Mr. Cooper Group (NASDAQ:COOP) Sees Large Volume Increase on Analyst Upgrade

Mr. Cooper Group Inc (NASDAQ:COOP - Get Free Report) saw unusually-strong trading volume on Wednesday after Jefferies Financial Group raised their price target on the stock from $110.00 to $150.00. Jefferies Financial Group currently has a hold rating on the stock. Approximately 1,051,894 shares were traded during trading, an increase of 40% from the previous session's volume of 748,791 shares.The stock last traded at $166.36 and had previously closed at $169.12.

Other equities research analysts have also issued research reports about the company. Citizens Jmp lowered 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 objective on Mr. Cooper Group from $143.00 to $158.00 and gave the company 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 company a "market perform" rating in a research note on Tuesday, April 8th. Barclays lifted their price objective on Mr. Cooper Group from $147.00 to $156.00 and gave the company an "overweight" rating in a research note 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 research note on Tuesday, July 15th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $137.88.

Insider Transactions at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $152.14, for a total value of $4,564,200.00. Following the transaction, the chief executive officer owned 693,187 shares in the company, valued at approximately $105,461,470.18. The trade was a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.73% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. First Horizon Advisors Inc. purchased a new position in shares of Mr. Cooper Group during the 1st quarter worth approximately $26,000. Allworth Financial LP grew its stake 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 buying an additional 87 shares during the last quarter. USA Financial Formulas purchased a new stake in shares of Mr. Cooper Group in the 1st quarter worth approximately $55,000. SVB Wealth LLC purchased a new stake in shares of Mr. Cooper Group in the 1st quarter worth approximately $62,000. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Mr. Cooper Group in the 4th quarter worth approximately $70,000. Hedge funds and other institutional investors own 89.82% of the company's stock.

Mr. Cooper Group Trading Up 0.5%

The company has a market cap of $10.05 billion, a PE ratio of 17.98, a P/E/G ratio of 0.51 and a beta of 1.05. The firm has a 50 day moving average of $142.53 and a two-hundred day moving average of $120.87.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $3.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.28 by ($0.15). The business 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 was up 8.6% compared to the same quarter last year. During the same period last year, the company posted $3.10 earnings per share. On average, research analysts forecast that Mr. Cooper Group Inc will post 13.17 EPS for the current year.

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.