Wedbush Boosts Mr. Cooper Group (NASDAQ:COOP) Price Target to $115.00

Mr. Cooper Group (NASDAQ:COOP) had its target price increased by Wedbush from $100.00 to $115.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Wedbush’s price objective would indicate a potential upside of 21.78% from the company’s previous close.

Other equities analysts have also issued reports about the company. Keefe, Bruyette & Woods lowered Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 price target on the stock. in a research report on Monday. Piper Sandler raised their target price on Mr. Cooper Group from $91.00 to $106.00 and gave the company an “overweight” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft raised their price objective on Mr. Cooper Group from $88.00 to $90.00 and gave the company a “buy” rating in a research 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 stock a “hold” rating in a research note on Friday, April 19th. Finally, Barclays raised their target price on shares of Mr. Cooper Group from $85.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.75.

Mr. Cooper Group Trading Up 2.0 %

Shares of COOP traded up $1.89 during mid-day trading on Friday, reaching $94.43. 144,831 shares of the stock traded hands, compared to its average volume of 450,672. The company has a market cap of $6.11 billion, a price-to-earnings ratio of 9.85 and a beta of 1.39. Mr. Cooper Group has a 1 year low of $52.46 and a 1 year high of $95.74. 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 issued its quarterly earnings results on Wednesday, April 24th. The company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.17. The firm had revenue of $564.00 million for the quarter, compared to analyst estimates of $498.15 million. Mr. Cooper Group had a net margin of 31.75% and a return on equity of 13.31%. On average, sell-side analysts anticipate that Mr. Cooper Group will post 9.37 EPS for the current year.

Insider Activity at Mr. Cooper Group

In related news, CEO Michael R. Rawls sold 27,000 shares of Mr. Cooper Group stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $82.18, for a total transaction of $2,218,860.00. Following the transaction, the chief executive officer now owns 57,623 shares in the company, valued at approximately $4,735,458.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Mr. Cooper Group news, CEO Jesse K. Bray sold 25,000 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $81.42, for a total transaction of $2,035,500.00. Following the completion of the transaction, the chief executive officer now owns 284,631 shares of the company’s stock, valued at approximately $23,174,656.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael R. Rawls sold 27,000 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $82.18, for a total value of $2,218,860.00. Following the completion of the sale, the chief executive officer now owns 57,623 shares in the company, valued at $4,735,458.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 102,000 shares of company stock worth $8,247,360. 2.33% of the stock is owned by company insiders.

Institutional Trading of Mr. Cooper Group

Several hedge funds have recently modified their holdings of COOP. Triasima Portfolio Management inc. purchased a new position in shares of Mr. Cooper Group in the 4th quarter worth $1,354,000. Cercano Management LLC purchased a new position in shares of Mr. Cooper Group in the 4th quarter worth approximately $23,527,000. Federated Hermes Inc. increased its position in shares of Mr. Cooper Group by 106.7% during the 4th quarter. Federated Hermes Inc. now owns 20,223 shares of the company’s stock valued at $1,317,000 after purchasing an additional 10,437 shares during the last quarter. K2 Principal Fund L.P. raised its holdings in Mr. Cooper Group by 97.7% during the 4th quarter. K2 Principal Fund L.P. now owns 279,510 shares of the company’s stock valued at $18,202,000 after buying an additional 138,147 shares during the period. Finally, Allianz Asset Management GmbH boosted its stake in Mr. Cooper Group by 2,060.4% during the fourth quarter. Allianz Asset Management GmbH now owns 102,423 shares of the company’s stock worth $6,670,000 after buying an additional 97,682 shares during the period. 89.82% of the stock is owned by hedge funds and other institutional investors.

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.