Mr. Cooper Group (NASDAQ:COOP) Earns Outperform Rating from Wedbush

Mr. Cooper Group (NASDAQ:COOP - Get Free Report)'s stock had its "outperform" rating reiterated by investment analysts at Wedbush in a report released on Thursday, Benzinga reports. They currently have a $115.00 price target on the stock. Wedbush's target price would indicate a potential upside of 29.39% from the company's current price.

COOP has been the subject of several other research reports. Piper Sandler raised their target price on Mr. Cooper Group from $91.00 to $106.00 and gave the stock an "overweight" rating in a research report on Friday, July 26th. Barclays upped their target price on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods downgraded Mr. Cooper Group from an "outperform" rating to a "market perform" rating and set a $95.00 target price on the stock. in a report on Monday, July 22nd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Mr. Cooper Group currently has a consensus rating of "Moderate Buy" and a consensus target price of $98.00.

Mr. Cooper Group Stock Up 1.7 %

COOP traded up $1.51 during trading on Thursday, reaching $88.88. 849,823 shares of the company's stock were exchanged, compared to its average volume of 444,771. Mr. Cooper Group has a fifty-two week low of $52.73 and a fifty-two week high of $97.35. The company has a market capitalization of $5.73 billion, a P/E ratio of 8.32 and a beta of 1.40. The business has a 50 day moving average price of $92.05 and a 200 day moving average price of $85.87.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last posted its quarterly 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. The firm had revenue of $583.00 million during the quarter, compared to analyst estimates of $552.09 million. Mr. Cooper Group had a net margin of 33.22% and a return on equity of 14.10%. The company's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.66 earnings per share. As a group, research analysts forecast that Mr. Cooper Group will post 9.98 EPS for the current year.

Hedge Funds Weigh In On Mr. Cooper Group

Hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its position in shares of Mr. Cooper Group by 77.1% in the 2nd quarter. Blue Trust Inc. now owns 333 shares of the company's stock valued at $26,000 after acquiring an additional 145 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Mr. Cooper Group by 8,275.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company's stock worth $27,000 after purchasing an additional 331 shares in the last quarter. Quarry LP acquired a new position in shares of Mr. Cooper Group in the 2nd quarter valued at $29,000. Financial Management Professionals Inc. bought a new stake in shares of Mr. Cooper Group in the 3rd quarter valued at $30,000. Finally, CWM LLC raised its stake in Mr. Cooper Group by 34.5% during the 2nd quarter. CWM LLC now owns 601 shares of the company's stock worth $49,000 after buying an additional 154 shares during the period. Institutional investors and hedge funds own 89.82% of the company's stock.

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.