Mr. Cooper Group (NASDAQ:COOP) Hits New 52-Week High – Still a Buy?

Mr. Cooper Group Inc. (NASDAQ:COOP) hit a new 52-week high during trading on Thursday . The stock traded as high as $112.54 and last traded at $112.55, with a volume of 174998 shares traded. The stock had previously closed at $110.79.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on COOP shares. Barclays increased their price objective on Mr. Cooper Group from $111.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. UBS Group raised their price target on shares of Mr. Cooper Group from $122.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Citizens Jmp raised shares of Mr. Cooper Group to a “strong-buy” rating in a research report on Tuesday, January 14th. JMP Securities reissued a “market outperform” rating and set a $115.00 target price on shares of Mr. Cooper Group in a research report on Thursday, February 13th. Finally, Keefe, Bruyette & Woods upped their price target on Mr. Cooper Group from $105.00 to $115.00 and gave the company a “market perform” rating in a report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $112.22.

Mr. Cooper Group Stock Performance

The company has a 50-day moving average of $102.29 and a 200 day moving average of $96.73. The firm has a market cap of $7.15 billion, a P/E ratio of 11.04, a P/E/G ratio of 0.32 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, beating analysts’ consensus estimates of $2.65 by $0.08. Mr. Cooper Group had a return on equity of 14.76% and a net margin of 30.07%. Sell-side analysts anticipate that Mr. Cooper Group Inc. will post 13.17 EPS for the current fiscal year.

Insider Activity at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 788,821 shares of the company’s stock, valued at $76,973,153.18. The trade was a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.33% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mr. Cooper Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Picton Mahoney Asset Management lifted its stake 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 valued at $31,000 after acquiring an additional 95 shares during the period. Harvest Fund Management Co. Ltd increased its holdings in Mr. Cooper Group by 152.5% in the third quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock valued at $41,000 after purchasing an additional 270 shares during the last quarter. Asset Planning Inc acquired a new position in Mr. Cooper Group in the fourth quarter valued at about $48,000. ORG Partners LLC bought a new position in Mr. Cooper Group during the fourth quarter worth about $51,000. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Mr. Cooper Group in the 3rd quarter valued at about $52,000. Institutional investors and hedge funds own 89.82% of the company’s stock.

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.