Mr. Cooper Group (NASDAQ:COOP) Stock Rating Lowered by Zacks Investment Research

Mr. Cooper Group (NASDAQ:COOP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “Mr. Cooper Group Inc. provides quality servicing, origination and transaction-based services principally to single-family residences primarily in United States. The company’s brand consists of Mr. Cooper(R) and Xome(R). Mr. Cooper offers home loan services focused on delivering services and lending products, services and technologies. Xome provides technology and data enhanced solutions to homebuyers, home sellers, real estate agents and mortgage companies. Mr. Cooper Group Inc., formerly known as WMIH Corp., is based in Coppell, Texas. “

Separately, Credit Suisse Group raised their price objective on Mr. Cooper Group from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, July 30th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $38.63.

COOP stock traded up $0.35 during trading on Tuesday, reaching $40.13. 1,287,787 shares of the stock were exchanged, compared to its average volume of 808,754. The business has a 50 day moving average price of $38.00 and a 200-day moving average price of $35.26. Mr. Cooper Group has a 1 year low of $19.89 and a 1 year high of $41.77. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of 2.68 and a beta of 1.65.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings results on Thursday, July 29th. The company reported $1.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.60 by $0.32. The business had revenue of $574.00 million during the quarter, compared to the consensus estimate of $670.73 million. Mr. Cooper Group had a net margin of 38.03% and a return on equity of 34.60%. Sell-side analysts expect that Mr. Cooper Group will post 8.14 EPS for the current fiscal year.

In other Mr. Cooper Group news, EVP Eldridge A. Burns sold 3,436 shares of the stock in a transaction dated Friday, September 3rd. The stock was sold at an average price of $39.90, for a total value of $137,096.40. Following the sale, the executive vice president now owns 26,845 shares of the company’s stock, valued at approximately $1,071,115.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert H. Gidel sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, August 19th. The stock was sold at an average price of $37.56, for a total transaction of $1,502,400.00. Following the sale, the director now owns 3,451 shares in the company, valued at $129,619.56. The disclosure for this sale can be found here. Company insiders own 2.17% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in COOP. Commonwealth Equity Services LLC lifted its position in Mr. Cooper Group by 150.0% in the first quarter. Commonwealth Equity Services LLC now owns 16,244 shares of the company’s stock valued at $564,000 after acquiring an additional 9,747 shares during the last quarter. Blueshift Asset Management LLC purchased a new position in shares of Mr. Cooper Group during the first quarter worth approximately $244,000. The PNC Financial Services Group Inc. increased its holdings in shares of Mr. Cooper Group by 9.4% in the 1st quarter. The PNC Financial Services Group Inc. now owns 5,993 shares of the company’s stock valued at $208,000 after acquiring an additional 517 shares during the period. Sowell Financial Services LLC raised its position in Mr. Cooper Group by 8.1% in the 1st quarter. Sowell Financial Services LLC now owns 9,617 shares of the company’s stock valued at $315,000 after purchasing an additional 720 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in Mr. Cooper Group by 6.1% during the 1st quarter. BlackRock Inc. now owns 11,333,892 shares of the company’s stock worth $393,968,000 after purchasing an additional 655,652 shares during the period. Institutional investors and hedge funds own 89.58% of the company’s stock.

Mr. Cooper Group Company Profile

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.

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