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

Mr. Cooper Group Inc. (NASDAQ:COOP) was the target of unusually large options trading on Wednesday. Traders bought 10,613 call options on the company. This is an increase of approximately 3,637% compared to the typical volume of 284 call options.

Mr. Cooper Group Stock Up 0.7%

NASDAQ:COOP opened at $129.71 on Friday. The business’s 50-day simple moving average is $114.42 and its two-hundred day simple moving average is $105.08. The stock has a market cap of $8.30 billion, a PE ratio of 12.74, a P/E/G ratio of 0.32 and a beta of 1.06. Mr. Cooper Group has a 52 week low of $78.20 and a 52 week high of $137.60.

Mr. Cooper Group (NASDAQ:COOP) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.16. The business had revenue of $560.00 million for the quarter, compared to analysts’ expectations of $620.57 million. Mr. Cooper Group had a return on equity of 14.76% and a net margin of 30.07%. The business’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the firm earned $2.73 earnings per share. Sell-side analysts anticipate that Mr. Cooper Group will post 13.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jesse K. Bray sold 30,000 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $112.24, for a total value of $3,367,200.00. Following the transaction, the chief executive officer now directly owns 698,821 shares in the company, valued at $78,435,669.04. This trade represents a 4.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.33% of the company’s stock.

Institutional Investors Weigh In On Mr. Cooper Group

A number of hedge funds have recently made changes to their positions in COOP. Barclays PLC lifted its position in shares of Mr. Cooper Group by 198.0% in the third quarter. Barclays PLC now owns 132,017 shares of the company’s stock worth $12,170,000 after buying an additional 87,712 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its position in shares of Mr. Cooper Group by 9,175.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 4,916 shares of the company’s stock worth $472,000 after buying an additional 4,863 shares in the last quarter. Dakota Wealth Management lifted its position in shares of Mr. Cooper Group by 0.7% in the fourth quarter. Dakota Wealth Management now owns 27,695 shares of the company’s stock worth $2,659,000 after buying an additional 181 shares in the last quarter. CX Institutional lifted its position in shares of Mr. Cooper Group by 3.7% in the fourth quarter. CX Institutional now owns 16,211 shares of the company’s stock worth $1,556,000 after buying an additional 579 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Mr. Cooper Group by 94.2% in the fourth quarter. Blue Trust Inc. now owns 1,111 shares of the company’s stock worth $102,000 after buying an additional 539 shares in the last quarter. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on COOP. UBS Group lifted their target price on Mr. Cooper Group from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Wednesday, April 16th. Keefe, Bruyette & Woods lifted their target price on Mr. Cooper Group from $115.00 to $143.00 and gave the company a “market perform” rating in a research report on Tuesday, April 8th. Piper Sandler downgraded Mr. Cooper Group from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $125.00 to $143.00 in a research report on Friday, April 4th. Citizens Jmp downgraded Mr. Cooper Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 1st. Finally, JMP Securities reiterated a “market outperform” rating and set a $115.00 target price on shares of Mr. Cooper Group in a research report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $131.14.

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.