Mr. Cooper Group (NASDAQ:COOP) Hits New 12-Month High After Earnings Beat

Mr. Cooper Group Inc. (NASDAQ:COOP - Get Free Report) reached a new 52-week high on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $108.56 and last traded at $106.71, with a volume of 873322 shares. The stock had previously closed at $107.32.

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 return on equity of 13.77% and a net margin of 25.87%.

Analyst Ratings Changes

Several equities research analysts have commented on COOP shares. Keefe, Bruyette & Woods boosted their target price on Mr. Cooper Group from $105.00 to $115.00 and gave the stock a "market perform" rating in a report on Thursday. Piper Sandler boosted their target price on Mr. Cooper Group from $113.00 to $120.00 and gave the stock an "overweight" rating in a report on Wednesday, January 22nd. Barclays boosted 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. Wedbush reaffirmed an "outperform" rating and set a $115.00 price target on shares of Mr. Cooper Group in a report on Thursday, October 24th. Finally, Compass Point upped 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. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $109.38.

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Insider Activity at Mr. Cooper Group

In related 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 transaction 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. This represents a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.33% of the stock is owned by company insiders.

Institutional Trading of Mr. Cooper Group

Hedge funds have recently bought and sold shares of the company. Picton Mahoney Asset Management increased its position in Mr. Cooper Group by 41.3% during the fourth quarter. Picton Mahoney Asset Management now owns 325 shares of the company's stock valued at $31,000 after acquiring an additional 95 shares during the last quarter. Financial Management Professionals Inc. purchased a new stake in Mr. Cooper Group in the third quarter worth about $30,000. Harvest Fund Management Co. Ltd increased its position in Mr. Cooper Group by 152.5% in the third quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company's stock worth $41,000 after buying an additional 270 shares in the last quarter. Asset Planning Inc purchased a new stake in Mr. Cooper Group in the fourth quarter worth about $48,000. Finally, ORG Partners LLC purchased a new stake in Mr. Cooper Group in the fourth quarter worth about $51,000. Hedge funds and other institutional investors own 89.82% of the company's stock.

Mr. Cooper Group Price Performance

The business has a 50-day simple moving average of $99.48 and a 200 day simple moving average of $95.06. The firm has a market cap of $6.90 billion, a PE ratio of 13.94, a PEG ratio of 0.31 and a beta of 1.43.

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.