Piper Sandler Forecasts Strong Price Appreciation for Mr. Cooper Group (NASDAQ:COOP) Stock

Mr. Cooper Group (NASDAQ:COOP - Free Report) had its price target raised by Piper Sandler from $113.00 to $120.00 in a report released on Wednesday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other equities analysts have also recently commented on COOP. Citizens Jmp raised Mr. Cooper Group to a "strong-buy" rating in a research note on Tuesday, January 14th. Wedbush restated an "outperform" rating and issued a $115.00 target price on shares of Mr. Cooper Group in a report on Thursday, October 24th. JMP Securities initiated coverage on shares of Mr. Cooper Group in a research report on Tuesday, January 14th. They set an "outperform" rating and a $115.00 price target for the company. Compass Point raised their price target on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. Finally, Barclays boosted their price objective on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the company an "overweight" rating in a research report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $104.13.

Mr. Cooper Group Trading Down 0.2 %

Shares of COOP traded down $0.17 during mid-day trading on Wednesday, reaching $102.64. The company's stock had a trading volume of 587,279 shares, compared to its average volume of 488,121. Mr. Cooper Group has a 52 week low of $64.35 and a 52 week high of $105.00. The stock has a market cap of $6.57 billion, a PE ratio of 13.26, a P/E/G ratio of 0.30 and a beta of 1.43. The company's fifty day moving average price is $96.77 and its two-hundred day moving average price is $92.82.

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

Insider Activity at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the business's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $88.41, for a total transaction of $2,652,300.00. Following the sale, the chief executive officer now owns 818,821 shares in the company, valued at approximately $72,391,964.61. The trade was a 3.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 90,000 shares of company stock worth $8,414,400 over the last 90 days. 2.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. State Street Corp grew its holdings in Mr. Cooper Group by 1.9% in the third quarter. State Street Corp now owns 2,726,946 shares of the company's stock worth $251,370,000 after purchasing an additional 51,667 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Mr. Cooper Group by 11.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,247,434 shares of the company's stock worth $114,988,000 after purchasing an additional 125,055 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Mr. Cooper Group by 6.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 916,365 shares of the company's stock worth $84,471,000 after buying an additional 52,001 shares during the last quarter. Basswood Capital Management L.L.C. increased its position in Mr. Cooper Group by 36.6% during the 3rd quarter. Basswood Capital Management L.L.C. now owns 496,243 shares of the company's stock valued at $45,744,000 after buying an additional 132,970 shares in the last quarter. Finally, FMR LLC raised its stake in Mr. Cooper Group by 42.9% during the third quarter. FMR LLC now owns 485,907 shares of the company's stock valued at $44,791,000 after buying an additional 145,767 shares during the last quarter. 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.