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

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

Analysts Set New Price Targets

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

Mr. Cooper Group Trading Up 5.4%

Shares of COOP stock opened at $142.78 on Thursday. Mr. Cooper Group has a 12-month low of $78.20 and a 12-month high of $142.98. The business’s fifty day simple moving average is $122.37 and its 200-day simple moving average is $109.74. The company has a market cap of $9.14 billion, a PE ratio of 14.03, a PEG ratio of 0.32 and a beta of 1.03.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $2.97 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.16. The company had revenue of $560.00 million during the quarter, compared to analysts’ expectations of $620.57 million. Mr. Cooper Group had a return on equity of 14.76% and a net margin of 30.07%. The firm’s revenue was down .7% compared to the same quarter last year. During the same period last year, the business posted $2.73 earnings per share. On average, equities analysts forecast that Mr. Cooper Group will post 13.17 earnings per share for the current year.

Hedge Funds Weigh In On Mr. Cooper Group

Several hedge funds and other institutional investors have recently modified their holdings of COOP. Asset Planning Inc acquired a new position in Mr. Cooper Group during the 4th quarter valued at approximately $48,000. Autumn Glory Partners LLC acquired a new position in shares of Mr. Cooper Group in the fourth quarter valued at about $288,000. Blue Trust Inc. raised its stake in shares of Mr. Cooper Group by 38.8% in the fourth quarter. Blue Trust Inc. now owns 794 shares of the company’s stock worth $76,000 after purchasing an additional 222 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Mr. Cooper Group by 3.8% during the fourth quarter. Principal Financial Group Inc. now owns 363,752 shares of the company’s stock worth $34,924,000 after purchasing an additional 13,173 shares during the period. Finally, CIBC Asset Management Inc boosted its position in Mr. Cooper Group by 3.8% in the fourth quarter. CIBC Asset Management Inc now owns 6,366 shares of the company’s stock valued at $611,000 after buying an additional 232 shares during the last quarter. 89.82% of the stock is owned by hedge funds and other institutional investors.

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.