Mr. Cooper Group (COOP) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research downgraded shares of Mr. Cooper Group (NASDAQ:COOP) from a buy rating to a hold rating in a research report released on Monday, 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. “

Several other research firms have also commented on COOP. ValuEngine lowered Mr. Cooper Group from a hold rating to a sell rating in a research report on Tuesday, March 19th. Piper Jaffray Companies lowered Mr. Cooper Group from a neutral rating to an underweight rating in a research report on Wednesday, March 20th. Wedbush set a $13.50 price objective on Mr. Cooper Group and gave the company an outperform rating in a research report on Tuesday, March 26th. Finally, Barclays set a $18.00 price objective on Mr. Cooper Group and gave the company a hold rating in a research report on Friday, March 8th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $15.63.

NASDAQ:COOP opened at $9.10 on Monday. The company has a debt-to-equity ratio of 3.63, a quick ratio of 2.06 and a current ratio of 2.06. Mr. Cooper Group has a 12 month low of $8.05 and a 12 month high of $20.04.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.17 by $0.33. Mr. Cooper Group had a return on equity of 62.93% and a net margin of 47.66%. The company had revenue of $250.00 million for the quarter, compared to analyst estimates of $455.10 million. Research analysts anticipate that Mr. Cooper Group will post 1.45 earnings per share for the current fiscal year.

In other Mr. Cooper Group news, Vice Chairman Christopher G. Marshall bought 110,000 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were acquired at an average cost of $9.08 per share, with a total value of $998,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jesse K. Bray bought 52,910 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were acquired at an average cost of $9.36 per share, for a total transaction of $495,237.60. The disclosure for this purchase can be found here. 0.93% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Virtu Financial LLC bought a new stake in Mr. Cooper Group in the fourth quarter valued at about $124,000. Meeder Asset Management Inc. bought a new position in shares of Mr. Cooper Group during the fourth quarter valued at approximately $158,000. Regent Investment Management LLC bought a new position in shares of Mr. Cooper Group during the fourth quarter valued at approximately $180,000. Strs Ohio bought a new position in shares of Mr. Cooper Group during the fourth quarter valued at approximately $701,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Mr. Cooper Group during the fourth quarter valued at approximately $56,000. 86.27% of the stock is currently owned by institutional investors and hedge funds.

Mr. Cooper Group Company Profile

Mr. Cooper Group Inc provides servicing, origination, and transaction-based services related principally to single-family residences in the United States. The company operates through three segments: Servicing, Originations, and Xome. The Servicing segment performs activities for originated and purchased loans, as well as operates as a subservicer for various clients that own the underlying servicing rights.

Read More: Why do company’s buyback their stock?

Get a free copy of the Zacks research report on Mr. Cooper Group (COOP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Mr. Cooper Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mr. Cooper Group and related companies with MarketBeat.com's FREE daily email newsletter.