Mr. Cooper Group (NASDAQ:COOP) Sets New 12-Month High - Here's Why

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) 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. The stock had previously closed at $191.75.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Jefferies Financial Group raised their price objective on shares of Mr. Cooper Group from $110.00 to $150.00 and gave the stock a "hold" rating in a research note on Tuesday, July 22nd. Barclays lifted their price target on 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 increased 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. Finally, UBS Group set a $176.00 target price on Mr. Cooper Group in a research note on Tuesday, August 5th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $140.38.

Mr. Cooper Group Stock Down 2.9%

The company has a market cap of $11.88 billion, a P/E ratio of 21.25 and a beta of 0.98. The firm has a fifty day moving average price of $158.21 and a 200 day moving average price of $130.24.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last announced 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). Mr. Cooper Group had a net margin of 25.38% and a return on equity of 15.66%. The firm had revenue of $608.00 million during the quarter, compared to analyst estimates of $669.23 million. During the same quarter in the prior year, the business earned $3.10 earnings per share. The business's revenue was up 8.6% on a year-over-year basis. On average, sell-side analysts anticipate 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 stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer directly owned 663,187 shares of the company's stock, valued at approximately $115,872,032.64. This represents a 4.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Envestnet Asset Management Inc. increased its position in Mr. Cooper Group by 9.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 24,793 shares of the company's stock worth $2,380,000 after buying an additional 2,199 shares during the period. Cerity Partners LLC acquired a new stake in shares of Mr. Cooper Group in the fourth quarter valued at approximately $430,000. Bank of Montreal Can boosted its stake in shares of Mr. Cooper Group by 10.1% in the fourth quarter. Bank of Montreal Can now owns 9,649 shares of the company's stock valued at $926,000 after buying an additional 889 shares during the period. Raymond James Financial Inc. acquired a new stake in Mr. Cooper Group during the fourth quarter worth approximately $4,081,000. Finally, Jump Financial LLC increased its stake in Mr. Cooper Group by 29.0% during the 4th quarter. Jump Financial LLC now owns 4,000 shares of the company's stock worth $384,000 after acquiring an additional 900 shares during the period. Institutional investors own 89.82% of the company's stock.

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.