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

Key Points

• Mr. Cooper Group's stock reached a new 52-week high at $180.57 and last traded at $174.26, reflecting significant investor interest with over 2 million shares traded.
• Analysts have positive forecasts, with price target upgrades from several firms, leading to an average consensus price target of $137.88 and many analysts rating the stock as a "hold."
• CEO Jesse K. Bray sold 30,000 shares at an average price of $152.14, indicating a decrease in ownership of about 4.15% despite overall institutional ownership remaining high at nearly 90%.

Mr. Cooper Group Inc (NASDAQ:COOP - Get Free Report)'s share price hit a new 52-week high during trading on Saturday . The company traded as high as $180.57 and last traded at $174.26, with a volume of 2062294 shares. The stock had previously closed at $155.72.

Analysts Set New Price Targets

A number of equities research analysts recently commented on COOP shares. Barclays lifted their price objective on Mr. Cooper Group from $147.00 to $156.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Piper Sandler lifted their price objective on Mr. Cooper Group from $143.00 to $158.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 1st. Keefe, Bruyette & Woods lifted their price objective on 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. Jefferies Financial Group lifted their price objective on Mr. Cooper Group from $110.00 to $150.00 and gave the stock a "hold" rating in a research note on Tuesday, July 22nd. Finally, UBS Group set a $176.00 target price on Mr. Cooper Group in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $140.38.

Mr. Cooper Group Stock Up 0.7%

The company has a market capitalization of $12.21 billion, a P/E ratio of 21.83 and a beta of 0.98. The business has a fifty day moving average price of $148.87 and a 200 day moving average price of $125.36.

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

Insider Transactions at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 30,000 shares of the company's stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $174.72, for a total transaction of $5,241,600.00. Following the sale, the chief executive officer owned 663,187 shares in the company, valued at approximately $115,872,032.64. This represents a 4.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.33% of the company's stock.

Hedge Funds Weigh In On Mr. Cooper Group

Several institutional investors and hedge funds have recently made changes to their positions in COOP. LPL Financial LLC grew its position in Mr. Cooper Group by 3.3% during the fourth quarter. LPL Financial LLC now owns 14,957 shares of the company's stock worth $1,436,000 after buying an additional 472 shares in the last quarter. National Bank of Canada FI bought a new stake in Mr. Cooper Group during the fourth quarter worth $78,000. Arete Wealth Advisors LLC bought a new position in shares of Mr. Cooper Group in the 4th quarter valued at $224,000. Wells Fargo & Company MN lifted its stake in shares of Mr. Cooper Group by 8.7% in the 4th quarter. Wells Fargo & Company MN now owns 82,452 shares of the company's stock valued at $7,916,000 after acquiring an additional 6,588 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC bought a new position in shares of Mr. Cooper Group in the 4th quarter valued at $502,000. 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.