Mr. Cooper Group (NASDAQ:COOP) Sets New 12-Month High - Time to Buy?

Mr. Cooper Group Inc. (NASDAQ:COOP - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $142.98 and last traded at $142.78, with a volume of 1437524 shares trading hands. The stock had previously closed at $135.45.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. UBS Group raised their price objective on shares of Mr. Cooper Group from $135.00 to $145.00 and gave the stock a "buy" rating in a report on Wednesday, April 16th. Citizens Jmp downgraded shares of Mr. Cooper Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 1st. Barclays raised their price objective on shares of Mr. Cooper Group from $130.00 to $147.00 and gave the stock an "overweight" rating in a report on Tuesday, April 8th. Piper Sandler downgraded shares of Mr. Cooper Group from an "overweight" rating to a "neutral" rating and raised their price objective for the stock from $125.00 to $143.00 in a report on Friday, April 4th. Finally, 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 report on Tuesday, April 8th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $131.14.

Mr. Cooper Group Stock Down 2.3%

The firm has a market cap of $9.15 billion, a PE ratio of 14.06, a P/E/G ratio of 0.32 and a beta of 1.03. The firm's fifty day simple moving average is $123.25 and its two-hundred day simple moving average is $110.53.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.81 by $0.16. The firm had revenue of $560.00 million for the quarter, compared to analysts' expectations of $620.57 million. Mr. Cooper Group had a net margin of 30.07% and a return on equity of 14.76%. The company's revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter last year, the business posted $2.73 earnings per share. As a group, analysts anticipate that Mr. Cooper Group Inc. will post 13.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mr. Cooper Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. KLP Kapitalforvaltning AS bought a new stake in Mr. Cooper Group in the fourth quarter worth $1,603,000. Jefferies Financial Group Inc. bought a new stake in Mr. Cooper Group in the fourth quarter worth $394,000. Park Avenue Securities LLC bought a new stake in Mr. Cooper Group in the first quarter worth $1,684,000. Assenagon Asset Management S.A. increased its position in Mr. Cooper Group by 13.9% in the first quarter. Assenagon Asset Management S.A. now owns 1,057,176 shares of the company's stock worth $126,438,000 after purchasing an additional 129,414 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Mr. Cooper Group by 15.5% in the fourth quarter. JPMorgan Chase & Co. now owns 644,159 shares of the company's stock worth $61,846,000 after purchasing an additional 86,510 shares during the last quarter. 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.