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

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

Analyst Ratings Changes

Several brokerages have issued reports on COOP. Barclays raised their price target on Mr. Cooper Group from $94.00 to $103.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Piper Sandler increased their price objective on shares of Mr. Cooper Group from $91.00 to $106.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods downgraded shares of Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 target price for the company. in a report on Monday, July 22nd. Finally, Wedbush upped their price target on shares of Mr. Cooper Group from $100.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $95.57.

Mr. Cooper Group Price Performance

NASDAQ COOP opened at $91.89 on Thursday. The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of 9.62 and a beta of 1.41. The business’s fifty day moving average is $90.29 and its 200-day moving average is $84.06. Mr. Cooper Group has a one year low of $52.46 and a one year high of $96.00.

Mr. Cooper Group (NASDAQ:COOP) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $552.09 million. Mr. Cooper Group had a return on equity of 14.10% and a net margin of 33.22%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.66 EPS. Research analysts expect that Mr. Cooper Group will post 9.86 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its stake in Mr. Cooper Group by 984.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 390,957 shares of the company’s stock worth $30,476,000 after acquiring an additional 354,905 shares during the last quarter. K2 Principal Fund L.P. raised its position in shares of Mr. Cooper Group by 97.7% during the 4th quarter. K2 Principal Fund L.P. now owns 279,510 shares of the company’s stock valued at $18,202,000 after buying an additional 138,147 shares in the last quarter. 1832 Asset Management L.P. bought a new stake in shares of Mr. Cooper Group during the 1st quarter worth $5,301,000. Allianz Asset Management GmbH grew its position in Mr. Cooper Group by 2,060.4% in the fourth quarter. Allianz Asset Management GmbH now owns 102,423 shares of the company’s stock worth $6,670,000 after acquiring an additional 97,682 shares in the last quarter. Finally, Sei Investments Co. increased its stake in Mr. Cooper Group by 68.2% in the first 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 during the last quarter. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

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.