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

Mr. Cooper Group Inc. (NASDAQ:COOP) saw some unusual options trading activity on Wednesday. Stock investors acquired 10,613 call options on the company. This is an increase of 3,637% compared to the typical volume of 284 call options.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Keefe, Bruyette & Woods lowered shares of Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 price target on the stock. in a research report on Monday, July 22nd. Piper Sandler increased 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 report on Friday, July 26th. Wedbush lifted their price objective on Mr. Cooper Group from $100.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Barclays lifted 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. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $91.88.

Insider Buying and Selling at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 25,000 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $80.93, for a total transaction of $2,023,250.00. Following the completion of the sale, the chief executive officer now directly owns 259,631 shares of the company’s stock, valued at $21,011,936.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mr. Cooper Group

Several large investors have recently modified their holdings of COOP. Quadrant Capital Group LLC lifted its holdings in shares of Mr. Cooper Group by 24.0% in the 4th quarter. Quadrant Capital Group LLC now owns 2,737 shares of the company’s stock worth $178,000 after purchasing an additional 530 shares in the last quarter. Norges Bank purchased a new stake in shares of Mr. Cooper Group during the 4th quarter worth approximately $47,104,000. Quest Partners LLC bought a new position in Mr. Cooper Group during the fourth quarter valued at $61,000. Assetmark Inc. increased its holdings in Mr. Cooper Group by 3.2% in the 4th quarter. Assetmark Inc. now owns 9,736 shares of the company’s stock worth $634,000 after acquiring an additional 299 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Mr. Cooper Group by 53.8% in the fourth quarter. Franklin Resources Inc. now owns 31,169 shares of the company’s stock worth $2,030,000 after purchasing an additional 10,900 shares in the last quarter. 89.82% of the stock is currently owned by institutional investors and hedge funds.

Mr. Cooper Group Price Performance

NASDAQ:COOP opened at $93.63 on Thursday. The company has a market cap of $6.06 billion, a P/E ratio of 9.79 and a beta of 1.41. Mr. Cooper Group has a one year low of $52.46 and a one year high of $96.00. The firm’s fifty day moving average price is $89.25 and its two-hundred day moving average price is $82.69.

Mr. Cooper Group (NASDAQ:COOP) last posted its quarterly earnings results on Thursday, July 25th. The company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.33 by $0.19. The company had revenue of $583.00 million during the quarter, compared to analysts’ expectations of $552.09 million. Mr. Cooper Group had a return on equity of 14.10% and a net margin of 33.22%. Mr. Cooper Group’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.66 EPS. As a group, equities research analysts expect that Mr. Cooper Group will post 9.86 earnings per share 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.