Mr. Cooper Group (COOP) Stock Is Up, What You Need To Know

What Happened?

Shares of mortgage servicing company Mr. Cooper Group (NASDAQ:COOP) jumped 3.4% in the morning session after an analyst at Jefferies significantly raised their price target on the stock. The analyst at Jefferies boosted the price target on the mortgage servicer to $150 from $110, a substantial 36% increase, while maintaining a "Hold" rating on the shares.

After the initial pop the shares cooled down to $168.39, up 4.6% from previous close.

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What Is The Market Telling Us

Mr. Cooper Group’s shares are somewhat volatile and have had 11 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.

Mr. Cooper Group is up 79.1% since the beginning of the year, and at $168.39 per share, has set a new 52-week high. Investors who bought $1,000 worth of Mr. Cooper Group’s shares 5 years ago would now be looking at an investment worth $12,566.

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