Mr. Cooper Group (NASDAQ:COOP) Trading 7.8% Higher - Here's Why

Mr. Cooper Group Inc. (NASDAQ:COOP - Get Free Report) shares shot up 7.8% on Wednesday . The stock traded as high as $134.94 and last traded at $134.90. 265,922 shares were traded during trading, a decline of 48% from the average session volume of 508,225 shares. The stock had previously closed at $125.08.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on COOP. Piper Sandler cut Mr. Cooper Group from an "overweight" rating to a "neutral" rating and upped their price objective for the company from $125.00 to $143.00 in a research report on Friday. UBS Group upped their price target on Mr. Cooper Group from $122.00 to $135.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Citizens Jmp cut Mr. Cooper Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. 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 research report on Thursday, February 13th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $115.00 price target on shares of Mr. Cooper Group in a report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Mr. Cooper Group currently has an average rating of "Moderate Buy" and a consensus target price of $114.78.

Mr. Cooper Group Trading Up 0.8 %

The stock has a 50 day simple moving average of $108.62 and a 200-day simple moving average of $99.90. The firm has a market capitalization of $8.54 billion, a P/E ratio of 13.18, a P/E/G ratio of 0.32 and a beta of 1.17.

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Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $2.73 EPS for the quarter, beating 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%. As a group, sell-side analysts expect that Mr. Cooper Group Inc. will post 13.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the company's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $112.24, for a total value of $3,367,200.00. Following the completion of the sale, the chief executive officer now owns 698,821 shares in the company, valued at $78,435,669.04. This represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Picton Mahoney Asset Management raised its stake in Mr. Cooper Group by 41.3% during the 4th quarter. Picton Mahoney Asset Management now owns 325 shares of the company's stock worth $31,000 after acquiring an additional 95 shares during the period. Asset Planning Inc purchased a new stake in shares of Mr. Cooper Group in the fourth quarter worth $48,000. ORG Partners LLC bought a new stake in shares of Mr. Cooper Group during the 4th quarter valued at $51,000. Kapitalo Investimentos Ltda purchased a new position in shares of Mr. Cooper Group during the 4th quarter valued at $70,000. Finally, Covestor Ltd boosted its holdings in Mr. Cooper Group by 418.9% in the 4th quarter. Covestor Ltd now owns 742 shares of the company's stock worth $71,000 after buying an additional 599 shares during the period. 89.82% of the stock is owned by hedge funds and other 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.