Mr. Cooper Group (NASDAQ:COOP) Reaches New 1-Year High – Should You Buy?

Mr. Cooper Group Inc. (NASDAQ:COOP) shares reached a new 52-week high during trading on Thursday . The company traded as high as $142.98 and last traded at $142.78, with a volume of 1437524 shares changing hands. The stock had previously closed at $135.45.

Analyst Upgrades and Downgrades

COOP has been the subject of several analyst reports. Citizens Jmp downgraded shares of Mr. Cooper Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 1st. UBS Group boosted their price objective on shares of Mr. Cooper Group from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, April 16th. Barclays upped their price objective on shares of Mr. Cooper Group from $130.00 to $147.00 and gave the company an “overweight” rating in a research note on Tuesday, April 8th. Piper Sandler cut shares of Mr. Cooper Group from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $125.00 to $143.00 in a research note on Friday, April 4th. Finally, Keefe, Bruyette & Woods boosted their price target on Mr. Cooper Group from $115.00 to $143.00 and gave the company a “market perform” rating in a report on Tuesday, April 8th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $131.14.

Mr. Cooper Group Price Performance

The company’s 50-day moving average is $123.25 and its 200-day moving average is $110.36. The firm has a market capitalization of $9.15 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 0.32 and a beta of 1.03.

Mr. Cooper Group (NASDAQ:COOP) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.16. Mr. Cooper Group had a net margin of 30.07% and a return on equity of 14.76%. The company had revenue of $560.00 million for the quarter, compared to the consensus estimate of $620.57 million. During the same quarter last year, the firm posted $2.73 earnings per share. Mr. Cooper Group’s revenue was down .7% on a year-over-year basis. Sell-side analysts anticipate that Mr. Cooper Group Inc. will post 13.17 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in COOP. First Horizon Advisors Inc. purchased a new stake in Mr. Cooper Group during the first quarter valued at about $26,000. Picton Mahoney Asset Management lifted its stake in shares of Mr. Cooper Group by 41.3% in the 4th quarter. Picton Mahoney Asset Management now owns 325 shares of the company’s stock valued at $31,000 after purchasing an additional 95 shares in the last quarter. Asset Planning Inc purchased a new stake in shares of Mr. Cooper Group during the 4th quarter worth about $48,000. Allworth Financial LP grew its holdings in shares of Mr. Cooper Group by 24.5% during the 1st quarter. Allworth Financial LP now owns 442 shares of the company’s stock worth $51,000 after purchasing an additional 87 shares during the period. Finally, USA Financial Formulas acquired a new stake in Mr. Cooper Group during the 1st quarter worth approximately $55,000. 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.