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

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

Analyst Ratings Changes

A number of brokerages recently issued reports on COOP. Keefe, Bruyette & Woods increased their target price on Mr. Cooper Group from $115.00 to $143.00 and gave the stock a “market perform” rating in a report on Tuesday, April 8th. Citizens Jmp cut Mr. Cooper Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 1st. UBS Group raised their price objective on Mr. Cooper Group from $135.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, April 16th. Piper Sandler cut Mr. Cooper Group from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $125.00 to $143.00 in a research note on Friday, April 4th. Finally, Barclays raised their price objective on Mr. Cooper Group from $130.00 to $147.00 and gave the company an “overweight” rating in a research note on Tuesday, April 8th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $131.14.

Institutional Investors Weigh In On Mr. Cooper Group

A number of hedge funds have recently made changes to their positions in the business. Invesco Ltd. increased its holdings in Mr. Cooper Group by 11.8% in the 1st quarter. Invesco Ltd. now owns 2,013,536 shares of the company’s stock worth $240,819,000 after acquiring an additional 213,167 shares during the last quarter. Wellington Management Group LLP increased its holdings in Mr. Cooper Group by 43.1% in the 4th quarter. Wellington Management Group LLP now owns 1,138,904 shares of the company’s stock worth $109,346,000 after acquiring an additional 343,243 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Mr. Cooper Group by 13.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,057,176 shares of the company’s stock worth $126,438,000 after acquiring an additional 129,414 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Mr. Cooper Group by 16.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 871,902 shares of the company’s stock worth $83,712,000 after acquiring an additional 125,897 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Mr. Cooper Group by 6.8% in the 4th quarter. Northern Trust Corp now owns 835,369 shares of the company’s stock worth $80,204,000 after acquiring an additional 53,534 shares during the last quarter. 89.82% of the stock is currently owned by institutional investors.

Mr. Cooper Group Price Performance

NASDAQ COOP opened at $150.05 on Thursday. The stock has a market capitalization of $9.60 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 0.45 and a beta of 1.03. Mr. Cooper Group has a one year low of $78.20 and a one year high of $156.35. The business’s fifty day moving average is $128.75 and its 200-day moving average is $113.13.

Mr. Cooper Group (NASDAQ:COOP) last released its earnings results on Wednesday, April 23rd. The company reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.16. The company 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 business’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.73 EPS. Research analysts expect that Mr. Cooper Group will post 13.17 EPS for the current fiscal 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.