Traders Buy Large Volume of Call Options on Mr. Cooper Group (NASDAQ:COOP)

Mr. Cooper Group Inc. (NASDAQ:COOP) saw some unusual options trading on Wednesday. Investors purchased 10,613 call options on the company. This is an increase of approximately 3,637% compared to the typical daily volume of 284 call options.

Insider Buying and Selling at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $88.41, for a total transaction of $2,652,300.00. Following the sale, the chief executive officer now directly owns 818,821 shares in the company, valued at $72,391,964.61. This represents a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.33% of the stock is owned by corporate insiders.

Institutional Trading of Mr. Cooper Group

Institutional investors have recently modified their holdings of the stock. Blue Trust Inc. lifted its position in Mr. Cooper Group by 77.1% in the second quarter. Blue Trust Inc. now owns 333 shares of the company’s stock valued at $26,000 after acquiring an additional 145 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Mr. Cooper Group by 8,275.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company’s stock worth $27,000 after purchasing an additional 331 shares in the last quarter. Quarry LP purchased a new stake in shares of Mr. Cooper Group in the 2nd quarter valued at about $29,000. Financial Management Professionals Inc. acquired a new stake in shares of Mr. Cooper Group in the 3rd quarter valued at about $30,000. Finally, Harvest Fund Management Co. Ltd grew its stake in Mr. Cooper Group by 152.5% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock worth $41,000 after buying an additional 270 shares during the last quarter. Hedge funds and other institutional investors own 89.82% of the company’s stock.

Analyst Ratings Changes

COOP has been the topic of several recent research reports. Barclays upped their target price on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Compass Point upped their price objective on Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Finally, Wedbush reiterated an “outperform” rating and issued a $115.00 target price on shares of Mr. Cooper Group in a report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $98.00.

Mr. Cooper Group Price Performance

NASDAQ:COOP opened at $98.33 on Thursday. The firm has a market capitalization of $6.29 billion, a PE ratio of 12.70 and a beta of 1.40. The business’s fifty day moving average price is $93.92 and its 200 day moving average price is $88.74. Mr. Cooper Group has a 12 month low of $59.03 and a 12 month high of $103.05.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.30. The business had revenue of $616.00 million for the quarter, compared to the consensus estimate of $548.09 million. Mr. Cooper Group had a return on equity of 13.77% and a net margin of 25.87%. The business’s revenue for the quarter was up 32.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.79 EPS. As a group, equities analysts anticipate that Mr. Cooper Group will post 10.16 EPS for the current 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.