Mr. Cooper Group (NASDAQ:COOP) Sets New 1-Year High - What's Next?

Key Points

• Mr. Cooper Group's stock price achieved a new 52-week high of $203.42 during trading, closing at $202.86 with a total volume of over 1.3 million shares.
• Analysts have raised their price targets for Mr. Cooper Group, with Piper Sandler increasing their target to $158.00 and Barclays to $156.00, reflecting mixed views yet a general consensus rating of "Hold."
• The company reported quarterly earnings of $3.13 per share, missing the expected $3.28, while revenue for the quarter was $608 million, below the anticipated $669.23 million.

Mr. Cooper Group Inc (NASDAQ:COOP - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $203.42 and last traded at $202.86, with a volume of 1302658 shares traded. The stock had previously closed at $191.75.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Piper Sandler upped their price objective on Mr. Cooper Group from $143.00 to $158.00 and gave the stock a "neutral" rating in a report on Tuesday, July 1st. Barclays upped their price objective on Mr. Cooper Group from $147.00 to $156.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Jefferies Financial Group upped their price objective on Mr. Cooper Group from $110.00 to $150.00 and gave the stock a "hold" rating in a report on Tuesday, July 22nd. Finally, UBS Group set a $176.00 price objective on Mr. Cooper Group in a report on Tuesday, August 5th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $140.38.

Mr. Cooper Group Trading Up 5.8%

The stock has a 50 day moving average price of $155.78 and a two-hundred day moving average price of $128.72. The company has a market cap of $12.98 billion, a price-to-earnings ratio of 23.21 and a beta of 0.98.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last posted 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 net margin of 25.38% and a return on equity of 15.66%. The business's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period last year, the company earned $3.10 EPS. On average, equities analysts forecast that Mr. Cooper Group Inc will post 13.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group 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 transaction, the chief executive officer directly owned 663,187 shares in the company, valued at approximately $115,872,032.64. The trade was 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 link. Corporate insiders own 1.73% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC bought a new position in Mr. Cooper Group during the second quarter worth about $25,000. First Horizon Advisors Inc. bought a new position in Mr. Cooper Group during the first quarter worth about $26,000. AlphaQuest LLC lifted its holdings in Mr. Cooper Group by 88.0% during the second quarter. AlphaQuest LLC now owns 188 shares of the company's stock worth $28,000 after acquiring an additional 88 shares in the last quarter. MAI Capital Management bought a new position in Mr. Cooper Group during the second quarter worth about $33,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in shares of Mr. Cooper Group in the second quarter valued at about $45,000. 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.

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