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

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

Hedge Funds Weigh In On Mr. Cooper Group

Several hedge funds and other institutional investors have recently bought and sold shares of COOP. Precision Wealth Strategies LLC acquired a new position in Mr. Cooper Group during the 1st quarter worth approximately $229,000. Janney Capital Management LLC acquired a new position in Mr. Cooper Group during the 1st quarter worth approximately $365,000. Capstone Investment Advisors LLC acquired a new position in Mr. Cooper Group during the 1st quarter worth approximately $472,000. Fidelis Capital Partners LLC acquired a new position in Mr. Cooper Group during the 1st quarter worth approximately $85,000. Finally, LSV Asset Management lifted its position in Mr. Cooper Group by 36.3% during the 1st quarter. LSV Asset Management now owns 181,334 shares of the company’s stock worth $14,135,000 after acquiring an additional 48,334 shares in the last quarter. 89.82% of the stock is owned by institutional investors and hedge funds.

Mr. Cooper Group Price Performance

NASDAQ COOP opened at $90.52 on Thursday. The firm has a market capitalization of $5.79 billion, a P/E ratio of 9.48 and a beta of 1.40. Mr. Cooper Group has a 1-year low of $54.07 and a 1-year high of $97.35. The business’s 50-day simple moving average is $91.99 and its 200-day simple moving average is $86.33.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.30. The business had revenue of $616.00 million for the quarter, compared to analyst estimates of $548.09 million. Mr. Cooper Group had a return on equity of 13.77% and a net margin of 25.87%. The company’s revenue was up 32.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.79 EPS. On average, equities research analysts expect that Mr. Cooper Group will post 10.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

COOP has been the subject of a number of recent research reports. Barclays lifted their price objective on Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Wedbush reissued an “outperform” rating and issued a $115.00 price target on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Piper Sandler raised 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. Compass Point raised their price target on Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Keefe, Bruyette & Woods lowered Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 price target on the stock. in a research note on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $98.00.

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.