Keefe, Bruyette & Woods Reaffirms Outperform Rating for Mr. Cooper Group (NASDAQ:COOP)

Mr. Cooper Group (NASDAQ:COOP)‘s stock had its “outperform” rating restated by stock analysts at Keefe, Bruyette & Woods in a research note issued on Thursday, Benzinga reports. They currently have a $92.00 price target on the stock, up from their previous price target of $86.00. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 16.86% from the company’s current price.

A number of other research analysts have also issued reports on COOP. Jefferies Financial Group lifted their target price on Mr. Cooper Group from $74.00 to $80.00 and gave the company a “hold” rating in a report on Friday, April 19th. Deutsche Bank Aktiengesellschaft assumed coverage on Mr. Cooper Group in a research report on Wednesday, January 10th. They set a “buy” rating and a $88.00 price objective for the company. Barclays increased their target price on Mr. Cooper Group from $80.00 to $85.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Finally, Wedbush raised their price objective on shares of Mr. Cooper Group from $85.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $82.22.

Mr. Cooper Group Stock Performance

NASDAQ COOP opened at $78.73 on Thursday. The firm has a market cap of $5.10 billion, a price-to-earnings ratio of 8.24 and a beta of 1.38. The firm has a 50 day simple moving average of $74.98 and a 200-day simple moving average of $66.48. Mr. Cooper Group has a one year low of $41.74 and a one year high of $81.98.

Mr. Cooper Group (NASDAQ:COOP) last released its earnings results on Wednesday, April 24th. The company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.11 by $0.17. Mr. Cooper Group had a net margin of 31.75% and a return on equity of 13.31%. The company had revenue of $564.00 million for the quarter, compared to analyst estimates of $498.15 million. Equities analysts predict that Mr. Cooper Group will post 9.24 EPS for the current fiscal year.

Insider Activity

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 25,000 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $67.56, for a total value of $1,689,000.00. Following the completion of the transaction, the chief executive officer now directly owns 391,051 shares of the company’s stock, valued at $26,419,405.56. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, President Michael S. Weinbach bought 17,000 shares of the stock in a transaction on Tuesday, February 13th. The shares were bought at an average price of $71.16 per share, with a total value of $1,209,720.00. Following the completion of the acquisition, the president now owns 17,000 shares of the company’s stock, valued at $1,209,720. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jesse K. Bray sold 25,000 shares of Mr. Cooper Group stock in a transaction on Monday, January 29th. The stock was sold at an average price of $67.56, for a total value of $1,689,000.00. Following the transaction, the chief executive officer now directly owns 391,051 shares of the company’s stock, valued at approximately $26,419,405.56. The disclosure for this sale can be found here. Insiders sold 75,000 shares of company stock worth $5,431,500 in the last 90 days. 2.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mr. Cooper Group

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Mr. Cooper Group by 5.4% during the fourth quarter. Vanguard Group Inc. now owns 7,626,038 shares of the company’s stock worth $496,608,000 after acquiring an additional 391,780 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Mr. Cooper Group by 1.5% during the 4th quarter. Wellington Management Group LLP now owns 1,714,900 shares of the company’s stock worth $111,674,000 after purchasing an additional 25,351 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Mr. Cooper Group by 12.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,593,780 shares of the company’s stock worth $103,787,000 after purchasing an additional 182,014 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Mr. Cooper Group by 5.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 768,848 shares of the company’s stock valued at $50,067,000 after buying an additional 37,823 shares in the last quarter. Finally, Norges Bank acquired a new stake in Mr. Cooper Group during the 4th quarter valued at $47,104,000. 89.82% of the stock is owned by institutional investors and hedge funds.

Mr. Cooper Group Company Profile

Mr. Cooper Group Inc engages in non-banking services for mortgage loans the United States. The company operates through Servicing and Originations segments. The Servicing segment performs activities for underlying mortgages, including collecting and disbursing borrower payments, investor reporting, customer service, and modifying loans.