Mr. Cooper Group (NASDAQ:COOP) Hits New 1-Year High – Time to Buy?

Mr. Cooper Group Inc. (NASDAQ:COOP) hit a new 52-week high during trading on Monday . The stock traded as high as $105.77 and last traded at $105.82, with a volume of 44878 shares trading hands. The stock had previously closed at $104.12.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on COOP. Citizens Jmp upgraded shares of Mr. Cooper Group to a “strong-buy” rating in a research report on Tuesday, January 14th. Wedbush reiterated an “outperform” rating and set a $115.00 target price on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Barclays raised their price target on Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Compass Point boosted their price objective on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, JMP Securities began coverage on shares of Mr. Cooper Group in a research report on Tuesday, January 14th. They set an “outperform” rating and a $115.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $104.13.

Mr. Cooper Group Trading Down 1.2 %

The stock has a market capitalization of $6.77 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 0.30 and a beta of 1.43. The business has a 50 day simple moving average of $97.41 and a 200-day simple moving average of $93.55.

Insider Buying and Selling

In other news, CEO Jesse K. Bray sold 30,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $94.49, for a total value of $2,834,700.00. Following the transaction, the chief executive officer now directly owns 758,821 shares in the company, valued at $71,700,996.29. This trade represents a 3.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 90,000 shares of company stock valued at $8,414,400. Insiders own 2.33% of the company’s stock.

Institutional Trading of Mr. Cooper Group

A number of institutional investors and hedge funds have recently bought and sold shares of COOP. Quarry LP purchased a new stake in shares of Mr. Cooper Group in the second quarter worth about $29,000. Financial Management Professionals Inc. acquired a new stake in Mr. Cooper Group in the third quarter valued at approximately $30,000. Harvest Fund Management Co. Ltd grew its holdings in Mr. Cooper Group by 152.5% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock valued at $41,000 after purchasing an additional 270 shares in the last quarter. ORG Partners LLC purchased a new stake in shares of Mr. Cooper Group during the fourth quarter worth about $51,000. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of Mr. Cooper Group in the 3rd quarter valued at approximately $52,000. Institutional investors and hedge funds own 89.82% of the company’s stock.

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.