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

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

Mr. Cooper Group Price Performance

Shares of NASDAQ:COOP opened at $129.71 on Friday. Mr. Cooper Group has a 1 year low of $78.20 and a 1 year high of $137.60. The business has a 50 day simple moving average of $114.42 and a two-hundred day simple moving average of $105.08. The firm has a market capitalization of $8.30 billion, a PE ratio of 12.74, a price-to-earnings-growth ratio of 0.32 and a beta of 1.06.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $2.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.16. The firm had revenue of $560.00 million during the quarter, compared to analyst estimates of $620.57 million. Mr. Cooper Group had a return on equity of 14.76% and a net margin of 30.07%. Mr. Cooper Group’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.73 earnings per share. Equities research analysts expect that Mr. Cooper Group will post 13.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $112.24, for a total transaction of $3,367,200.00. Following the sale, the chief executive officer now directly owns 698,821 shares of the company’s stock, valued at $78,435,669.04. The trade was a 4.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.33% of the stock is currently owned by insiders.

Institutional Trading of Mr. Cooper Group

A number of large investors have recently modified their holdings of COOP. Norges Bank purchased a new stake in shares of Mr. Cooper Group in the fourth quarter valued at approximately $72,984,000. 140 Summer Partners LP purchased a new stake in Mr. Cooper Group during the fourth quarter worth $69,959,000. Veridan Wealth LLC purchased a new stake in Mr. Cooper Group during the fourth quarter worth $56,244,000. Wellington Management Group LLP lifted its holdings in Mr. Cooper Group by 43.1% during the fourth quarter. Wellington Management Group LLP now owns 1,138,904 shares of the company’s stock worth $109,346,000 after buying an additional 343,243 shares during the period. Finally, Cercano Management LLC lifted its holdings in Mr. Cooper Group by 66.5% during the fourth quarter. Cercano Management LLC now owns 790,753 shares of the company’s stock worth $75,920,000 after buying an additional 315,801 shares during the period. Hedge funds and other institutional investors own 89.82% of the company’s stock.

Analyst Ratings Changes

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

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.