Mr. Cooper Group (NASDAQ:COOP) Stock Rating Lowered by Piper Sandler

Piper Sandler downgraded shares of Mr. Cooper Group (NASDAQ:COOP) from an overweight rating to a neutral rating in a report published on Friday, MarketBeat.com reports. The brokerage currently has $143.00 price target on the stock, up from their previous price target of $125.00.

Other equities analysts also recently issued research reports about the company. Barclays boosted their target price on Mr. Cooper Group from $111.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Keefe, Bruyette & Woods increased their target price on shares of Mr. Cooper Group from $105.00 to $115.00 and gave the company a “market perform” rating in a research note on Thursday, February 13th. Citizens Jmp lowered shares of Mr. Cooper Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 1st. JMP Securities reiterated a “market outperform” rating and set a $115.00 price target on shares of Mr. Cooper Group in a report on Thursday, February 13th. Finally, UBS Group raised their price objective on shares of Mr. Cooper Group from $122.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Mr. Cooper Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.78.

Mr. Cooper Group Stock Up 0.8 %

Mr. Cooper Group stock opened at $134.21 on Friday. The company’s 50-day moving average price is $108.62 and its 200-day moving average price is $99.98. The company has a market cap of $8.54 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 0.32 and a beta of 1.17. Mr. Cooper Group has a twelve month low of $74.49 and a twelve month high of $137.60.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings results on Wednesday, February 12th. The company reported $2.73 EPS for the quarter, topping the consensus estimate of $2.65 by $0.08. Mr. Cooper Group had a return on equity of 14.76% and a net margin of 30.07%. As a group, sell-side analysts expect that Mr. Cooper Group will post 13.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $112.24, for a total transaction of $3,367,200.00. Following the transaction, the chief executive officer now owns 698,821 shares of the company’s stock, valued at approximately $78,435,669.04. This trade represents a 4.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.33% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mr. Cooper Group

A number of hedge funds and other institutional investors have recently modified their holdings of COOP. Picton Mahoney Asset Management raised its stake in Mr. Cooper Group by 41.3% in the fourth quarter. Picton Mahoney Asset Management now owns 325 shares of the company’s stock worth $31,000 after buying an additional 95 shares in the last quarter. Asset Planning Inc purchased a new position in shares of Mr. Cooper Group in the 4th quarter valued at $48,000. ORG Partners LLC purchased a new position in shares of Mr. Cooper Group in the 4th quarter valued at $51,000. Kapitalo Investimentos Ltda bought a new position in shares of Mr. Cooper Group in the 4th quarter worth $70,000. Finally, Covestor Ltd lifted its stake in shares of Mr. Cooper Group by 418.9% during the 4th quarter. Covestor Ltd now owns 742 shares of the company’s stock worth $71,000 after purchasing an additional 599 shares during the last quarter. 89.82% of the stock is currently owned by institutional investors.

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.