Mr. Cooper Group (NASDAQ:COOP) Stock Price Down 4.1% – Here’s Why

Shares of Mr. Cooper Group Inc. (NASDAQ:COOP) fell 4.1% during trading on Wednesday . The company traded as low as $86.88 and last traded at $87.36. 128,444 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 436,108 shares. The stock had previously closed at $91.06.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on COOP shares. Keefe, Bruyette & Woods downgraded shares of Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 price objective on the stock. in a research report on Monday, July 22nd. Barclays raised their price objective on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Wedbush upped their target price on Mr. Cooper Group from $100.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Piper Sandler raised their target price on Mr. Cooper Group from $91.00 to $106.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $96.29.

Mr. Cooper Group Trading Down 4.0 %

The firm has a market capitalization of $5.66 billion, a P/E ratio of 8.90 and a beta of 1.40. The business’s 50 day simple moving average is $92.07 and its two-hundred day simple moving average is $85.86.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings data on Thursday, July 25th. The company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.19. The company had revenue of $583.00 million during the quarter, compared to analyst estimates of $552.09 million. Mr. Cooper Group had a net margin of 33.22% and a return on equity of 14.10%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.66 EPS. Analysts predict that Mr. Cooper Group Inc. will post 9.98 EPS for the current fiscal year.

Institutional Trading of Mr. Cooper Group

A number of institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. grew its position in Mr. Cooper Group by 77.1% in the 2nd quarter. Blue Trust Inc. now owns 333 shares of the company’s stock worth $26,000 after purchasing an additional 145 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Mr. Cooper Group by 8,275.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company’s stock worth $27,000 after acquiring an additional 331 shares in the last quarter. Quarry LP bought a new stake in Mr. Cooper Group during the 2nd quarter worth approximately $29,000. CWM LLC lifted its holdings in Mr. Cooper Group by 34.5% during the second quarter. CWM LLC now owns 601 shares of the company’s stock valued at $49,000 after purchasing an additional 154 shares in the last quarter. Finally, Perkins Coie Trust Co purchased a new stake in shares of Mr. Cooper Group in the second quarter worth $81,000. Hedge funds and other institutional investors own 89.82% of the company’s stock.

Mr. Cooper Group Company Profile

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.