1st. Finally, UBS Group set a $176.00 target price on shares of Mr. Cooper Group in a research note on Tuesday. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Mr. Cooper Group presently has an average rating of "Hold" and an average target price of $140.38.

Mr. Cooper Group Stock Performance

The business's 50 day moving average price is $152.09 and its two-hundred day moving average price is $127.06. The company has a market capitalization of $11.35 billion, a price-to-earnings ratio of 20.29 and a beta of 0.98.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last issued 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 during 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 company's revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the company posted $3.10 earnings per share. On average, sell-side analysts expect that Mr. Cooper Group Inc will post 13.17 earnings per share for the current year.

Insider Buying and Selling at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 30,000 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were sold at an average price of $174.72, for a total value 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.73% of the company's stock.

Institutional Trading of Mr. Cooper Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. AlphaQuest LLC raised its holdings in shares of Mr. Cooper Group by 88.0% in the 2nd quarter. AlphaQuest LLC now owns 188 shares of the company's stock worth $28,000 after purchasing an additional 88 shares in the last quarter. First Horizon Advisors Inc. bought a new stake in shares of Mr. Cooper Group in the 1st quarter worth approximately $26,000. Allworth Financial LP raised its holdings in shares of Mr. Cooper Group by 24.5% in the 1st quarter. Allworth Financial LP now owns 442 shares of the company's stock worth $51,000 after purchasing an additional 87 shares in the last quarter. USA Financial Formulas bought a new stake in shares of Mr. Cooper Group in the 1st quarter worth approximately $55,000. Finally, SVB Wealth LLC bought a new stake in shares of Mr. Cooper Group in the 1st quarter worth approximately $62,000. 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.