Mr. Cooper Group (NASDAQ:COOP) Reaches New 52-Week High – What’s Next?

Mr. Cooper Group Inc. (NASDAQ:COOP)’s share price hit a new 52-week high during trading on Monday . The stock traded as high as $96.41 and last traded at $95.58, with a volume of 42426 shares changing hands. The stock had previously closed at $95.19.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Wedbush boosted their target price on Mr. Cooper Group from $100.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods downgraded shares of Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 price target on the stock. in a research note on Monday, July 22nd. Piper Sandler upped their price objective on shares of Mr. Cooper Group from $91.00 to $106.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, Barclays increased their target price 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. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $96.29.

Mr. Cooper Group Price Performance

The stock has a market cap of $6.19 billion, a PE ratio of 9.07 and a beta of 1.40. The business has a 50 day moving average price of $91.18 and a two-hundred day moving average price of $85.22.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings results on Thursday, July 25th. The company reported $2.52 earnings per share for the quarter, beating 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 business had revenue of $583.00 million during the quarter, compared to analysts’ expectations of $552.09 million. During the same quarter in the prior year, the company posted $1.66 EPS. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, sell-side analysts forecast that Mr. Cooper Group Inc. will post 9.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Blue Trust Inc. lifted its holdings in Mr. Cooper Group by 77.1% in the 2nd quarter. Blue Trust Inc. now owns 333 shares of the company’s stock worth $26,000 after buying an additional 145 shares during the period. Allspring Global Investments Holdings LLC raised its holdings 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 valued at $27,000 after acquiring an additional 331 shares in the last quarter. Quarry LP purchased a new stake in Mr. Cooper Group in the second quarter worth $29,000. CWM LLC boosted its holdings in Mr. Cooper Group by 34.5% in the second quarter. CWM LLC now owns 601 shares of the company’s stock valued at $49,000 after acquiring an additional 154 shares in the last quarter. Finally, Perkins Coie Trust Co bought a new stake in Mr. Cooper Group in the second quarter valued at $81,000. Hedge funds and other institutional investors own 89.82% of the company’s stock.

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.