Mr. Cooper Group Sees Unusually Large Options Volume (NASDAQ:COOP)

Mr. Cooper Group Inc. (NASDAQ:COOP) was the recipient of some unusual options trading activity on Wednesday. Traders acquired 10,613 call options on the stock. This represents an increase of approximately 3,637% compared to the typical volume of 284 call options.

Institutional Trading of Mr. Cooper Group

Institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its position in shares of Mr. Cooper Group by 984.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 390,957 shares of the company’s stock valued at $30,476,000 after acquiring an additional 354,905 shares during the last quarter. 1832 Asset Management L.P. purchased a new position in Mr. Cooper Group during the 1st quarter valued at about $5,301,000. Sei Investments Co. boosted its position in Mr. Cooper Group by 68.2% during the 1st quarter. Sei Investments Co. now owns 36,139 shares of the company’s stock valued at $2,817,000 after acquiring an additional 14,652 shares in the last quarter. Waterfall Asset Management LLC bought a new stake in shares of Mr. Cooper Group in the 2nd quarter worth approximately $809,000. Finally, LSV Asset Management lifted its position in Mr. Cooper Group by 36.3% in the 1st quarter. LSV Asset Management now owns 181,334 shares of the company’s stock valued at $14,135,000 after acquiring an additional 48,334 shares in the last quarter. 89.82% of the stock is currently owned by institutional investors.

Mr. Cooper Group Stock Up 0.4 %

Mr. Cooper Group stock traded up $0.34 during mid-day trading on Friday, hitting $88.89. 151,491 shares of the company were exchanged, compared to its average volume of 444,574. Mr. Cooper Group has a 1-year low of $54.07 and a 1-year high of $97.35. The company has a market capitalization of $5.69 billion, a PE ratio of 11.44 and a beta of 1.40. The business has a fifty day moving average of $91.99 and a 200 day moving average of $86.33.

Mr. Cooper Group (NASDAQ:COOP) last issued its earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.54 by $0.30. The firm had revenue of $616.00 million for the quarter, compared to analysts’ expectations of $548.09 million. Mr. Cooper Group had a return on equity of 13.77% and a net margin of 25.87%. The company’s revenue was up 32.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.79 earnings per share. Research analysts expect that Mr. Cooper Group will post 10.17 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently commented on COOP. Keefe, Bruyette & Woods lowered shares of Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 price target on the stock. in a research note on Monday, July 22nd. Wedbush reaffirmed an “outperform” rating and issued a $115.00 price target on shares of Mr. Cooper Group in a report on Thursday, October 24th. Compass Point upped their price target on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Barclays upped their target price on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Finally, Piper Sandler raised their price target on shares of Mr. Cooper Group from $91.00 to $106.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $98.00.

Mr. Cooper Group Company Profile

Mr. Cooper Group Inc, together with its subsidiaries, operates as a non-bank servicer of residential mortgage loans in the United States. The company operates through Servicing and Originations segments. The Servicing segment performs activities on behalf of investors or owners of the underlying mortgages and mortgage servicing rights, including collecting and disbursing borrower payments, investor reporting, customer service, modifying loans, performing collections, foreclosures, and the sale of real estate owned.