Mr. Cooper Group (NASDAQ:COOP) Trading Down 4.1% - What's Next?

Mr. Cooper Group Inc. (NASDAQ:COOP - Get Free Report)'s stock price traded down 4.1% during trading on Wednesday . The company traded as low as $86.88 and last traded at $87.36. 128,444 shares were traded during mid-day trading, a decline of 71% from the average session volume of 436,108 shares. The stock had previously closed at $91.06.

Analysts Set New Price Targets

A number of brokerages have issued reports on COOP. Wedbush upped their price objective on Mr. Cooper Group from $100.00 to $115.00 and gave the company an "outperform" rating in a research report on Friday, July 26th. Barclays upped their price target on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the company an "overweight" rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods downgraded shares of Mr. Cooper Group from an "outperform" rating to a "market perform" rating and set a $95.00 price objective for the company. in a research note on Monday, July 22nd. Finally, Piper Sandler boosted their target price on Mr. Cooper Group from $91.00 to $106.00 and gave the company an "overweight" rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Mr. Cooper Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.29.

Mr. Cooper Group Stock Performance

The firm has a fifty day simple moving average of $92.07 and a 200 day simple moving average of $85.86. The company has a market capitalization of $5.65 billion, a PE ratio of 9.15 and a beta of 1.40.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last issued its earnings results on Thursday, July 25th. The company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.19. Mr. Cooper Group had a net margin of 33.22% and a return on equity of 14.10%. The company had revenue of $583.00 million for the quarter, compared to analysts' expectations of $552.09 million. During the same period in the prior year, the business earned $1.66 EPS. The firm's quarterly revenue was up 3.4% on a year-over-year basis. Research analysts expect that Mr. Cooper Group Inc. will post 9.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Mr. Cooper Group by 5.4% during the 4th quarter. Vanguard Group Inc. now owns 7,626,038 shares of the company's stock worth $496,608,000 after acquiring an additional 391,780 shares in the last quarter. Harbour Capital Advisors LLC lifted its holdings in shares of Mr. Cooper Group by 79.6% during the 1st quarter. Harbour Capital Advisors LLC now owns 11,955 shares of the company's stock valued at $907,000 after purchasing an additional 5,300 shares during the last quarter. Oliver Luxxe Assets LLC grew its stake in Mr. Cooper Group by 1.8% during the 1st quarter. Oliver Luxxe Assets LLC now owns 21,125 shares of the company's stock worth $1,647,000 after buying an additional 375 shares during the last quarter. AlphaMark Advisors LLC grew its stake in Mr. Cooper Group by 6.9% during the 1st quarter. AlphaMark Advisors LLC now owns 4,675 shares of the company's stock worth $364,000 after buying an additional 301 shares during the last quarter. Finally, Penbrook Management LLC acquired a new position in Mr. Cooper Group during the 1st quarter valued at about $949,000. 89.82% of the stock is owned by institutional investors.

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.