Mr. Cooper Group (NASDAQ:COOP) Reaches New 52-Week High – Here’s Why

Shares of Mr. Cooper Group Inc. (NASDAQ:COOP) reached a new 52-week high during mid-day trading on Friday . The company traded as high as $103.42 and last traded at $103.17, with a volume of 65814 shares trading hands. The stock had previously closed at $101.44.

Wall Street Analyst Weigh In

COOP has been the topic of a number of recent research reports. JMP Securities initiated coverage on Mr. Cooper Group in a research note on Tuesday. They issued an “outperform” rating and a $115.00 target price on the stock. Wedbush reiterated an “outperform” rating and issued a $115.00 target price on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Citizens Jmp raised Mr. Cooper Group to a “strong-buy” rating in a report on Tuesday. Barclays raised their price target on Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, Compass Point raised their price target on Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $102.38.

Mr. Cooper Group Trading Up 1.8 %

The stock has a market capitalization of $6.61 billion, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 0.27 and a beta of 1.43. The stock has a 50-day simple moving average of $96.54 and a 200 day simple moving average of $92.11.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.30. The business had revenue of $616.00 million during the quarter, compared to analyst estimates of $548.09 million. Mr. Cooper Group had a return on equity of 13.77% and a net margin of 25.87%. The firm’s revenue was up 32.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.79 EPS. Sell-side analysts expect that Mr. Cooper Group Inc. will post 10.18 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jesse K. Bray sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $97.58, for a total value of $2,927,400.00. Following the transaction, the chief executive officer now directly owns 788,821 shares of the company’s stock, valued at approximately $76,973,153.18. This trade represents a 3.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 90,000 shares of company stock worth $8,414,400 in the last three months. 2.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Dakota Wealth Management increased its position in Mr. Cooper Group by 0.7% in the 4th quarter. Dakota Wealth Management now owns 27,695 shares of the company’s stock worth $2,659,000 after buying an additional 181 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in Mr. Cooper Group by 9,175.5% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 4,916 shares of the company’s stock valued at $472,000 after buying an additional 4,863 shares in the last quarter. ORG Partners LLC acquired a new stake in Mr. Cooper Group in the 4th quarter valued at $51,000. Range Financial Group LLC acquired a new stake in Mr. Cooper Group in the 4th quarter valued at $1,091,000. Finally, Oliver Luxxe Assets LLC boosted its stake in Mr. Cooper Group by 5.8% in the 4th quarter. Oliver Luxxe Assets LLC now owns 41,535 shares of the company’s stock valued at $3,988,000 after buying an additional 2,259 shares in the last quarter. 89.82% of the stock is 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.