Mr. Cooper Group (NASDAQ:COOP) Shares Gap Up – Still a Buy?

Mr. Cooper Group Inc. (NASDAQ:COOP) shares gapped up prior to trading on Monday . The stock had previously closed at $104.49, but opened at $125.18. Mr. Cooper Group shares last traded at $121.57, with a volume of 970,003 shares traded.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on COOP. Barclays raised their price target on shares of Mr. Cooper Group from $111.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Keefe, Bruyette & Woods raised their target price on Mr. Cooper Group from $105.00 to $115.00 and gave the company a “market perform” rating in a report on Thursday, February 13th. Piper Sandler upped their price target on Mr. Cooper Group from $113.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. UBS Group raised their price objective on Mr. Cooper Group from $122.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $115.00 target price on shares of Mr. Cooper Group in a research note on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.22.

Mr. Cooper Group Trading Up 4.6 %

The stock has a market capitalization of $7.95 billion, a PE ratio of 12.29, a price-to-earnings-growth ratio of 0.32 and a beta of 1.49. The firm has a 50-day moving average price of $106.80 and a 200-day moving average price of $99.15.

Mr. Cooper Group (NASDAQ:COOP) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $2.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.08. Mr. Cooper Group had a net margin of 30.07% and a return on equity of 14.76%. Sell-side analysts expect that Mr. Cooper Group Inc. will post 13.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $112.24, for a total transaction of $3,367,200.00. Following the completion of the transaction, the chief executive officer now directly owns 698,821 shares of the company’s stock, valued at approximately $78,435,669.04. This represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.33% of the stock is currently owned by insiders.

Institutional Trading of Mr. Cooper Group

Hedge funds have recently made changes to their positions in the company. Penbrook Management LLC increased its holdings in Mr. Cooper Group by 0.6% in the 1st quarter. Penbrook Management LLC now owns 15,825 shares of the company’s stock worth $1,893,000 after acquiring an additional 100 shares during the last quarter. Copia Wealth Management bought a new position in Mr. Cooper Group during the fourth quarter worth about $292,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Mr. Cooper Group in the fourth quarter worth about $5,409,000. Jefferies Financial Group Inc. bought a new stake in shares of Mr. Cooper Group in the fourth quarter valued at approximately $394,000. Finally, Integrated Advisors Network LLC purchased a new stake in shares of Mr. Cooper Group during the 4th quarter valued at approximately $322,000. 89.82% of the stock is currently 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.