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

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wedbush raised their price target on Mr. Cooper Group from $100.00 to $115.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Barclays raised their price objective on Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods lowered Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 target price for the company. in a research note on Monday, July 22nd. Finally, Piper Sandler lifted 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. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Mr. Cooper Group has an average rating of “Moderate Buy” and an average price target of $96.29.

Institutional Investors Weigh In On Mr. Cooper Group

A number of large investors have recently added to or reduced their stakes in COOP. LSV Asset Management boosted its holdings 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 during the period. Goldman Sachs Group Inc. lifted its holdings in Mr. Cooper Group by 198.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 663,530 shares of the company’s stock worth $43,209,000 after buying an additional 441,282 shares during the period. 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. Price T Rowe Associates Inc. MD increased its stake in shares of Mr. Cooper Group by 984.4% during 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 during the period. Finally, Hantz Financial Services Inc. bought a new position in shares of Mr. Cooper Group during the second quarter valued at approximately $21,609,000. Institutional investors own 89.82% of the company’s stock.

Mr. Cooper Group Price Performance

Shares of COOP stock opened at $97.01 on Thursday. The business has a 50-day moving average of $91.46 and a 200 day moving average of $85.31. Mr. Cooper Group has a 1-year low of $52.50 and a 1-year high of $97.34. The stock has a market capitalization of $6.26 billion, a PE ratio of 9.17 and a beta of 1.40.

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