Mr. Cooper Group (NASDAQ:COOP) Hits New 52-Week High at $78.30

Mr. Cooper Group Inc. (NASDAQ:COOP) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $78.30 and last traded at $78.00, with a volume of 12089 shares traded. The stock had previously closed at $78.01.

Analyst Upgrades and Downgrades

COOP has been the topic of a number of recent research reports. UBS Group initiated coverage on Mr. Cooper Group in a report on Wednesday, December 6th. They issued a “buy” rating and a $80.00 target price on the stock. Keefe, Bruyette & Woods boosted their target price on Mr. Cooper Group from $81.00 to $83.00 and gave the stock an “outperform” rating in a research report on Monday, February 12th. Wedbush boosted their target price on Mr. Cooper Group from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, February 12th. Barclays boosted their target price on Mr. Cooper Group from $73.00 to $80.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Mr. Cooper Group in a research report on Wednesday, January 10th. They set a “buy” rating and a $88.00 target price on the stock. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $77.50.

Mr. Cooper Group Stock Up 0.0 %

The company has a market capitalization of $5.04 billion, a price-to-earnings ratio of 10.63 and a beta of 1.37. The company has a 50 day simple moving average of $71.11 and a 200 day simple moving average of $63.14.

Mr. Cooper Group (NASDAQ:COOP) last issued its earnings results on Friday, February 9th. The company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.34. Mr. Cooper Group had a return on equity of 12.01% and a net margin of 27.87%. The company had revenue of $404.00 million during the quarter, compared to the consensus estimate of $398.31 million. On average, research analysts forecast that Mr. Cooper Group Inc. will post 8.69 EPS for the current fiscal year.

Insider Activity at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 25,000 shares of the stock in a transaction dated 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 owns 391,051 shares of the company’s stock, valued at $26,419,405.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Mr. Cooper Group news, CEO Jesse K. Bray sold 25,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 391,051 shares of the company’s stock, valued at approximately $26,419,405.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, President Michael S. Weinbach bought 17,000 shares of Mr. Cooper Group stock in a transaction on Tuesday, February 13th. The shares were purchased at an average cost of $71.16 per share, for a total transaction of $1,209,720.00. Following the acquisition, the president now owns 17,000 shares in the company, valued at $1,209,720. The disclosure for this purchase can be found here. 3.11% of the stock is currently owned by company insiders.

Institutional Trading of Mr. Cooper Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Mr. Cooper Group by 4.2% during the 1st quarter. BlackRock Inc. now owns 11,145,045 shares of the company’s stock worth $456,612,000 after purchasing an additional 450,346 shares during the period. Vanguard Group Inc. raised its position in shares of Mr. Cooper Group by 25.0% during the 1st quarter. Vanguard Group Inc. now owns 8,125,291 shares of the company’s stock worth $371,082,000 after purchasing an additional 1,622,582 shares during the period. State Street Corp increased its position in Mr. Cooper Group by 0.5% in the 2nd quarter. State Street Corp now owns 2,726,074 shares of the company’s stock valued at $138,048,000 after acquiring an additional 13,203 shares during the period. Morgan Stanley increased its position in Mr. Cooper Group by 49.9% in the 3rd quarter. Morgan Stanley now owns 2,033,145 shares of the company’s stock valued at $108,895,000 after acquiring an additional 676,483 shares during the period. Finally, Wellington Management Group LLP increased its position in Mr. Cooper Group by 12,377.0% in the 1st quarter. Wellington Management Group LLP now owns 1,841,226 shares of the company’s stock valued at $84,089,000 after acquiring an additional 1,826,469 shares during the period. 89.82% of the stock is currently owned by institutional investors and hedge funds.

Mr. Cooper Group Company Profile

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.