Mr. Cooper Group (NASDAQ:COOP) Shares Gap Down – Time to Sell?

Mr. Cooper Group Inc. (NASDAQ:COOP) shares gapped down before the market opened on Wednesday . The stock had previously closed at $107.32, but opened at $101.77. Mr. Cooper Group shares last traded at $106.93, with a volume of 158,046 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on COOP shares. Citizens Jmp raised shares of Mr. Cooper Group to a “strong-buy” rating in a report on Tuesday, January 14th. Compass Point lifted their price objective on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. JMP Securities initiated coverage on shares of Mr. Cooper Group in a research report on Tuesday, January 14th. They set an “outperform” rating and a $115.00 price target on the stock. Piper Sandler boosted their price target on shares of Mr. Cooper Group from $113.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $115.00 price objective on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Mr. Cooper Group presently has an average rating of “Moderate Buy” and an average price target of $104.13.

Mr. Cooper Group Trading Down 1.4 %

The company’s fifty day moving average price is $98.81 and its two-hundred day moving average price is $94.70. The firm has a market cap of $6.77 billion, a P/E ratio of 13.67, a price-to-earnings-growth ratio of 0.31 and a beta of 1.43.

Mr. Cooper Group (NASDAQ:COOP) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $2.73 earnings per share for the quarter, beating the consensus estimate of $2.65 by $0.08. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%. On average, analysts predict that Mr. Cooper Group Inc. will post 10.18 EPS for the current fiscal year.

Insider Buying and Selling

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $94.49, for a total transaction of $2,834,700.00. Following the completion of the transaction, the chief executive officer now owns 758,821 shares of the company’s stock, valued at approximately $71,700,996.29. The trade was a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.33% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mr. Cooper Group

A number of institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp increased its holdings in Mr. Cooper Group by 1.9% in the 3rd quarter. State Street Corp now owns 2,726,946 shares of the company’s stock worth $251,370,000 after acquiring an additional 51,667 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Mr. Cooper Group by 11.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,247,434 shares of the company’s stock worth $114,988,000 after purchasing an additional 125,055 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Mr. Cooper Group by 6.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 916,365 shares of the company’s stock worth $84,471,000 after purchasing an additional 52,001 shares during the period. Norges Bank bought a new position in Mr. Cooper Group in the 4th quarter worth about $72,984,000. Finally, JPMorgan Chase & Co. boosted its stake in Mr. Cooper Group by 15.5% in the 4th quarter. JPMorgan Chase & Co. now owns 644,159 shares of the company’s stock worth $61,846,000 after purchasing an additional 86,510 shares during the period. 89.82% of the stock is currently owned by 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.