Mr. Cooper Group (NASDAQ:COOP) Upgraded by Zacks Investment Research to Buy

Mr. Cooper Group (NASDAQ:COOP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, reports. The firm presently has a $45.00 price target on the stock. Zacks Investment Research‘s price target points to a potential upside of 13.12% from the company’s previous close.

According to Zacks, “Mr. Cooper Group Inc. provides quality servicing, origination and transaction-based services principally to single-family residences primarily in United States. The company’s brand consists of Mr. Cooper(R) and Xome(R). Mr. Cooper offers home loan services focused on delivering services and lending products, services and technologies. Xome provides technology and data enhanced solutions to homebuyers, home sellers, real estate agents and mortgage companies. Mr. Cooper Group Inc., formerly known as WMIH Corp., is based in Coppell, Texas. “

Separately, Credit Suisse Group upped their price target on shares of Mr. Cooper Group from $41.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday, July 30th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to, the company presently has an average rating of “Buy” and a consensus price target of $38.63.

Shares of NASDAQ:COOP traded down $0.15 during mid-day trading on Monday, reaching $39.78. The company had a trading volume of 1,272,795 shares, compared to its average volume of 806,092. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of 2.66 and a beta of 1.65. The company’s 50-day moving average price is $37.87 and its 200-day moving average price is $35.21. Mr. Cooper Group has a one year low of $19.89 and a one year high of $41.77.

Mr. Cooper Group (NASDAQ:COOP) last posted its quarterly earnings results on Thursday, July 29th. The company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.32. Mr. Cooper Group had a net margin of 38.03% and a return on equity of 34.60%. The company had revenue of $574.00 million for the quarter, compared to analysts’ expectations of $670.73 million. On average, equities analysts expect that Mr. Cooper Group will post 8.14 EPS for the current fiscal year.

In other news, EVP Eldridge A. Burns sold 3,436 shares of the firm’s stock in a transaction on Friday, September 3rd. The shares were sold at an average price of $39.90, for a total transaction of $137,096.40. Following the sale, the executive vice president now directly owns 26,845 shares in the company, valued at approximately $1,071,115.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert H. Gidel sold 40,000 shares of the firm’s stock in a transaction on Thursday, August 19th. The shares were sold at an average price of $37.56, for a total transaction of $1,502,400.00. Following the sale, the director now owns 3,451 shares in the company, valued at $129,619.56. The disclosure for this sale can be found here. Corporate insiders own 2.17% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC boosted its stake in shares of Mr. Cooper Group by 150.0% during the 1st quarter. Commonwealth Equity Services LLC now owns 16,244 shares of the company’s stock worth $564,000 after purchasing an additional 9,747 shares during the period. Requisite Capital Management LLC purchased a new position in shares of Mr. Cooper Group during the 2nd quarter worth about $86,001,000. Paloma Partners Management Co purchased a new stake in Mr. Cooper Group in the 1st quarter valued at about $923,000. Toronto Dominion Bank purchased a new stake in Mr. Cooper Group in the 1st quarter valued at about $82,000. Finally, Citigroup Inc. boosted its position in Mr. Cooper Group by 32.8% in the 1st quarter. Citigroup Inc. now owns 63,408 shares of the company’s stock valued at $2,205,000 after buying an additional 15,648 shares during the period. 89.58% of the stock is owned by hedge funds and other institutional investors.

About Mr. Cooper Group

Mr. Cooper Group, Inc engages in the provision of residential loan services. It operated through the following segments: Servicing, Originations, Xome, and Corporate/Other. The Servicing segment consists of collecting loan payments, remitting principal and interest payments to investors, managing escrow funds for the payment of mortgage-related expenses, such as taxes and insurance, performing loss mitigation activities on behalf of investors and otherwise administering mortgage loan servicing portfolio.

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