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. Stock investors bought 10,613 call options on the stock. This represents an increase of approximately 3,637% compared to the typical volume of 284 call options.

Wall Street Analyst Weigh In

COOP has been the subject of a number of research analyst reports. 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 research report on Monday, July 22nd. Wedbush restated an “outperform” rating and set a $115.00 price target on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Barclays raised their target price on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Compass Point raised their target price on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Piper Sandler increased their price target on shares of Mr. Cooper Group from $91.00 to $106.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $98.00.

Mr. Cooper Group Price Performance

Shares of NASDAQ:COOP opened at $90.52 on Thursday. Mr. Cooper Group has a one year low of $54.07 and a one year high of $97.35. The company has a 50 day moving average of $91.99 and a 200-day moving average of $86.33. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of 9.48 and a beta of 1.40.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.30. The firm had revenue of $616.00 million for the quarter, compared to analyst estimates of $548.09 million. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%. The business’s revenue was up 32.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.79 earnings per share. Equities research analysts anticipate that Mr. Cooper Group will post 10.17 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 COOP. Blue Trust Inc. grew its stake 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 buying an additional 145 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Mr. Cooper Group by 8,275.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company’s stock worth $27,000 after buying an additional 331 shares during the last quarter. Quarry LP acquired a new position in Mr. Cooper Group in the 2nd quarter worth about $29,000. Financial Management Professionals Inc. acquired a new position in shares of Mr. Cooper Group in the third quarter valued at approximately $30,000. Finally, CWM LLC raised its holdings 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 during the last quarter. Institutional investors own 89.82% of the company’s stock.

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.