Mr. Cooper Group (NASDAQ:COOP) Downgraded to “Strong Sell” at ValuEngine

Mr. Cooper Group (NASDAQ:COOP) was downgraded by stock analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research note issued on Wednesday, ValuEngine reports.

Several other research firms also recently issued reports on COOP. Piper Sandler upgraded Mr. Cooper Group from an “underweight” rating to an “overweight” rating and increased their target price for the stock from $10.00 to $12.00 in a research report on Wednesday, March 18th. TheStreet downgraded Mr. Cooper Group from a “c-” rating to a “d+” rating in a research report on Tuesday, February 25th. BidaskClub downgraded Mr. Cooper Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 19th. Finally, Zacks Investment Research upgraded Mr. Cooper Group from a “hold” rating to a “strong-buy” rating and set a $15.00 target price on the stock in a research report on Friday, February 28th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $14.80.

Shares of NASDAQ:COOP traded up $0.85 during trading on Wednesday, hitting $6.95. 1,342,000 shares of the company were exchanged, compared to its average volume of 647,921. The company has a market cap of $501.15 million, a PE ratio of -5.74 and a beta of 0.39. The stock has a 50 day moving average of $11.35 and a 200 day moving average of $11.95. Mr. Cooper Group has a 52-week low of $5.25 and a 52-week high of $14.68. The company has a debt-to-equity ratio of 2.37, a current ratio of 1.80 and a quick ratio of 1.80.

Mr. Cooper Group (NASDAQ:COOP) last posted its earnings results on Tuesday, February 25th. The company reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.36. The firm had revenue of $618.00 million for the quarter, compared to the consensus estimate of $543.95 million. Mr. Cooper Group had a positive return on equity of 20.89% and a negative net margin of 5.68%. Sell-side analysts forecast that Mr. Cooper Group will post 4.35 EPS for the current fiscal year.

In other Mr. Cooper Group news, CFO Christopher G. Marshall acquired 2,749 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were bought at an average price of $9.50 per share, for a total transaction of $26,115.50. Following the completion of the transaction, the chief financial officer now owns 665,975 shares of the company’s stock, valued at approximately $6,326,762.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.93% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. Nuveen Asset Management LLC raised its position in shares of Mr. Cooper Group by 15.4% in the fourth quarter. Nuveen Asset Management LLC now owns 1,189,093 shares of the company’s stock worth $14,876,000 after buying an additional 159,000 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Mr. Cooper Group by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 1,029,995 shares of the company’s stock worth $12,885,000 after buying an additional 53,648 shares in the last quarter. Algert Global LLC raised its position in shares of Mr. Cooper Group by 18.8% in the fourth quarter. Algert Global LLC now owns 134,104 shares of the company’s stock worth $1,678,000 after buying an additional 21,248 shares in the last quarter. Alberta Investment Management Corp purchased a new stake in shares of Mr. Cooper Group in the fourth quarter worth $210,000. Finally, Bank of America Corp DE raised its position in shares of Mr. Cooper Group by 29.8% in the fourth quarter. Bank of America Corp DE now owns 180,648 shares of the company’s stock worth $2,260,000 after buying an additional 41,522 shares in the last quarter. Institutional investors own 82.85% of the company’s stock.

About Mr. Cooper Group

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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