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

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

Mr. Cooper Group Stock Performance

Shares of Mr. Cooper Group stock opened at $94.92 on Thursday. The firm has a market cap of $6.07 billion, a P/E ratio of 12.26 and a beta of 1.41. The firm’s 50-day simple moving average is $95.44 and its 200-day simple moving average is $90.68. Mr. Cooper Group has a twelve month low of $61.38 and a twelve month high of $103.05.

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

Analyst Ratings Changes

Several analysts have commented on COOP shares. Wedbush reissued an “outperform” rating and issued a $115.00 target price on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Barclays increased 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 report on Tuesday, October 8th. Finally, Compass Point raised their target price on Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $100.57.

Insider Buying and Selling at Mr. Cooper Group

In related 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 transaction of $2,652,300.00. Following the completion of the sale, the chief executive officer now directly owns 818,821 shares in the company, valued at approximately $72,391,964.61. This trade represents a 3.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 2.33% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. LSV Asset Management lifted its position in Mr. Cooper Group by 249.2% during the 2nd quarter. LSV Asset Management now owns 633,260 shares of the company’s stock worth $51,440,000 after buying an additional 451,926 shares in the last quarter. Hantz Financial Services Inc. bought a new position in shares of Mr. Cooper Group in the second quarter worth about $21,609,000. FMR LLC lifted its position in shares of Mr. Cooper Group by 42.9% during the third quarter. FMR LLC now owns 485,907 shares of the company’s stock worth $44,791,000 after purchasing an additional 145,767 shares in the last quarter. Basswood Capital Management L.L.C. grew its stake in shares of Mr. Cooper Group by 36.6% during the third quarter. Basswood Capital Management L.L.C. now owns 496,243 shares of the company’s stock valued at $45,744,000 after purchasing an additional 132,970 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Mr. Cooper Group by 11.1% in the third quarter. Assenagon Asset Management S.A. now owns 1,247,434 shares of the company’s stock valued at $114,988,000 after purchasing an additional 125,055 shares in the last quarter. Institutional investors own 89.82% of the company’s stock.

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.