Mr. Cooper Group (NASDAQ:COOP) had its target price increased by equities research analysts at Wedbush from $50.00 to $60.00 in a research report issued on Monday, The Fly reports. Wedbush’s target price would suggest a potential upside of 22.67% from the company’s current price.
A number of other brokerages have also recently weighed in on COOP. Barclays lifted their price target on shares of Mr. Cooper Group from $39.00 to $46.00 and gave the company an “equal weight” rating in a research report on Monday, January 10th. Credit Suisse Group lifted their price target on shares of Mr. Cooper Group from $52.00 to $59.00 and gave the company an “outperform” rating in a research report on Monday. Zacks Investment Research cut shares of Mr. Cooper Group from a “buy” rating to a “sell” rating in a research report on Tuesday, February 1st. Finally, Piper Sandler raised their price objective on shares of Mr. Cooper Group from $60.00 to $71.00 and gave the company an “overweight” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $53.67.
Mr. Cooper Group stock opened at $48.91 on Monday. Mr. Cooper Group has a 12-month low of $28.64 and a 12-month high of $49.82. The stock has a market cap of $3.67 billion, a P/E ratio of 3.05 and a beta of 1.57. The company has a 50-day moving average price of $41.53 and a 200 day moving average price of $41.12.
In other news, CEO Jesse K. Bray sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 20th. The shares were sold at an average price of $39.02, for a total transaction of $390,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 30,000 shares of company stock valued at $1,252,700 in the last 90 days. Insiders own 2.17% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Toronto Dominion Bank increased its stake in Mr. Cooper Group by 21.7% in the 2nd quarter. Toronto Dominion Bank now owns 2,861 shares of the company’s stock valued at $95,000 after buying an additional 511 shares during the period. Macquarie Group Ltd. increased its stake in Mr. Cooper Group by 242.2% in the 2nd quarter. Macquarie Group Ltd. now owns 3,295 shares of the company’s stock valued at $109,000 after buying an additional 2,332 shares during the period. Robeco Institutional Asset Management B.V. acquired a new position in Mr. Cooper Group in the 3rd quarter valued at $185,000. Point72 Hong Kong Ltd acquired a new position in Mr. Cooper Group in the 3rd quarter valued at $195,000. Finally, Versor Investments LP acquired a new position in Mr. Cooper Group in the 4th quarter valued at $200,000. 83.80% of the stock is currently owned by institutional investors and hedge funds.
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.