Mr. Cooper Group (NASDAQ:COOP) Hits New 1-Year High on Analyst Upgrade

Mr. Cooper Group Inc. (NASDAQ:COOP - Get Free Report) reached a new 52-week high during trading on Monday after Jefferies Financial Group raised their price target on the stock from $74.00 to $80.00. Jefferies Financial Group currently has a hold rating on the stock. Mr. Cooper Group traded as high as $78.62 and last traded at $78.07, with a volume of 362119 shares. The stock had previously closed at $77.55.

COOP has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Mr. Cooper Group in a research report on Wednesday, January 10th. They set a "buy" rating and a $88.00 price objective on the stock. Barclays boosted their price target on shares of Mr. Cooper Group from $80.00 to $85.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 9th. Keefe, Bruyette & Woods increased their price objective on shares of Mr. Cooper Group from $83.00 to $86.00 and gave the company an "outperform" rating in a report on Tuesday, April 9th. Finally, Wedbush lifted their target price on Mr. Cooper Group from $80.00 to $85.00 and gave the stock an "outperform" rating in a report on Monday, February 12th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Mr. Cooper Group currently has an average rating of "Moderate Buy" and a consensus target price of $78.67.

Insider Activity

In related news, CEO Jesse K. Bray sold 25,000 shares of Mr. Cooper Group stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $67.56, for a total value of $1,689,000.00. Following the completion of the transaction, the chief executive officer now owns 391,051 shares in the company, valued at $26,419,405.56. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Jesse K. Bray sold 25,000 shares of the firm's stock in a transaction on Monday, January 29th. The stock was sold at an average price of $67.56, for a total value of $1,689,000.00. Following the completion of the sale, the chief executive officer now directly owns 391,051 shares in the company, valued at $26,419,405.56. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Michael S. Weinbach acquired 17,000 shares of the company's stock in a transaction on Tuesday, February 13th. The shares were purchased at an average cost of $71.16 per share, with a total value of $1,209,720.00. Following the completion of the purchase, the president now directly owns 17,000 shares of the company's stock, valued at $1,209,720. The disclosure for this purchase can be found here. In the last three months, insiders have sold 75,000 shares of company stock worth $5,431,500. 2.33% of the stock is currently owned by corporate insiders.

Institutional Trading of Mr. Cooper Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. USA Financial Formulas bought a new position in shares of Mr. Cooper Group during the fourth quarter valued at approximately $25,000. GAMMA Investing LLC purchased a new position in Mr. Cooper Group during the 4th quarter valued at $61,000. Quest Partners LLC bought a new position in Mr. Cooper Group in the 4th quarter valued at $61,000. Centaurus Financial Inc. purchased a new stake in Mr. Cooper Group in the fourth quarter worth $101,000. Finally, Headlands Technologies LLC lifted its position in shares of Mr. Cooper Group by 637.1% during the fourth quarter. Headlands Technologies LLC now owns 1,651 shares of the company's stock worth $108,000 after purchasing an additional 1,427 shares during the last quarter. 89.82% of the stock is owned by hedge funds and other institutional investors.

Mr. Cooper Group Price Performance

The firm has a 50-day moving average price of $74.58 and a two-hundred day moving average price of $66.11. The firm has a market capitalization of $5.09 billion, a P/E ratio of 10.63 and a beta of 1.38.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last announced its quarterly earnings data on Friday, February 9th. The company reported $1.71 earnings per share for the quarter, beating analysts' consensus estimates of $1.37 by $0.34. The company had revenue of $404.00 million during the quarter, compared to analyst estimates of $398.31 million. Mr. Cooper Group had a net margin of 27.87% and a return on equity of 12.01%. Sell-side analysts predict that Mr. Cooper Group Inc. will post 9.01 earnings per share for the current fiscal year.

Mr. Cooper Group Company Profile

Mr. Cooper Group Inc engages in non-banking services for mortgage loans the United States. The company operates through Servicing and Originations segments. The Servicing segment performs activities for underlying mortgages, including collecting and disbursing borrower payments, investor reporting, customer service, and modifying loans.