Investors Purchase High Volume of Mr. Cooper Group Call Options (NASDAQ:COOP)

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

Mr. Cooper Group Stock Performance

NASDAQ:COOP opened at $80.82 on Thursday. Mr. Cooper Group has a 52 week low of $48.01 and a 52 week high of $85.17. The firm’s 50-day simple moving average is $81.47 and its 200 day simple moving average is $74.00. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 8.46 and a beta of 1.38.

Mr. Cooper Group (NASDAQ:COOP) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.11 by $0.17. The business had revenue of $564.00 million for the quarter, compared to the consensus estimate of $498.15 million. Mr. Cooper Group had a return on equity of 13.31% and a net margin of 31.75%. Sell-side analysts anticipate that Mr. Cooper Group will post 9.48 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Wedbush increased their target price on shares of Mr. Cooper Group from $85.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Jefferies Financial Group lifted their price objective on Mr. Cooper Group from $74.00 to $80.00 and gave the company a “hold” rating in a report on Friday, April 19th. Deutsche Bank Aktiengesellschaft increased their price target on Mr. Cooper Group from $88.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Barclays raised their price objective on shares of Mr. Cooper Group from $85.00 to $94.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $92.00 target price (up from $86.00) on shares of Mr. Cooper Group in a research note on Thursday, April 25th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $85.13.

Insider Buying and Selling at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 25,000 shares of Mr. Cooper Group stock in a transaction on Monday, April 29th. The shares were sold at an average price of $78.79, for a total transaction of $1,969,750.00. Following the sale, the chief executive officer now owns 309,631 shares of the company’s stock, valued at approximately $24,395,826.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Jesse K. Bray sold 25,000 shares of Mr. Cooper Group stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $78.79, for a total value of $1,969,750.00. Following the completion of the transaction, the chief executive officer now directly owns 309,631 shares of the company’s stock, valued at approximately $24,395,826.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael R. Rawls sold 27,000 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $82.18, for a total value of $2,218,860.00. Following the completion of the sale, the chief executive officer now directly owns 57,623 shares in the company, valued at $4,735,458.14. The disclosure for this sale can be found here. Insiders have sold a total of 77,000 shares of company stock valued at $6,224,110 over the last ninety days. Corporate insiders own 2.33% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of COOP. Boston Partners acquired a new position in shares of Mr. Cooper Group in the 1st quarter valued at approximately $1,336,000. Burney Co. raised its position in Mr. Cooper Group by 191.7% during the first quarter. Burney Co. now owns 122,546 shares of the company’s stock valued at $9,552,000 after purchasing an additional 80,534 shares in the last quarter. EMC Capital Management lifted its stake in Mr. Cooper Group by 27.4% during the first quarter. EMC Capital Management now owns 6,015 shares of the company’s stock worth $469,000 after purchasing an additional 1,293 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Mr. Cooper Group by 2.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 10,521 shares of the company’s stock valued at $820,000 after purchasing an additional 203 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in shares of Mr. Cooper Group by 49.0% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 65,805 shares of the company’s stock valued at $5,130,000 after purchasing an additional 21,644 shares during the last quarter. Institutional investors and hedge funds own 89.82% of the company’s stock.

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.