Mr. Cooper Group Target of Unusually Large Options Trading (NASDAQ:COOP)

Mr. Cooper Group Inc. (NASDAQ:COOP) was the recipient of unusually large options trading activity on Wednesday. Investors purchased 10,613 call options on the company. This represents an increase of approximately 3,637% compared to the average volume of 284 call options.

Hedge Funds Weigh In On Mr. Cooper Group

Hedge funds have recently made changes to their positions in the business. LSV Asset Management boosted its position 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 purchasing an additional 451,926 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Mr. Cooper Group by 198.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 663,530 shares of the company’s stock worth $43,209,000 after buying an additional 441,282 shares during the period. Vanguard Group Inc. grew its stake in shares of Mr. Cooper Group by 5.4% in the fourth quarter. Vanguard Group Inc. now owns 7,626,038 shares of the company’s stock valued at $496,608,000 after buying an additional 391,780 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Mr. Cooper Group by 984.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 390,957 shares of the company’s stock valued at $30,476,000 after buying an additional 354,905 shares during the period. Finally, Hantz Financial Services Inc. acquired a new position in Mr. Cooper Group during the 2nd quarter worth approximately $21,609,000. Hedge funds and other institutional investors own 89.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on COOP shares. Piper Sandler increased their price target on Mr. Cooper Group from $91.00 to $106.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Wedbush increased their target price on Mr. Cooper Group from $100.00 to $115.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods cut Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 price target for the company. in a report on Monday, July 22nd. Finally, Barclays increased their price objective on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $96.29.

Mr. Cooper Group Price Performance

Shares of NASDAQ:COOP opened at $96.27 on Friday. The business has a 50-day moving average of $91.66 and a two-hundred day moving average of $85.38. The firm has a market capitalization of $6.23 billion, a PE ratio of 10.08 and a beta of 1.40. Mr. Cooper Group has a 12 month low of $52.50 and a 12 month high of $97.35.

Mr. Cooper Group (NASDAQ:COOP) last posted its earnings results on Thursday, July 25th. The company reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.33 by $0.19. The firm had revenue of $583.00 million during the quarter, compared to the consensus estimate of $552.09 million. Mr. Cooper Group had a net margin of 33.22% and a return on equity of 14.10%. The company’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.66 EPS. As a group, research analysts anticipate that Mr. Cooper Group will post 9.98 earnings per share for the current year.

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.