Mr. Cooper Group (NASDAQ:COOP) Sets New 12-Month High – What’s Next?

Mr. Cooper Group Inc. (NASDAQ:COOP)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $97.91 and last traded at $97.90, with a volume of 129501 shares trading hands. The stock had previously closed at $96.47.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on COOP. Compass Point increased 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. Wedbush restated an “outperform” rating and issued a $115.00 price target on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Barclays upped their price target on Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods lowered Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 price objective on the stock. in a report on Monday, July 22nd. Finally, Piper Sandler boosted their price objective 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 research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $98.00.

Mr. Cooper Group Stock Performance

The firm’s 50-day moving average price is $91.92 and its two-hundred day moving average price is $86.86. The stock has a market cap of $6.31 billion, a price-to-earnings ratio of 12.46 and a beta of 1.40.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter last year, the firm earned $2.79 EPS. The business’s revenue was up 32.8% compared to the same quarter last year. As a group, sell-side analysts expect that Mr. Cooper Group Inc. will post 10.17 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Mr. Cooper Group

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