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

Mr. Cooper Group Inc. (NASDAQ:COOP) was the target of some unusual options trading on Wednesday. Stock investors purchased 10,613 call options on the stock. This is an increase of approximately 3,637% compared to the average volume of 284 call options.

Analyst Ratings Changes

A number of research analysts have recently weighed in on COOP shares. Barclays increased their price target 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. Compass Point raised their target price on Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Wedbush restated an “outperform” rating and set a $115.00 target price on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.57.

Insider Activity

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $88.41, for a total value of $2,652,300.00. Following the transaction, the chief executive officer now directly owns 818,821 shares of the company’s stock, valued at approximately $72,391,964.61. This trade represents a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.33% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in COOP. Charles Schwab Investment Management Inc. grew its holdings in shares of Mr. Cooper Group by 6.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 916,365 shares of the company’s stock worth $84,471,000 after buying an additional 52,001 shares in the last quarter. World Investment Advisors LLC acquired a new position in Mr. Cooper Group during the 3rd quarter worth approximately $2,537,000. Cynosure Group LLC bought a new position in shares of Mr. Cooper Group during the 3rd quarter worth approximately $730,000. FMR LLC raised its holdings in shares of Mr. Cooper Group by 42.9% in the third quarter. FMR LLC now owns 485,907 shares of the company’s stock valued at $44,791,000 after purchasing an additional 145,767 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in shares of Mr. Cooper Group by 50.7% in the third quarter. Los Angeles Capital Management LLC now owns 32,592 shares of the company’s stock worth $3,004,000 after purchasing an additional 10,964 shares in the last quarter. Institutional investors and hedge funds own 89.82% of the company’s stock.

Mr. Cooper Group Trading Up 1.4 %

NASDAQ:COOP opened at $94.92 on Thursday. Mr. Cooper Group has a 1 year low of $61.38 and a 1 year high of $103.05. The stock has a 50-day moving average price of $95.44 and a two-hundred day moving average price of $90.68. The stock has a market cap of $6.07 billion, a price-to-earnings ratio of 12.26 and a beta of 1.41.

Mr. Cooper Group (NASDAQ:COOP) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.30. The business had revenue of $616.00 million during 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%. Mr. Cooper Group’s quarterly revenue was up 32.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.79 EPS. Sell-side analysts forecast that Mr. Cooper Group will post 10.16 earnings per share for the current year.

Mr. Cooper Group Company Profile

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.