Mr. Cooper Group Target of Unusually High Options Trading (NASDAQ:COOP)

Mr. Cooper Group Inc. (NASDAQ:COOP) was the recipient of unusually large options trading on Wednesday. Traders bought 10,613 call options on the stock. This is an increase of 3,637% compared to the average volume of 284 call options.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on COOP shares. Barclays upped their price objective on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Piper Sandler raised their price target on shares of Mr. Cooper Group from $91.00 to $106.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Wedbush reiterated an “outperform” rating and set a $115.00 price objective on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Compass Point raised their target price on Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, Keefe, Bruyette & Woods downgraded Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 price objective for the company. in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $98.00.

Mr. Cooper Group Trading Up 0.3 %

NASDAQ COOP traded up $0.29 during trading hours on Thursday, reaching $97.99. The company had a trading volume of 14,196 shares, compared to its average volume of 451,426. Mr. Cooper Group has a 1-year low of $56.64 and a 1-year high of $103.05. The stock has a market capitalization of $6.27 billion, a P/E ratio of 12.66 and a beta of 1.40. The stock has a 50-day moving average of $92.64 and a 200 day moving average of $87.58.

Mr. Cooper Group (NASDAQ:COOP) last released its earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share 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 analyst estimates of $548.09 million. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%. The business’s quarterly revenue was up 32.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.79 earnings per share. As a group, sell-side analysts predict that Mr. Cooper Group will post 10.17 EPS for the current year.

Insider Buying and Selling

In other news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $88.41, for a total transaction of $2,652,300.00. Following the completion of the transaction, the chief executive officer now directly owns 818,821 shares of the company’s stock, valued at $72,391,964.61. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mr. Cooper Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. grew its position in shares of Mr. Cooper Group by 77.1% during the second quarter. Blue Trust Inc. now owns 333 shares of the company’s stock worth $26,000 after acquiring an additional 145 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Mr. Cooper Group by 8,275.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company’s stock valued at $27,000 after acquiring an additional 331 shares during the period. Quarry LP purchased a new stake in Mr. Cooper Group during the 2nd quarter valued at approximately $29,000. Financial Management Professionals Inc. acquired a new stake in Mr. Cooper Group during the 3rd quarter worth approximately $30,000. Finally, Harvest Fund Management Co. Ltd increased its holdings in shares of Mr. Cooper Group by 152.5% in the third quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock valued at $41,000 after purchasing an additional 270 shares during the period. Institutional investors and hedge funds own 89.82% of the company’s stock.

About Mr. Cooper Group

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.