Mr. Cooper Group (NASDAQ:COOP) Sets New 1-Year High – Time to Buy?

Mr. Cooper Group Inc. (NASDAQ:COOP) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $125.86 and last traded at $119.60, with a volume of 6437896 shares changing hands. The stock had previously closed at $104.49.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. JMP Securities reaffirmed 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. Piper Sandler upped 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. UBS Group lifted their target price on Mr. Cooper Group from $122.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Keefe, Bruyette & Woods increased their price target on Mr. Cooper Group from $105.00 to $115.00 and gave the stock a “market perform” rating in a report on Thursday, February 13th. Finally, Citizens Jmp upgraded Mr. Cooper Group to a “strong-buy” rating in a report on Tuesday, January 14th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $112.22.

Mr. Cooper Group Stock Up 14.5 %

The company has a market capitalization of $7.61 billion, a P/E ratio of 11.75, a price-to-earnings-growth ratio of 0.32 and a beta of 1.49. The business has a fifty day moving average price of $106.35 and a 200 day moving average price of $98.93.

Mr. Cooper Group (NASDAQ:COOP) last released its earnings results on Wednesday, February 12th. The company reported $2.73 EPS for the quarter, beating the consensus estimate of $2.65 by $0.08. Mr. Cooper Group had a return on equity of 14.76% and a net margin of 30.07%. As a group, equities analysts forecast that Mr. Cooper Group Inc. will post 13.17 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Picton Mahoney Asset Management raised its stake in shares of Mr. Cooper Group by 41.3% during the 4th quarter. Picton Mahoney Asset Management now owns 325 shares of the company’s stock worth $31,000 after purchasing an additional 95 shares in the last quarter. Asset Planning Inc acquired a new position in Mr. Cooper Group during the fourth quarter worth $48,000. ORG Partners LLC bought a new stake in Mr. Cooper Group during the fourth quarter worth $51,000. Kapitalo Investimentos Ltda bought a new stake in Mr. Cooper Group during the fourth quarter worth $70,000. Finally, Covestor Ltd lifted its stake in Mr. Cooper Group by 418.9% in the fourth quarter. Covestor Ltd now owns 742 shares of the company’s stock valued at $71,000 after acquiring an additional 599 shares during the last quarter. 89.82% of the stock is currently owned by institutional investors.

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.