Wedbush Comments on Mr. Cooper Group Inc.'s Q3 2024 Earnings (NASDAQ:COOP)

Mr. Cooper Group Inc. (NASDAQ:COOP - Free Report) - Analysts at Wedbush upped their Q3 2024 earnings per share (EPS) estimates for Mr. Cooper Group in a research report issued on Thursday, April 25th. Wedbush analyst J. Mccanless now anticipates that the company will post earnings per share of $2.47 for the quarter, up from their prior estimate of $2.29. Wedbush currently has a "Outperform" rating and a $100.00 target price on the stock. The consensus estimate for Mr. Cooper Group's current full-year earnings is $9.01 per share. Wedbush also issued estimates for Mr. Cooper Group's Q4 2024 earnings at $2.27 EPS, Q1 2025 earnings at $2.56 EPS, Q2 2025 earnings at $2.84 EPS, Q3 2025 earnings at $2.95 EPS, Q4 2025 earnings at $2.95 EPS and FY2025 earnings at $11.30 EPS.

Other analysts have also issued reports about the company. Jefferies Financial Group boosted their target price on Mr. Cooper Group from $74.00 to $80.00 and gave the company a "hold" rating in a research report on Friday, April 19th. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $92.00 price objective (up from $86.00) on shares of Mr. Cooper Group in a research note on Thursday. Deutsche Bank Aktiengesellschaft increased their price target on Mr. Cooper Group from $88.00 to $90.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Barclays increased their price target on Mr. Cooper Group from $85.00 to $94.00 and gave the company an "overweight" rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $82.22.

Mr. Cooper Group Stock Performance

Shares of NASDAQ:COOP traded down $0.03 during midday trading on Friday, reaching $78.73. The company's stock had a trading volume of 369,381 shares, compared to its average volume of 482,885. The firm has a market capitalization of $5.14 billion, a price-to-earnings ratio of 8.24 and a beta of 1.38. The firm has a 50 day moving average price of $74.98 and a two-hundred day moving average price of $66.48. Mr. Cooper Group has a fifty-two week low of $41.74 and a fifty-two week high of $81.98.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last announced its earnings results on Wednesday, April 24th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.11 by $0.17. The firm had revenue of $564.00 million for the quarter, compared to the consensus estimate of $498.15 million. Mr. Cooper Group had a return on equity of 13.31% and a net margin of 31.75%.

Hedge Funds Weigh In On Mr. Cooper Group

Hedge funds have recently bought and sold shares of the business. Exchange Traded Concepts LLC lifted its holdings in shares of Mr. Cooper Group by 1.4% in the 4th quarter. Exchange Traded Concepts LLC now owns 12,642 shares of the company's stock worth $823,000 after buying an additional 180 shares during the period. GAMMA Investing LLC increased its position in Mr. Cooper Group by 20.6% during the 1st quarter. GAMMA Investing LLC now owns 1,085 shares of the company's stock valued at $85,000 after buying an additional 185 shares in the last quarter. Arizona State Retirement System increased its position in Mr. Cooper Group by 1.5% during the 4th quarter. Arizona State Retirement System now owns 18,688 shares of the company's stock valued at $1,217,000 after buying an additional 279 shares in the last quarter. Assetmark Inc. increased its position in Mr. Cooper Group by 3.2% during the 4th quarter. Assetmark Inc. now owns 9,736 shares of the company's stock valued at $634,000 after buying an additional 299 shares in the last quarter. Finally, AlphaMark Advisors LLC increased its position in Mr. Cooper Group by 6.9% during the 1st quarter. AlphaMark Advisors LLC now owns 4,675 shares of the company's stock valued at $364,000 after buying an additional 301 shares in the last quarter. Institutional investors own 89.82% of the company's stock.

Insider Buying and Selling at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 25,000 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 391,051 shares of the company's stock, valued at approximately $26,419,405.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, President Michael S. Weinbach bought 17,000 shares of the business's stock in a transaction dated Tuesday, February 13th. The shares were purchased at an average price of $71.16 per share, with a total value of $1,209,720.00. Following the transaction, the president now owns 17,000 shares in the company, valued at approximately $1,209,720. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jesse K. Bray sold 25,000 shares of the business's stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $67.56, for a total value of $1,689,000.00. Following the transaction, the chief executive officer now directly owns 391,051 shares in the company, valued at approximately $26,419,405.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,000 shares of company stock worth $5,431,500. Insiders own 2.33% of the company's stock.

About Mr. Cooper Group

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.