Mr. Cooper Group (NASDAQ:COOP) Trading Up 12.2% Following Strong Earnings

Mr. Cooper Group Inc (NASDAQ:COOP)’s stock price was up 12.2% during mid-day trading on Thursday following a stronger than expected earnings report. The company traded as high as $9.25 and last traded at $8.54, approximately 1,824,846 shares were traded during trading. An increase of 118% from the average daily volume of 836,776 shares. The stock had previously closed at $7.61.

The company reported $1.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.96. The firm had revenue of $399.00 million for the quarter, compared to the consensus estimate of $249.10 million. Mr. Cooper Group had a return on equity of 62.93% and a net margin of 47.66%.

Several research analysts have recently commented on COOP shares. Zacks Investment Research upgraded Mr. Cooper Group from a “hold” rating to a “strong-buy” rating and set a $11.00 price objective on the stock in a report on Tuesday, May 28th. ValuEngine upgraded Mr. Cooper Group from a “sell” rating to a “hold” rating in a report on Thursday, May 23rd. Wedbush lifted their price objective on Mr. Cooper Group from $10.00 to $12.00 and gave the stock an “outperform” rating in a report on Friday. Finally, TheStreet downgraded Mr. Cooper Group from a “c” rating to a “d” rating in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Mr. Cooper Group presently has an average rating of “Buy” and a consensus target price of $15.50.

In other Mr. Cooper Group news, CEO Jesse K. Bray purchased 52,910 shares of Mr. Cooper Group stock in a transaction that occurred on Thursday, May 9th. The shares were bought at an average price of $9.36 per share, for a total transaction of $495,237.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Vice Chairman Christopher G. Marshall purchased 110,000 shares of Mr. Cooper Group stock in a transaction that occurred on Monday, May 6th. The shares were acquired at an average price of $9.08 per share, for a total transaction of $998,800.00. The disclosure for this purchase can be found here. 0.93% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in COOP. PNC Financial Services Group Inc. increased its holdings in Mr. Cooper Group by 60.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,768 shares of the company’s stock valued at $36,000 after purchasing an additional 1,422 shares during the period. Royce & Associates LP bought a new stake in Mr. Cooper Group during the 1st quarter valued at approximately $46,000. Great West Life Assurance Co. Can bought a new stake in Mr. Cooper Group during the 4th quarter valued at approximately $99,000. SG Americas Securities LLC bought a new stake in Mr. Cooper Group during the 1st quarter valued at approximately $139,000. Finally, Regent Investment Management LLC boosted its position in Mr. Cooper Group by 19.3% during the 2nd quarter. Regent Investment Management LLC now owns 18,524 shares of the company’s stock valued at $148,000 after acquiring an additional 3,000 shares in the last quarter. Institutional investors own 83.75% of the company’s stock.

The stock’s 50-day moving average is $7.71. The company has a quick ratio of 2.06, a current ratio of 2.06 and a debt-to-equity ratio of 3.63.

Mr. Cooper Group Company Profile (NASDAQ:COOP)

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.

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