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

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

Insider Activity

In related news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $97.58, for a total transaction of $2,927,400.00. Following the completion of the transaction, the chief executive officer now owns 788,821 shares in the company, valued at approximately $76,973,153.18. This trade represents a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 90,000 shares of company stock valued at $8,414,400. 2.33% of the stock is owned by insiders.

Institutional Trading of Mr. Cooper Group

Institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its position in shares of Mr. Cooper Group by 8,275.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company’s stock valued at $27,000 after buying an additional 331 shares in the last quarter. Quarry LP acquired a new position in Mr. Cooper Group in the 2nd quarter valued at $29,000. Financial Management Professionals Inc. bought a new stake in shares of Mr. Cooper Group during the 3rd quarter valued at $30,000. Harvest Fund Management Co. Ltd grew its holdings in shares of 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 purchasing an additional 270 shares in the last quarter. Finally, Harbor Capital Advisors Inc. bought a new position in shares of Mr. Cooper Group in the third quarter worth $52,000. Institutional investors own 89.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on COOP. Compass Point lifted their target price on Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Wedbush reaffirmed an “outperform” rating and set a $115.00 price target on shares of Mr. Cooper Group in a report on Thursday, October 24th. Finally, Barclays upped their price objective on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $100.57.

Mr. Cooper Group Price Performance

COOP opened at $93.54 on Thursday. The business has a fifty day simple moving average of $96.13 and a 200 day simple moving average of $91.57. Mr. Cooper Group has a 1 year low of $61.38 and a 1 year high of $103.05. The company has a market capitalization of $5.99 billion, a PE ratio of 12.09 and a beta of 1.43.

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