Mr. Cooper Group Inc (NASDAQ:COOP) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Mr. Cooper Group Inc (NASDAQ:COOP) have received a consensus rating of “Hold” from the nine research firms that are currently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $140.3750.

COOP has been the subject of several recent research reports. Piper Sandler lifted their price target on Mr. Cooper Group from $143.00 to $158.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 1st. Barclays lifted their price target on shares of Mr. Cooper Group from $147.00 to $156.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. UBS Group set a $176.00 price objective on shares of Mr. Cooper Group in a research note on Tuesday, August 5th. Finally, Jefferies Financial Group boosted their price objective on shares of Mr. Cooper Group from $110.00 to $150.00 and gave the stock a “hold” rating in a research note on Tuesday, July 22nd.

Insiders Place Their Bets

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $182.43, for a total transaction of $5,472,900.00. Following the sale, the chief executive officer directly owned 633,187 shares of the company’s stock, valued at approximately $115,512,304.41. This trade represents a 4.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.73% of the company’s stock.

Institutional Investors Weigh In On Mr. Cooper Group

Hedge funds have recently modified their holdings of the company. Norges Bank purchased a new stake in Mr. Cooper Group during the 2nd quarter worth about $258,538,000. Third Point LLC acquired a new position in Mr. Cooper Group in the second quarter valued at $138,019,000. Qube Research & Technologies Ltd increased its stake in Mr. Cooper Group by 154.5% in the second quarter. Qube Research & Technologies Ltd now owns 803,131 shares of the company’s stock valued at $119,835,000 after purchasing an additional 487,503 shares during the period. Whitebox Advisors LLC acquired a new position in Mr. Cooper Group in the second quarter valued at $72,344,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Mr. Cooper Group during the second quarter worth about $61,297,000. 89.82% of the stock is owned by hedge funds and other institutional investors.

Mr. Cooper Group Stock Performance

Shares of Mr. Cooper Group stock opened at $210.79 on Friday. Mr. Cooper Group has a one year low of $84.68 and a one year high of $234.73. The stock’s fifty day moving average is $196.15 and its 200 day moving average is $152.97. The stock has a market cap of $13.49 billion, a P/E ratio of 24.12 and a beta of 1.08.

Mr. Cooper Group (NASDAQ:COOP) last announced its earnings results on Wednesday, July 23rd. The company reported $3.13 EPS for the quarter, missing analysts’ consensus estimates of $3.28 by ($0.15). The company had revenue of $608.00 million during the quarter, compared to the consensus estimate of $669.23 million. Mr. Cooper Group had a return on equity of 15.66% and a net margin of 25.38%.Mr. Cooper Group’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the business posted $3.10 earnings per share. Analysts predict that Mr. Cooper Group will post 13.17 EPS for the current year.

Mr. Cooper Group Announces Dividend

The company also recently declared a special dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Monday, September 29th will be paid a dividend of $0.01 per share. The ex-dividend date is Monday, September 29th. Mr. Cooper Group’s payout ratio is presently 22.88%.

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.