JMP Securities Reaffirms Market Outperform Rating for Mr. Cooper Group (NASDAQ:COOP)

Mr. Cooper Group (NASDAQ:COOP)‘s stock had its “market outperform” rating restated by analysts at JMP Securities in a report released on Thursday,Benzinga reports. They currently have a $115.00 target price on the stock. JMP Securities’ target price indicates a potential upside of 7.14% from the company’s previous close.

Other analysts also recently issued reports about the company. Piper Sandler raised their price objective on Mr. Cooper Group from $113.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Compass Point raised their price objective on Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Barclays raised their price objective on Mr. Cooper Group from $111.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday. Citizens Jmp raised Mr. Cooper Group to a “strong-buy” rating in a research report on Tuesday, January 14th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $115.00 target price on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Mr. Cooper Group has an average rating of “Moderate Buy” and an average target price of $106.88.

Mr. Cooper Group Stock Performance

Shares of NASDAQ COOP traded up $0.62 during trading on Thursday, hitting $107.33. 28,840 shares of the company were exchanged, compared to its average volume of 484,415. Mr. Cooper Group has a 12-month low of $70.01 and a 12-month high of $108.56. The company has a fifty day moving average price of $99.01 and a 200-day moving average price of $94.78. The firm has a market capitalization of $6.87 billion, a PE ratio of 13.87, a P/E/G ratio of 0.31 and a beta of 1.43.

Mr. Cooper Group (NASDAQ:COOP) last issued 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 return on equity of 13.77% and a net margin of 25.87%. Research analysts anticipate that Mr. Cooper Group will post 10.18 earnings per share for the current fiscal year.

Insider Transactions at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $94.49, for a total transaction of $2,834,700.00. Following the completion of the transaction, the chief executive officer now directly owns 758,821 shares of the company’s stock, valued at approximately $71,700,996.29. The trade was a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.33% of the company’s stock.

Hedge Funds Weigh In On Mr. Cooper Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Financial Management Professionals Inc. acquired a new position in shares of Mr. Cooper Group during the third quarter worth about $30,000. Picton Mahoney Asset Management grew its position in shares of Mr. Cooper Group by 41.3% during the fourth quarter. Picton Mahoney Asset Management now owns 325 shares of the company’s stock worth $31,000 after buying an additional 95 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its stake in Mr. Cooper Group by 152.5% during the third quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock worth $41,000 after purchasing an additional 270 shares during the last quarter. Asset Planning Inc purchased a new stake in Mr. Cooper Group during the fourth quarter worth approximately $48,000. Finally, ORG Partners LLC purchased a new stake in Mr. Cooper Group during the fourth quarter worth approximately $51,000. 89.82% of the stock is owned by institutional investors and hedge funds.

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.