Mr. Cooper Group (NASDAQ:COOP) Shares Gap Up – Here’s What Happened

Mr. Cooper Group Inc. (NASDAQ:COOP) gapped up before the market opened on Monday . The stock had previously closed at $104.49, but opened at $125.18. Mr. Cooper Group shares last traded at $121.57, with a volume of 970,003 shares changing hands.

Wall Street Analyst Weigh In

COOP has been the topic of several analyst reports. Keefe, Bruyette & Woods increased their price target on Mr. Cooper Group from $105.00 to $115.00 and gave the stock a “market perform” rating in a research report on Thursday, February 13th. JMP Securities reiterated a “market outperform” rating and set a $115.00 price target on shares of Mr. Cooper Group in a research report on Thursday, February 13th. UBS Group upped their price objective on Mr. Cooper Group from $122.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Barclays lifted their target price on shares of Mr. Cooper Group from $111.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Finally, Citizens Jmp upgraded shares of Mr. Cooper Group to a “strong-buy” rating in a research note on Tuesday, January 14th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Mr. Cooper Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.22.

Mr. Cooper Group Stock Up 14.6 %

The company has a market capitalization of $7.61 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 0.32 and a beta of 1.49. The stock’s 50-day simple moving average is $106.03 and its two-hundred day simple moving average is $98.73.

Mr. Cooper Group (NASDAQ:COOP) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.65 by $0.08. Mr. Cooper Group had a net margin of 30.07% and a return on equity of 14.76%. On average, sell-side analysts forecast that Mr. Cooper Group Inc. will post 13.17 EPS for the current year.

Insider Activity at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $112.24, for a total transaction of $3,367,200.00. Following the completion of the sale, the chief executive officer now owns 698,821 shares of the company’s stock, valued at $78,435,669.04. This represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mr. Cooper Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Picton Mahoney Asset Management raised its holdings in Mr. Cooper Group by 41.3% in the 4th quarter. Picton Mahoney Asset Management now owns 325 shares of the company’s stock valued at $31,000 after acquiring an additional 95 shares during the last quarter. Asset Planning Inc purchased a new stake in shares of Mr. Cooper Group in the fourth quarter valued at approximately $48,000. ORG Partners LLC purchased a new position in Mr. Cooper Group during the fourth quarter worth approximately $51,000. Kapitalo Investimentos Ltda purchased a new position in Mr. Cooper Group during the fourth quarter worth approximately $70,000. Finally, Covestor Ltd boosted its stake in Mr. Cooper Group by 418.9% during the fourth quarter. Covestor Ltd now owns 742 shares of the company’s stock worth $71,000 after buying an additional 599 shares during the last quarter. 89.82% of the stock is owned by hedge funds and other institutional investors.

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.