Mr. Cooper Group (NASDAQ:COOP) Announces Quarterly Earnings Results

Mr. Cooper Group (NASDAQ:COOP) posted its quarterly earnings results on Wednesday. The company reported $2.73 earnings per share for the quarter, topping analysts’ consensus estimates of $2.65 by $0.08, Zacks reports. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%.

Mr. Cooper Group Stock Performance

COOP traded down $0.06 on Friday, reaching $108.60. 130,416 shares of the company’s stock were exchanged, compared to its average volume of 495,711. The company’s 50 day moving average is $99.27 and its 200-day moving average is $94.88. The company has a market cap of $6.95 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 0.31 and a beta of 1.43. Mr. Cooper Group has a twelve month low of $70.01 and a twelve month high of $109.72.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on COOP. Piper Sandler upped their price target on shares of Mr. Cooper Group from $113.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. Citizens Jmp raised shares of Mr. Cooper Group to a “strong-buy” rating in a research note on Tuesday, January 14th. JMP Securities reaffirmed a “market outperform” rating and set a $115.00 price target on shares of Mr. Cooper Group in a research note on Thursday. Keefe, Bruyette & Woods upped their price target on shares of Mr. Cooper Group from $105.00 to $115.00 and gave the stock a “market perform” rating in a research note on Thursday. Finally, Wedbush reaffirmed an “outperform” rating and set a $115.00 price target on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $109.38.

Insider Buying and Selling

In related news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $94.49, for a total transaction of $2,834,700.00. Following the completion of the sale, the chief executive officer now owns 758,821 shares of the company’s stock, valued at approximately $71,700,996.29. This represents a 3.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.33% of the company’s stock.

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.