Mr. Cooper Group (NASDAQ:COOP) Price Target Increased to $80.00 by Analysts at Jefferies Financial Group

Mr. Cooper Group (NASDAQ:COOP) had its price target lifted by equities researchers at Jefferies Financial Group from $74.00 to $80.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Jefferies Financial Group’s target price points to a potential upside of 4.07% from the company’s current price.

Other research analysts have also issued reports about the stock. Keefe, Bruyette & Woods raised their price objective on shares of Mr. Cooper Group from $83.00 to $86.00 and gave the company an “outperform” rating in a research note on Tuesday, April 9th. Barclays raised their price target on shares of Mr. Cooper Group from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. Wedbush boosted their price objective on Mr. Cooper Group from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Monday, February 12th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Mr. Cooper Group in a report on Wednesday, January 10th. They issued a “buy” rating and a $88.00 target price on the stock. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $78.67.

Mr. Cooper Group Price Performance

Shares of COOP traded up $1.10 during trading hours on Friday, hitting $76.87. The stock had a trading volume of 53,694 shares, compared to its average volume of 469,256. Mr. Cooper Group has a 1-year low of $41.74 and a 1-year high of $78.54. The firm has a market capitalization of $5.02 billion, a P/E ratio of 10.48 and a beta of 1.38. The firm has a 50 day simple moving average of $74.37 and a 200-day simple moving average of $65.61.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings data on Friday, February 9th. The company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $404.00 million during the quarter, compared to analysts’ expectations of $398.31 million. Equities analysts predict that Mr. Cooper Group will post 9.01 EPS for the current fiscal year.

Insider Buying and Selling

In other news, President Michael S. Weinbach bought 17,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was acquired at an average cost of $71.16 per share, with a total value of $1,209,720.00. Following the completion of the transaction, the president now directly owns 17,000 shares of the company’s stock, valued at approximately $1,209,720. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Jesse K. Bray sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $78.09, for a total transaction of $1,952,250.00. Following the sale, the chief executive officer now directly owns 334,631 shares in the company, valued at approximately $26,131,334.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Michael S. Weinbach acquired 17,000 shares of Mr. Cooper Group stock in a transaction that occurred on Tuesday, February 13th. The stock was acquired at an average price of $71.16 per share, with a total value of $1,209,720.00. Following the completion of the purchase, the president now directly owns 17,000 shares in the company, valued at approximately $1,209,720. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 75,000 shares of company stock valued at $5,431,500. 3.11% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mr. Cooper Group

Several hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in shares of Mr. Cooper Group by 4.2% in the first quarter. BlackRock Inc. now owns 11,145,045 shares of the company’s stock worth $456,612,000 after buying an additional 450,346 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Mr. Cooper Group by 25.0% in the first 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 raised its position in shares of Mr. Cooper Group by 0.5% in the second quarter. State Street Corp now owns 2,726,074 shares of the company’s stock worth $138,048,000 after buying an additional 13,203 shares in the last quarter. Morgan Stanley increased its stake in Mr. Cooper Group by 49.9% in the 3rd quarter. Morgan Stanley now owns 2,033,145 shares of the company’s stock worth $108,895,000 after acquiring an additional 676,483 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of 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 in the last quarter. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

About Mr. Cooper Group

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.