Mr. Cooper Group (NASDAQ:COOP) Coverage Initiated at JMP Securities

JMP Securities started coverage on shares of Mr. Cooper Group (NASDAQ:COOP - Free Report) in a report released on Tuesday, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $115.00 price target on the stock.

A number of other brokerages also recently issued reports on COOP. Compass Point upped their price target on Mr. Cooper Group from $97.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Wedbush reaffirmed an "outperform" rating and issued a $115.00 price objective on shares of Mr. Cooper Group in a report on Thursday, October 24th. Finally, Barclays increased their price target on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $102.38.

Mr. Cooper Group Price Performance

Shares of COOP traded up $4.29 during mid-day trading on Tuesday, reaching $96.54. 340,194 shares of the company's stock traded hands, compared to its average volume of 440,941. The stock's 50-day moving average is $96.33 and its two-hundred day moving average is $91.88. The stock has a market cap of $6.18 billion, a P/E ratio of 12.47 and a beta of 1.43. Mr. Cooper Group has a 12 month low of $61.38 and a 12 month high of $103.05.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.30. The business had revenue of $616.00 million during the quarter, compared to analysts' expectations of $548.09 million. Mr. Cooper Group had a return on equity of 13.77% and a net margin of 25.87%. The business's revenue for the quarter was up 32.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.79 EPS. Research analysts predict that Mr. Cooper Group will post 10.16 earnings per share for the current year.

Insider Transactions at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $94.49, for a total value of $2,834,700.00. Following the transaction, the chief executive officer now owns 758,821 shares of the company's stock, valued at $71,700,996.29. This represents a 3.80 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 90,000 shares of company stock valued at $8,414,400. Corporate insiders own 2.33% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. FMR LLC boosted its position in Mr. Cooper Group by 42.9% in the 3rd quarter. FMR LLC now owns 485,907 shares of the company's stock valued at $44,791,000 after buying an additional 145,767 shares during the period. Basswood Capital Management L.L.C. boosted its stake in shares of Mr. Cooper Group by 36.6% in the 3rd quarter. Basswood Capital Management L.L.C. now owns 496,243 shares of the company's stock valued at $45,744,000 after buying an additional 132,970 shares during the period. Assenagon Asset Management S.A. raised its holdings in Mr. Cooper Group by 11.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,247,434 shares of the company's stock valued at $114,988,000 after acquiring an additional 125,055 shares in the last quarter. Edgestream Partners L.P. purchased a new position in Mr. Cooper Group in the second quarter worth approximately $8,224,000. Finally, Barclays PLC grew its holdings in Mr. Cooper Group by 198.0% during the 3rd quarter. Barclays PLC now owns 132,017 shares of the company's stock worth $12,170,000 after acquiring an additional 87,712 shares in the last quarter. 89.82% of the stock is currently owned by institutional investors and hedge funds.

About Mr. Cooper Group

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.