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

Mr. Cooper Group Inc. (NASDAQ:COOP - Get Free Report) saw some unusual options trading activity on Wednesday. Investors bought 10,613 call options on the stock. This represents an increase of approximately 3,637% compared to the typical volume of 284 call options.

Institutional Trading of Mr. Cooper Group

Hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its stake in shares of 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 worth $30,476,000 after acquiring an additional 354,905 shares in the last quarter. 1832 Asset Management L.P. bought a new stake in Mr. Cooper Group in the first quarter worth $5,301,000. 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 buying an additional 14,652 shares during the period. Penbrook Management LLC bought a new position in shares of Mr. Cooper Group during the first quarter valued at about $949,000. Finally, Waterfall Asset Management LLC bought a new position in shares of Mr. Cooper Group during the second quarter valued at about $809,000. Institutional investors own 89.82% of the company's stock.

Mr. Cooper Group Trading Down 0.8 %

Shares of Mr. Cooper Group stock traded down $0.74 on Thursday, hitting $96.27. 266,904 shares of the company traded hands, compared to its average volume of 435,888. Mr. Cooper Group has a 12-month low of $52.50 and a 12-month high of $97.35. The company has a market cap of $6.23 billion, a P/E ratio of 10.08 and a beta of 1.40. The firm's 50-day simple moving average is $91.66 and its 200 day simple moving average is $85.38.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.19. The firm had revenue of $583.00 million during 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 company's revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.66 earnings per share. Analysts predict that Mr. Cooper Group will post 9.98 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on COOP. Piper Sandler boosted their target price 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. Barclays boosted their price objective on Mr. Cooper Group from $103.00 to $108.00 and gave the company an "overweight" rating in a research note on Tuesday, October 8th. Wedbush increased their target price on Mr. Cooper Group from $100.00 to $115.00 and gave the stock an "outperform" rating in a research report on Friday, July 26th. Finally, Keefe, Bruyette & Woods downgraded shares of 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. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $96.29.

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.