Mr. Cooper Group (NASDAQ:COOP) Sets New 52-Week High - Here's Why

Mr. Cooper Group Inc. (NASDAQ:COOP - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $103.42 and last traded at $103.17, with a volume of 65814 shares traded. The stock had previously closed at $101.44.

Analyst Ratings Changes

COOP has been the subject of several analyst reports. Compass Point boosted their price target on Mr. Cooper Group from $97.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, October 24th. Barclays upped their target price on Mr. Cooper Group from $103.00 to $108.00 and gave the company an "overweight" rating in a research note on Tuesday, October 8th. JMP Securities started coverage on Mr. Cooper Group in a research note on Tuesday. They issued an "outperform" rating and a $115.00 price target on the stock. Wedbush reaffirmed an "outperform" rating and set a $115.00 price objective on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Finally, Citizens Jmp upgraded shares of Mr. Cooper Group to a "strong-buy" rating in a report on Tuesday. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Mr. Cooper Group has a consensus rating of "Moderate Buy" and a consensus target price of $102.38.

Mr. Cooper Group Stock Performance

The stock has a fifty day moving average price of $96.59 and a 200-day moving average price of $92.27. The firm has a market cap of $6.63 billion, a PE ratio of 13.40, a PEG ratio of 0.27 and a beta of 1.43.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.30. The company had revenue of $616.00 million during the quarter, compared to the consensus estimate of $548.09 million. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%. Mr. Cooper Group's revenue for the quarter was up 32.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.79 earnings per share. As a group, equities analysts predict that Mr. Cooper Group Inc. will post 10.18 earnings per share for the current fiscal year.

Insider Activity

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were 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 in the company, valued at $71,700,996.29. The trade was a 3.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 90,000 shares of company stock worth $8,414,400. 2.33% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. FMR LLC raised its position in shares of 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 purchasing an additional 145,767 shares in the last quarter. Basswood Capital Management L.L.C. grew its stake in Mr. Cooper Group by 36.6% in the third quarter. Basswood Capital Management L.L.C. now owns 496,243 shares of the company's stock worth $45,744,000 after purchasing an additional 132,970 shares in the last quarter. Assenagon Asset Management S.A. increased 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 buying an additional 125,055 shares during the last quarter. Barclays PLC lifted 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 buying an additional 87,712 shares during the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in shares of Mr. Cooper Group by 746.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 66,753 shares of the company's stock worth $5,422,000 after acquiring an additional 58,867 shares in the last quarter. Institutional investors and hedge funds own 89.82% of the company's stock.

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.