Mr. Cooper Group (NASDAQ:COOP) Rating Lowered to Neutral at Piper Sandler

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) was downgraded by stock analysts at Piper Sandler from an "overweight" rating to a "neutral" rating in a research note issued on Friday, Marketbeat Ratings reports. They presently have a $143.00 price objective on the stock, up from their prior price objective of $125.00. Piper Sandler's price target indicates a potential upside of 10.78% from the stock's current price.

A number of other equities analysts have also issued reports on the stock. Citizens Jmp lowered shares of Mr. Cooper Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 1st. Barclays lifted their target price on Mr. Cooper Group from $111.00 to $130.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Keefe, Bruyette & Woods lifted their price objective on shares of Mr. Cooper Group from $105.00 to $115.00 and gave the stock a "market perform" rating in a research report on Thursday, February 13th. JMP Securities reiterated a "market outperform" rating and issued a $115.00 target price on shares of Mr. Cooper Group in a report on Thursday, February 13th. Finally, UBS Group increased their price objective on Mr. Cooper Group from $122.00 to $135.00 and gave the stock a "buy" rating in a report on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $114.78.

Remove Ads

Mr. Cooper Group Stock Down 3.8 %

Shares of COOP stock traded down $5.12 during mid-day trading on Friday, reaching $129.09. The company's stock had a trading volume of 2,372,901 shares, compared to its average volume of 538,407. The firm has a market capitalization of $8.21 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 0.32 and a beta of 1.17. Mr. Cooper Group has a 12-month low of $74.49 and a 12-month high of $137.60. The company's 50 day simple moving average is $108.62 and its 200-day simple moving average is $99.98.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $2.73 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.08. Mr. Cooper Group had a net margin of 30.07% and a return on equity of 14.76%. As a group, research analysts anticipate that Mr. Cooper Group will post 13.17 EPS for the current fiscal year.

Insider Activity

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $112.24, for a total value of $3,367,200.00. Following the transaction, the chief executive officer now directly owns 698,821 shares of the company's stock, valued at $78,435,669.04. This trade represents a 4.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.33% of the stock is currently owned by company insiders.

Institutional Trading of Mr. Cooper Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC grew its position in shares of Mr. Cooper Group by 14,148.0% in the 1st quarter. GAMMA Investing LLC now owns 311,319 shares of the company's stock valued at $37,234,000 after buying an additional 309,134 shares during the last quarter. Penbrook Management LLC grew its position in shares of Mr. Cooper Group by 0.6% during the 1st quarter. Penbrook Management LLC now owns 15,825 shares of the company's stock worth $1,893,000 after buying an additional 100 shares during the period. Copia Wealth Management bought a new stake in Mr. Cooper Group in the fourth quarter valued at $292,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Mr. Cooper Group during the 4th quarter worth approximately $5,409,000. Finally, Jefferies Financial Group Inc. bought a new position in Mr. Cooper Group in the fourth quarter worth approximately $394,000. 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.