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

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on COOP. Wedbush raised their price target on Mr. Cooper Group from $100.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Barclays boosted their target price on shares of Mr. Cooper Group from $94.00 to $103.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Piper Sandler raised their price target 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. Finally, Keefe, Bruyette & Woods cut shares of 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 report on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $91.88.

Mr. Cooper Group Price Performance

Shares of Mr. Cooper Group stock opened at $91.87 on Friday. The stock has a market cap of $5.95 billion, a price-to-earnings ratio of 9.62 and a beta of 1.41. The firm’s 50-day moving average is $87.57 and its two-hundred day moving average is $81.52. Mr. Cooper Group has a 1 year low of $52.46 and a 1 year high of $95.74.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings results on Thursday, July 25th. The company reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.33 by $0.19. The firm 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 company’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.66 EPS. On average, equities analysts expect that Mr. Cooper Group will post 9.86 earnings per share for the current year.

Insider Buying and Selling at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 25,000 shares of the firm’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $80.93, for a total value of $2,023,250.00. Following the completion of the sale, the chief executive officer now owns 259,631 shares in the company, valued at approximately $21,011,936.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.33% of the company’s stock.

Institutional Trading of Mr. Cooper Group

Several hedge funds and other institutional investors have recently bought and sold shares of COOP. Norges Bank purchased a new stake in shares of Mr. Cooper Group during the 4th quarter worth $47,104,000. LSV Asset Management lifted its position 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 valued at $51,440,000 after buying an additional 451,926 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Mr. Cooper Group by 198.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 663,530 shares of the company’s stock valued at $43,209,000 after buying an additional 441,282 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Mr. Cooper Group by 5.4% in the 4th quarter. Vanguard Group Inc. now owns 7,626,038 shares of the company’s stock worth $496,608,000 after buying an additional 391,780 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Mr. Cooper Group by 984.4% during 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 in the last quarter. Institutional investors own 89.82% of the company’s stock.

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.