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

Mr. Cooper Group Inc. (NASDAQ:COOP) was the recipient of some unusual options trading on Wednesday. Stock investors purchased 10,613 call options on the stock. This represents an increase of approximately 3,637% compared to the average daily volume of 284 call options.

Analyst Ratings Changes

A number of analysts recently weighed in on COOP shares. Compass Point raised their price target on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Wedbush reissued an “outperform” rating and issued a $115.00 target price on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Finally, Barclays upped their price target on Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $100.57.

Mr. Cooper Group Stock Performance

Shares of Mr. Cooper Group stock opened at $95.75 on Friday. The firm has a fifty day moving average of $95.43 and a two-hundred day moving average of $90.71. The stock has a market capitalization of $6.13 billion, a price-to-earnings ratio of 12.37 and a beta of 1.41. Mr. Cooper Group has a 52 week low of $61.38 and a 52 week high of $103.05.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.30. Mr. Cooper Group had a return on equity of 13.77% and a net margin of 25.87%. The business had revenue of $616.00 million during the quarter, compared to the consensus estimate of $548.09 million. During the same quarter in the prior year, the company posted $2.79 earnings per share. The firm’s revenue was up 32.8% on a year-over-year basis. As a group, research analysts forecast that Mr. Cooper Group will post 10.16 EPS for the current fiscal year.

Insider Buying and Selling at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $97.58, for a total value of $2,927,400.00. Following the completion of the sale, the chief executive officer now owns 788,821 shares in the company, valued at approximately $76,973,153.18. This trade represents a 3.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.33% of the company’s stock.

Institutional Trading of Mr. Cooper Group

A number of hedge funds have recently modified their holdings of the company. State Street Corp grew its holdings in Mr. Cooper Group by 1.9% during the third quarter. State Street Corp now owns 2,726,946 shares of the company’s stock valued at $251,370,000 after purchasing an additional 51,667 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Mr. Cooper Group by 11.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,247,434 shares of the company’s stock valued at $114,988,000 after buying an additional 125,055 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Mr. Cooper Group by 6.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 916,365 shares of the company’s stock valued at $84,471,000 after buying an additional 52,001 shares in the last quarter. LSV Asset Management raised its stake in Mr. Cooper Group by 249.2% during the 2nd quarter. LSV Asset Management now owns 633,260 shares of the company’s stock worth $51,440,000 after buying an additional 451,926 shares during the period. Finally, Basswood Capital Management L.L.C. lifted its holdings in Mr. Cooper Group by 36.6% during the third quarter. Basswood Capital Management L.L.C. now owns 496,243 shares of the company’s stock worth $45,744,000 after acquiring an additional 132,970 shares in the last quarter. 89.82% of the stock is currently owned by institutional investors and hedge funds.

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.