Traders Buy High Volume of Call Options on Mr. Cooper Group (NASDAQ:COOP)

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

Analyst Ratings Changes

COOP has been the topic of a number of recent analyst reports. Wedbush increased their price objective on shares of 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 downgraded Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 price target on the stock. in a report on Monday, July 22nd. Piper Sandler upped their price objective on Mr. Cooper Group from $91.00 to $106.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, Barclays lifted their target price on Mr. Cooper Group from $94.00 to $103.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Mr. Cooper Group has an average rating of “Moderate Buy” and an average target price of $95.57.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD increased its holdings in Mr. Cooper Group by 984.4% during the first 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. K2 Principal Fund L.P. increased its holdings in shares of Mr. Cooper Group by 97.7% in the 4th quarter. K2 Principal Fund L.P. now owns 279,510 shares of the company’s stock valued at $18,202,000 after acquiring an additional 138,147 shares during the period. 1832 Asset Management L.P. bought a new position in shares of Mr. Cooper Group in the 1st quarter worth $5,301,000. Allianz Asset Management GmbH lifted its stake in shares of Mr. Cooper Group by 2,060.4% during the 4th quarter. Allianz Asset Management GmbH now owns 102,423 shares of the company’s stock worth $6,670,000 after purchasing an additional 97,682 shares during the last quarter. Finally, Sei Investments Co. boosted its position in Mr. Cooper Group by 68.2% during the first quarter. Sei Investments Co. now owns 36,139 shares of the company’s stock valued at $2,817,000 after purchasing an additional 14,652 shares in the last quarter. Hedge funds and other institutional investors own 89.82% of the company’s stock.

Mr. Cooper Group Stock Down 0.3 %

COOP opened at $91.58 on Friday. The stock’s fifty day moving average is $90.29 and its two-hundred day moving average is $84.06. The company has a market capitalization of $5.93 billion, a P/E ratio of 9.59 and a beta of 1.41. Mr. Cooper Group has a 52 week low of $52.50 and a 52 week high of $96.00.

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