Mr. Cooper Group (NASDAQ:COOP) Releases Quarterly Earnings Results, Beats Expectations By $0.17 EPS

Mr. Cooper Group (NASDAQ:COOP) issued its quarterly earnings data on Wednesday. The company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.17, reports. Mr. Cooper Group had a return on equity of 13.31% and a net margin of 31.75%. The firm had revenue of $564.00 million during the quarter, compared to analyst estimates of $498.15 million.

Mr. Cooper Group Stock Performance

Shares of COOP stock opened at $78.76 on Friday. The firm has a market capitalization of $5.14 billion, a PE ratio of 8.25 and a beta of 1.38. Mr. Cooper Group has a 1 year low of $41.74 and a 1 year high of $81.98. The stock has a fifty day moving average of $74.91 and a two-hundred day moving average of $66.39.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on COOP. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $92.00 price target (up from $86.00) on shares of Mr. Cooper Group in a report on Thursday. Deutsche Bank Aktiengesellschaft upped their price objective on Mr. Cooper Group from $88.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday. Wedbush increased their target price on Mr. Cooper Group from $85.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday. Jefferies Financial Group boosted their price target on Mr. Cooper Group from $74.00 to $80.00 and gave the company a “hold” rating in a report on Friday, April 19th. Finally, Barclays lifted their price objective on shares of Mr. Cooper Group from $85.00 to $94.00 and gave the stock an “overweight” rating in a report on Thursday. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $82.22.

Insider Activity at Mr. Cooper Group

In related news, President Michael S. Weinbach bought 17,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was purchased at an average price of $71.16 per share, for a total transaction of $1,209,720.00. Following 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Jesse K. Bray sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $71.61, for a total transaction of $1,790,250.00. Following the sale, the chief executive officer now owns 366,051 shares in the company, valued at $26,212,912.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Michael S. Weinbach bought 17,000 shares of Mr. Cooper Group stock in a transaction dated 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 acquisition, the president now directly owns 17,000 shares of the company’s stock, valued at $1,209,720. The disclosure for this purchase can be found here. Insiders have sold a total of 75,000 shares of company stock worth $5,431,500 over the last ninety days. 2.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mr. Cooper Group

Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in Mr. Cooper Group during the third quarter valued at $198,000. Exchange Traded Concepts LLC purchased a new stake in shares of Mr. Cooper Group during the 3rd quarter worth about $667,000. Counterpoint Mutual Funds LLC purchased a new stake in shares of Mr. Cooper Group during the 3rd quarter worth about $219,000. Denali Advisors LLC acquired a new stake in shares of Mr. Cooper Group during the 3rd quarter valued at about $933,000. Finally, Xponance Inc. grew its stake in shares of Mr. Cooper Group by 47.1% in the 3rd quarter. Xponance Inc. now owns 5,837 shares of the company’s stock valued at $313,000 after buying an additional 1,868 shares in the last quarter. Institutional investors and hedge funds own 89.82% of the company’s stock.

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.