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

Mr. Cooper Group Inc. (NASDAQ:COOP) saw some unusual options trading activity on Wednesday. Investors purchased 10,613 call options on the stock. This is an increase of 3,637% compared to the typical daily volume of 284 call options.

Mr. Cooper Group Price Performance

Shares of NASDAQ:COOP opened at $96.27 on Friday. The firm has a market capitalization of $6.23 billion, a price-to-earnings ratio of 10.08 and a beta of 1.40. The business’s 50 day simple moving average is $91.66 and its 200-day simple moving average is $85.38. Mr. Cooper Group has a 12 month low of $52.50 and a 12 month high of $97.35.

Mr. Cooper Group (NASDAQ:COOP) last posted its earnings results on Thursday, July 25th. The company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.33 by $0.19. Mr. Cooper Group had a return on equity of 14.10% and a net margin of 33.22%. The company had revenue of $583.00 million for the quarter, compared to the consensus estimate of $552.09 million. During the same period in the previous year, the business earned $1.66 earnings per share. Mr. Cooper Group’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, equities analysts anticipate that Mr. Cooper Group will post 9.98 earnings per share for the current year.

Institutional Investors Weigh In On Mr. Cooper Group

A number of large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. raised its position in 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 stake in shares of Mr. Cooper Group by 8,275.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company’s stock worth $27,000 after purchasing an additional 331 shares in the last quarter. Quarry LP acquired a new position in shares of Mr. Cooper Group during the 2nd quarter worth approximately $29,000. CWM LLC lifted its stake in Mr. Cooper Group by 34.5% in the 2nd quarter. CWM LLC now owns 601 shares of the company’s stock valued at $49,000 after buying an additional 154 shares in the last quarter. Finally, Perkins Coie Trust Co acquired a new stake in Mr. Cooper Group during the 2nd quarter valued at $81,000. 89.82% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

COOP has been the subject of several recent analyst reports. Piper Sandler raised their target price on shares of Mr. Cooper Group from $91.00 to $106.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Wedbush boosted their target price on Mr. Cooper Group from $100.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Barclays increased their target price on Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Finally, Keefe, Bruyette & Woods downgraded 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. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $96.29.

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.