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

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

Insider Buying and Selling at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 25,000 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $80.93, for a total transaction of $2,023,250.00. Following the transaction, the chief executive officer now directly owns 259,631 shares in the company, valued at $21,011,936.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.33% of the company’s stock.

Institutional Trading of Mr. Cooper Group

A number of hedge funds have recently added to or reduced their stakes in COOP. Vanguard Group Inc. raised its position in shares of Mr. Cooper Group by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 7,668,898 shares of the company’s stock valued at $597,791,000 after buying an additional 42,860 shares during the period. Wellington Management Group LLP raised its stake in shares of Mr. Cooper Group by 1.5% in the fourth quarter. Wellington Management Group LLP now owns 1,714,900 shares of the company’s stock valued at $111,674,000 after acquiring an additional 25,351 shares in the last quarter. Norges Bank purchased a new position in shares of Mr. Cooper Group in the 4th quarter valued at about $47,104,000. Goldman Sachs Group Inc. lifted its stake in Mr. Cooper Group by 198.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 663,530 shares of the company’s stock worth $43,209,000 after acquiring an additional 441,282 shares during the last quarter. Finally, LSV Asset Management grew its stake in shares of Mr. Cooper Group by 249.2% during the second quarter. LSV Asset Management now owns 633,260 shares of the company’s stock worth $51,440,000 after purchasing an additional 451,926 shares in the last quarter. 89.82% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Piper Sandler lifted their price objective on Mr. Cooper Group from $91.00 to $106.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Barclays increased their target price on Mr. Cooper Group from $94.00 to $103.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. 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 report on Monday, July 22nd. Finally, Wedbush increased their price target on Mr. Cooper Group from $100.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Mr. Cooper Group currently has an average rating of “Moderate Buy” and an average target price of $91.88.

Mr. Cooper Group Trading Down 0.9 %

Shares of NASDAQ:COOP opened at $93.63 on Thursday. The business’s fifty day simple moving average is $89.25 and its 200-day simple moving average is $82.69. Mr. Cooper Group has a 12-month low of $52.46 and a 12-month high of $96.00. The company has a market capitalization of $6.06 billion, a PE ratio of 9.79 and a beta of 1.41.

Mr. Cooper Group (NASDAQ:COOP) last posted its quarterly earnings results on Thursday, July 25th. The company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.19. The business had revenue of $583.00 million during the quarter, compared to analysts’ expectations of $552.09 million. Mr. Cooper Group had a net margin of 33.22% and a return on equity of 14.10%. The business’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the company posted $1.66 earnings per share. Research analysts predict that Mr. Cooper Group will post 9.86 EPS for the current year.

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.