Mr. Cooper Group (NASDAQ:COOP) Price Target Raised to $94.00

Mr. Cooper Group (NASDAQ:COOP) had its price target raised by analysts at Barclays from $85.00 to $94.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 19.12% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Jefferies Financial Group raised their target price on shares of Mr. Cooper Group from $74.00 to $80.00 and gave the company a “hold” rating in a report on Friday, April 19th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $92.00 price target (up from $86.00) on shares of Mr. Cooper Group in a research note on Thursday. Deutsche Bank Aktiengesellschaft raised their price target on shares of Mr. Cooper Group from $88.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Wedbush raised their price target on shares of Mr. Cooper Group from $85.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $82.22.

Mr. Cooper Group Price Performance

Shares of Mr. Cooper Group stock traded down $2.81 during trading hours on Thursday, hitting $78.91. The company had a trading volume of 349,575 shares, compared to its average volume of 480,391. The company’s 50-day moving average is $74.75 and its two-hundred day moving average is $66.29. Mr. Cooper Group has a twelve month low of $41.74 and a twelve month high of $81.98. The company has a market cap of $5.15 billion, a P/E ratio of 10.75 and a beta of 1.38.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.11 by $0.17. The business had revenue of $564.00 million during the quarter, compared to the consensus estimate of $498.15 million. Mr. Cooper Group had a net margin of 27.87% and a return on equity of 12.01%. Sell-side analysts expect that Mr. Cooper Group will post 9.01 EPS for the current year.

Insider Buying and Selling

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

Institutional Trading of Mr. Cooper Group

A number of institutional investors and hedge funds have recently modified their holdings of COOP. Norges Bank acquired a new stake in Mr. Cooper Group in the 4th quarter valued at $47,104,000. Assenagon Asset Management S.A. raised its stake in shares of Mr. Cooper Group by 94.9% in the third quarter. Assenagon Asset Management S.A. now owns 1,411,766 shares of the company’s stock valued at $75,614,000 after acquiring an additional 687,321 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Mr. Cooper Group by 198.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 663,530 shares of the company’s stock worth $43,209,000 after acquiring an additional 441,282 shares in the last quarter. Vanguard Group Inc. boosted its stake in Mr. Cooper Group by 5.4% in the fourth quarter. Vanguard Group Inc. now owns 7,626,038 shares of the company’s stock worth $496,608,000 after purchasing an additional 391,780 shares in the last quarter. Finally, Cercano Management LLC bought a new stake in shares of Mr. Cooper Group during the fourth quarter worth $23,527,000. 89.82% of the stock is currently owned by institutional investors.

About Mr. Cooper Group

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.