Omega Advisors, Inc. recently announced the acquisition of new stake in Mr. Cooper Group Inc. (NASDAQ:COOP). The institutional investor has increased its shareholding in the Financial company by 4.32% to 4.15 million shares with purchase of 0.17 million shares. This fresh investment now brings its stake to 4.51% valued currently at $67.78 million.
With over 1.05 million Mr. Cooper Group Inc. (COOP) shares trading Tuesday and a closing price of $19.19 on the day, the dollar volume was approximately $20.2 million. The shares have shown a positive weekly performance of 3.56% and its price on 09/01/20 gained nearly 4.72%. Currently, there are 92.00M common shares owned by the public and among those 75.61M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for COOP have a consensus price objective of $23.00. The analysts have set the share’s price value over the next 12 months at a high of $25.00 and a low of $21.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Mr. Cooper Group Inc. stock is 1.80 for the next 12 months. The average price target is 16.57% above its last price level and an upside to the estimated low will see the stock gain 8.62% over that period. But an upside of 23.24% will see the stock hit the forecast high price target while mean target price for the stock is $24.00.
Insiders at the company have transacted a total of 13 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 9 of these insider trades were purchases, accounting for 201,277 shares. Insider sales of the common stock occurred on 4 occasions, with total insider shares sold totaling 232,115 shares.
The top 3 mutual fund holders in Mr. Cooper Group Inc. are Vanguard Total Stock Market Index, Diamond Hill Small Mid Cap Fund, and iShares Russell 2000 ETF. Vanguard Total Stock Market Index owns 2.04 million shares of the company’s stock, all valued at over $33.25 million. The company bought an additional 670.0 shares recently to bring their total holdings to about 2.21% of the shares outstanding. iShares Russell 2000 ETF sold 74018.0 shares to bring its total holdings to over 1.58 million shares at a value of $25.85 million. iShares Russell 2000 ETF now owns shares totaling to 1.72% of the shares outstanding.
Shares of Mr. Cooper Group Inc. (NASDAQ: COOP) opened at $18.18, down -$0.15 from a prior closing price of $18.33. However, the script later closed the day at $19.19, up 4.72%. The company’s stock has a 5-day price change of 3.56% and 60.99% over the past three months. COOP shares are trading 53.40% year to date (YTD), with the 12-month market performance up to 121.34% higher. It has a 12-month low price of $4.31 and touched a high of $19.63 over the same period. Currently, 1.05 million shares have been traded, compared to an average intraday trading volume of 926.99K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 5.73%, 27.03%, and 58.07% respectively.
Institutional ownership of Mr. Cooper Group Inc. (NASDAQ: COOP) shares accounts for 84.90% of the company’s 92.00M shares outstanding. Mutual fund holders own 45.83%, while other institutional holders and individual stakeholders account for 5.02% and 22.45% respectively.
It has a market capitalization of $1.73B and a beta (3y monthly) value of 1.32. The stock’s trailing 12-month PE ratio is 4.12, while the earnings-per-share (ttm) stands at $4.66. The company has a PEG of 0.20 and the debt-to-equity ratio at 5.88. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.01% over the week and 4.54% over the month.
Analysts forecast that Mr. Cooper Group Inc. (COOP) will achieve an EPS of $2.47 for the current quarter, $1.6 for the next quarter and $4.26 for 2021. The lowest estimate earnings-per-share for the quarter is $1.94 while analysts give the company a high EPS estimate of $2.78. Comparatively, EPS for the current quarter was $1.41 a year ago. Earnings per share for the fiscal year are expected to decrease by -73.70%, and -46.03% over the next financial year. EPS should shrink at an annualized rate of 20.76% over the next five years, compared to 57.70% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate Mr. Cooper Group Inc. (COOP) as a “Strong Buy” at a consensus score of 1.80. Specifically, 5 Wall Street analysts polled rate the stock as a buy, while 0 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the COOP, a number of firms have released research notes about the stock. Barclays stated their Overweight rating for the stock in a research note on July 31, 2020, with the firm’s price target at $11-$24. Wedbush coverage for the Mr. Cooper Group Inc. (COOP) stock in a research note released on May 15, 2020 offered a Outperform rating with a price target of $13. Piper Sandler was of a view on April 09, 2020 that the stock is Underweight, while Wedbush gave the stock Neutral rating on April 07, 2020, issuing a price target of $15- $10. Piper Sandler on their part issued Overweight rating on March 18, 2020.