Mr. Cooper Group (NASDAQ:COOP) Reaches New 52-Week High - What's Next?

Shares of Mr. Cooper Group Inc (NASDAQ:COOP - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $158.10 and last traded at $156.04, with a volume of 439819 shares. The stock had previously closed at $150.43.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on COOP shares. Keefe, Bruyette & Woods raised 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 research note on Tuesday, April 8th. Citizens Jmp downgraded shares of Mr. Cooper Group from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 1st. 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 research note on Tuesday, July 1st. Barclays lifted their price objective 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. Finally, UBS Group reissued a "neutral" rating and set a $156.00 price objective on shares of Mr. Cooper Group in a report on Tuesday, July 15th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Mr. Cooper Group has a consensus rating of "Moderate Buy" and a consensus target price of $136.14.

Mr. Cooper Group Price Performance

The company's fifty day simple moving average is $140.07 and its 200-day simple moving average is $119.74. The firm has a market capitalization of $10.29 billion, a PE ratio of 18.27, a price-to-earnings-growth 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 firm had revenue of $560.00 million for the quarter, compared to analyst estimates of $620.57 million. Mr. Cooper Group had a net margin of 25.93% and a return on equity of 15.27%. The business's quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.73 earnings per share. As a group, equities research analysts anticipate that Mr. Cooper Group Inc will post 13.17 earnings per share for the current fiscal 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 on Tuesday, July 1st. The shares were sold at an average price of $152.14, for a total transaction of $4,564,200.00. Following the completion of the transaction, the chief executive officer directly owned 693,187 shares in the company, valued at $105,461,470.18. The trade was a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. USA Financial Formulas grew its stake in Mr. Cooper Group by 91.1% during the 2nd quarter. USA Financial Formulas now owns 883 shares of the company's stock valued at $132,000 after acquiring an additional 421 shares in the last quarter. Truist Financial Corp grew its stake in shares of Mr. Cooper Group by 42.5% in the 2nd quarter. Truist Financial Corp now owns 6,614 shares of the company's stock valued at $987,000 after buying an additional 1,972 shares during the period. HB Wealth Management LLC purchased a new stake in shares of Mr. Cooper Group in the 2nd quarter valued at approximately $314,000. Sage Rhino Capital LLC grew its stake in shares of Mr. Cooper Group by 29.8% in the 2nd quarter. Sage Rhino Capital LLC now owns 2,838 shares of the company's stock valued at $423,000 after buying an additional 651 shares during the period. Finally, State of Alaska Department of Revenue grew its stake in shares of Mr. Cooper Group by 8.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 38,097 shares of the company's stock valued at $5,683,000 after buying an additional 2,853 shares during the period. Institutional investors and hedge funds own 89.82% of the company's stock.

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.

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