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

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD increased its position in shares of Mr. Cooper Group by 984.4% in 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 buying an additional 354,905 shares in the last quarter. 1832 Asset Management L.P. purchased a new stake in Mr. Cooper Group during the 1st quarter worth about $5,301,000. Sei Investments Co. increased 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 worth $2,817,000 after purchasing an additional 14,652 shares in the last quarter. Waterfall Asset Management LLC purchased a new stake in Mr. Cooper Group during the 2nd quarter worth about $809,000. Finally, LSV Asset Management increased its position in Mr. Cooper Group by 36.3% during the 1st quarter. LSV Asset Management now owns 181,334 shares of the company’s stock worth $14,135,000 after purchasing an additional 48,334 shares in the last quarter. Hedge funds and other institutional investors own 89.82% of the company’s stock.

Wall Street Analyst Weigh In

COOP has been the subject of a number of research reports. Wedbush reiterated an “outperform” rating and issued a $115.00 price objective on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Barclays upped their price target 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. Piper Sandler upped their price target on Mr. Cooper Group from $91.00 to $106.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Keefe, Bruyette & Woods cut Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 price target for the company. in a research note on Monday, July 22nd. Finally, Compass Point upped their price target on Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $98.00.

Mr. Cooper Group Stock Performance

NASDAQ:COOP opened at $90.52 on Thursday. The stock has a fifty day moving average price of $91.99 and a two-hundred day moving average price of $86.33. The stock has a market capitalization of $5.79 billion, a price-to-earnings ratio of 9.48 and a beta of 1.40. Mr. Cooper Group has a 1 year low of $54.07 and a 1 year high of $97.35.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.30. The firm had revenue of $616.00 million during 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%. Mr. Cooper Group’s revenue was up 32.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.79 earnings per share. On average, analysts predict that Mr. Cooper Group will post 10.17 EPS for the current year.

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.