Mr. Cooper Group (NASDAQ:COOP) Announces Quarterly Earnings Results

Mr. Cooper Group (NASDAQ:COOP) issued its quarterly earnings data on Wednesday. The company reported $2.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.65 by $0.08, Zacks reports. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%.

Mr. Cooper Group Price Performance

COOP traded down $0.06 during trading hours on Friday, hitting $108.60. 130,416 shares of the stock were exchanged, compared to its average volume of 495,711. The stock has a 50-day simple moving average of $99.27 and a 200-day simple moving average of $94.88. Mr. Cooper Group has a 12 month low of $70.01 and a 12 month high of $109.72. The stock has a market cap of $6.95 billion, a price-to-earnings ratio of 14.06, a price-to-earnings-growth ratio of 0.31 and a beta of 1.43.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Piper Sandler increased their price objective on shares of Mr. Cooper Group from $113.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Barclays increased their price objective 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. Compass Point increased their price objective on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. JMP Securities reissued a “market outperform” rating and set a $115.00 price target on shares of Mr. Cooper Group in a research report on Thursday. Finally, Wedbush reissued an “outperform” rating and set a $115.00 price target on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $109.38.

Insider Buying and Selling

In related news, CEO Jesse K. Bray sold 30,000 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 758,821 shares in the company, valued at $71,700,996.29. This trade represents a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.33% of the stock is currently owned by company insiders.

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.