Keefe, Bruyette & Woods Downgrades Mr. Cooper Group (NASDAQ:COOP) to Market Perform

Keefe, Bruyette & Woods lowered shares of Mr. Cooper Group (NASDAQ:COOP) from an outperform rating to a market perform rating in a research report report published on Monday morning, Marketbeat reports. Keefe, Bruyette & Woods currently has $95.00 price objective on the stock.

A number of other analysts have also recently weighed in on the company. Barclays increased their price objective on Mr. Cooper Group from $85.00 to $94.00 and gave the stock an overweight rating in a research report on Thursday, April 25th. Wedbush increased their price target on Mr. Cooper Group from $85.00 to $100.00 and gave the stock an outperform rating in a report on Thursday, April 25th. Jefferies Financial Group boosted their price objective on shares of Mr. Cooper Group from $74.00 to $80.00 and gave the company a hold rating in a research note on Friday, April 19th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Mr. Cooper Group from $88.00 to $90.00 and gave the stock a buy rating in a research report on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $85.50.

Mr. Cooper Group Price Performance

Shares of NASDAQ:COOP opened at $92.54 on Monday. Mr. Cooper Group has a 1-year low of $52.46 and a 1-year high of $95.74. The stock has a market cap of $5.99 billion, a P/E ratio of 9.69 and a beta of 1.39. The firm has a fifty day moving average price of $83.16 and a 200 day moving average price of $76.74.

Mr. Cooper Group (NASDAQ:COOP) last announced its earnings results on Wednesday, April 24th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $564.00 million during the quarter, compared to the consensus estimate of $498.15 million. Sell-side analysts expect that Mr. Cooper Group will post 9.37 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jesse K. Bray sold 25,000 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $78.79, for a total value of $1,969,750.00. Following the completion of the transaction, the chief executive officer now owns 309,631 shares in the company, valued at approximately $24,395,826.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Michael R. Rawls sold 27,000 shares of Mr. Cooper Group stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $82.18, for a total transaction of $2,218,860.00. Following the completion of the transaction, the chief executive officer now owns 57,623 shares of the company’s stock, valued at approximately $4,735,458.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jesse K. Bray sold 25,000 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $78.79, for a total transaction of $1,969,750.00. Following the transaction, the chief executive officer now owns 309,631 shares of the company’s stock, valued at $24,395,826.49. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 102,000 shares of company stock worth $8,247,360. Corporate insiders own 2.33% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its position in Mr. Cooper Group by 1.1% during the third quarter. Vanguard Group Inc. now owns 7,234,258 shares of the company’s stock worth $387,467,000 after buying an additional 77,838 shares in the last quarter. SG Americas Securities LLC raised its stake in Mr. Cooper Group by 448.9% in the 4th quarter. SG Americas Securities LLC now owns 20,291 shares of the company’s stock valued at $1,321,000 after purchasing an additional 16,594 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Mr. Cooper Group by 7.3% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 25,017 shares of the company’s stock valued at $1,629,000 after purchasing an additional 1,703 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake 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. Finally, Global Retirement Partners LLC boosted its stake in shares of Mr. Cooper Group by 3,552.1% during the 4th quarter. Global Retirement Partners LLC now owns 1,753 shares of the company’s stock worth $109,000 after purchasing an additional 1,705 shares during the last quarter. 89.82% of the stock is owned by hedge funds and other 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.