Mr. Cooper Group (NASDAQ:COOP) Hits New 12-Month High - Time to Buy?

Mr. Cooper Group Inc. (NASDAQ:COOP - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $110.69 and last traded at $110.03, with a volume of 27913 shares trading hands. The stock had previously closed at $109.15.

Analysts Set New Price Targets

COOP has been the subject of a number of recent research reports. Barclays lifted their price objective on shares of Mr. Cooper Group from $111.00 to $130.00 and gave the stock an "overweight" rating in a research note on Thursday, February 13th. Piper Sandler lifted their price target on Mr. Cooper Group from $113.00 to $120.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 22nd. JMP Securities reissued a "market outperform" rating and set a $115.00 price objective on shares of Mr. Cooper Group in a research note on Thursday, February 13th. Keefe, Bruyette & Woods raised their price objective on Mr. Cooper Group from $105.00 to $115.00 and gave the company a "market perform" rating in a research note on Thursday, February 13th. Finally, UBS Group boosted their target price on Mr. Cooper Group from $122.00 to $135.00 and gave the company a "buy" rating in a research report on Tuesday, February 18th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $112.22.

Mr. Cooper Group Trading Up 1.2 %

The company has a 50-day simple moving average of $101.01 and a 200 day simple moving average of $96.08. The company has a market cap of $7.06 billion, a P/E ratio of 10.91, a P/E/G ratio of 0.32 and a beta of 1.43.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $2.73 EPS for the quarter, topping analysts' consensus estimates of $2.65 by $0.08. Mr. Cooper Group had a net margin of 30.07% and a return on equity of 14.76%. On average, equities analysts forecast that Mr. Cooper Group Inc. will post 13.17 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jesse K. Bray sold 30,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 758,821 shares in the company, valued at approximately $71,700,996.29. The trade was a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.33% of the company's stock.

Institutional Investors Weigh In On Mr. Cooper Group

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Integrated Advisors Network LLC purchased a new position in shares of Mr. Cooper Group during the fourth quarter valued at $322,000. Vise Technologies Inc. grew its holdings in Mr. Cooper Group by 8.7% during the 4th quarter. Vise Technologies Inc. now owns 3,643 shares of the company's stock worth $350,000 after acquiring an additional 292 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Mr. Cooper Group by 20.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 125,577 shares of the company's stock valued at $12,057,000 after purchasing an additional 21,173 shares during the period. iSAM Funds UK Ltd bought a new stake in shares of Mr. Cooper Group in the 4th quarter valued at about $475,000. Finally, Tidal Investments LLC lifted its position in shares of Mr. Cooper Group by 4.6% in the 4th quarter. Tidal Investments LLC now owns 27,914 shares of the company's stock worth $2,680,000 after purchasing an additional 1,236 shares during the period. 89.82% of the stock is owned by institutional investors.

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.