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

by · The Cerbat Gem

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

Analysts Set New Price Targets

Several research analysts recently commented on COOP shares. Citizens Jmp cut Mr. Cooper Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 1st. Barclays boosted their target price on Mr. Cooper Group from $147.00 to $156.00 and gave the stock an “overweight” rating in a research note on Tuesday. Keefe, Bruyette & Woods boosted their target price on Mr. Cooper Group from $115.00 to $143.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 8th. UBS Group boosted their target price on Mr. Cooper Group from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, April 16th. Finally, Piper Sandler boosted their target price on Mr. Cooper Group from $143.00 to $158.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 1st. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $134.57.

Check Out Our Latest Analysis on COOP

Mr. Cooper Group Trading Down 0.5%

Shares of COOP stock opened at $148.36 on Friday. The company has a market cap of $9.49 billion, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 0.43 and a beta of 1.05. The stock has a 50 day simple moving average of $136.48 and a 200-day simple moving average of $117.22. Mr. Cooper Group has a 12-month low of $80.35 and a 12-month high of $158.00.

Mr. Cooper Group (NASDAQ:COOP – Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $2.97 earnings per share for the quarter, topping 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 15.27% and a net margin of 25.93%. The company’s revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.73 EPS. On average, equities analysts forecast that Mr. Cooper Group will post 13.17 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Jesse K. Bray sold 30,000 shares of the business’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $152.14, for a total value of $4,564,200.00. Following the sale, the chief executive officer owned 693,187 shares in the company, valued at approximately $105,461,470.18. The trade was a 4.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.73% of the company’s stock.

Institutional Investors Weigh In On Mr. Cooper Group

Several hedge funds have recently made changes to their positions in COOP. First Horizon Advisors Inc. acquired a new position in shares of Mr. Cooper Group in the 1st quarter valued at about $26,000. Picton Mahoney Asset Management raised its holdings in Mr. Cooper Group by 41.3% in the fourth quarter. Picton Mahoney Asset Management now owns 325 shares of the company’s stock valued at $31,000 after buying an additional 95 shares during the period. Allworth Financial LP raised its holdings in Mr. Cooper Group by 24.5% in the first quarter. Allworth Financial LP now owns 442 shares of the company’s stock valued at $51,000 after buying an additional 87 shares during the period. USA Financial Formulas purchased a new position in Mr. Cooper Group in the first quarter valued at approximately $55,000. Finally, SVB Wealth LLC purchased a new position in Mr. Cooper Group in the first quarter valued at approximately $62,000. Institutional investors and hedge funds own 89.82% of the company’s stock.

About Mr. Cooper Group

(Get Free Report)

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.

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