Mr. Cooper Group (NASDAQ: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 note released on Tuesday morning, 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. “

Separately, Credit Suisse Group raised their price objective on Mr. Cooper Group from $41.00 to $45.00 and gave the company an outperform rating in a research report on Friday, July 30th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Mr. Cooper Group has an average rating of Buy and a consensus price target of $38.75.

COOP opened at $40.29 on Tuesday. Mr. Cooper Group has a 12-month low of $19.89 and a 12-month high of $41.77. The business’s fifty day simple moving average is $37.38 and its 200-day simple moving average is $35.01. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of 2.69 and a beta of 1.65.

Mr. Cooper Group (NASDAQ:COOP) last posted its quarterly earnings results on Thursday, July 29th. The company reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.32. Mr. Cooper Group had a return on equity of 34.60% and a net margin of 38.03%. On average, equities analysts forecast that Mr. Cooper Group will post 8.14 EPS for the current fiscal year.

In other Mr. Cooper Group news, EVP Eldridge A. Burns sold 3,436 shares of the stock in a transaction dated Friday, September 3rd. The stock was sold at an average price of $39.90, for a total value of $137,096.40. Following the completion of the sale, the executive vice president now directly owns 26,845 shares in the company, valued at $1,071,115.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert H. Gidel sold 40,000 shares of the stock in a transaction dated Thursday, August 19th. The shares were sold at an average price of $37.56, for a total value of $1,502,400.00. Following the completion of the sale, the director now owns 3,451 shares of the company’s stock, valued at $129,619.56. The disclosure for this sale can be found here. 2.17% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in Mr. Cooper Group by 6.1% during the first quarter. BlackRock Inc. now owns 11,333,892 shares of the company’s stock valued at $393,968,000 after acquiring an additional 655,652 shares in the last quarter. State Street Corp grew its holdings in Mr. Cooper Group by 1.7% in the second quarter. State Street Corp now owns 3,449,575 shares of the company’s stock valued at $114,043,000 after purchasing an additional 58,377 shares during the period. Morgan Stanley grew its holdings in Mr. Cooper Group by 43.6% in the second quarter. Morgan Stanley now owns 3,097,813 shares of the company’s stock valued at $102,414,000 after purchasing an additional 939,957 shares during the period. Requisite Capital Management LLC acquired a new stake in Mr. Cooper Group in the second quarter valued at approximately $86,001,000. Finally, Inherent Group LP grew its holdings in Mr. Cooper Group by 35.4% in the second quarter. Inherent Group LP now owns 1,698,479 shares of the company’s stock valued at $56,152,000 after purchasing an additional 444,495 shares during the period. Hedge funds and other institutional investors own 89.58% of the company’s stock.

Mr. Cooper Group Company Profile

Mr. Cooper Group, Inc engages in the provision of residential loan services. It operated through the following segments: Servicing, Originations, Xome, and Corporate/Other. The Servicing segment consists of collecting loan payments, remitting principal and interest payments to investors, managing escrow funds for the payment of mortgage-related expenses, such as taxes and insurance, performing loss mitigation activities on behalf of investors and otherwise administering mortgage loan servicing portfolio.

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