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

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

Insider Activity

In related news, CEO Jesse K. Bray sold 30,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $112.24, for a total transaction of $3,367,200.00. Following the transaction, the chief executive officer now directly owns 698,821 shares of the company’s stock, valued at $78,435,669.04. This trade represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.33% of the company’s stock.

Hedge Funds Weigh In On Mr. Cooper Group

Several hedge funds have recently bought and sold shares of the company. Picton Mahoney Asset Management grew its stake in Mr. Cooper Group by 41.3% during the fourth quarter. Picton Mahoney Asset Management now owns 325 shares of the company’s stock valued at $31,000 after acquiring an additional 95 shares in the last quarter. Williamson Legacy Group LLC grew its stake in Mr. Cooper Group by 1.1% during the fourth quarter. Williamson Legacy Group LLC now owns 10,835 shares of the company’s stock valued at $1,040,000 after acquiring an additional 118 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in Mr. Cooper Group by 2.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 4,984 shares of the company’s stock valued at $479,000 after acquiring an additional 128 shares in the last quarter. Dakota Wealth Management grew its stake in Mr. Cooper Group by 0.7% during the fourth quarter. Dakota Wealth Management now owns 27,695 shares of the company’s stock valued at $2,659,000 after acquiring an additional 181 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its stake in Mr. Cooper Group by 5.6% during the fourth quarter. Quadrant Capital Group LLC now owns 3,468 shares of the company’s stock valued at $333,000 after acquiring an additional 184 shares in the last quarter. Hedge funds and other institutional investors own 89.82% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on COOP shares. Piper Sandler raised their price target on shares of Mr. Cooper Group from $113.00 to $120.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. UBS Group lifted their price objective on shares of Mr. Cooper Group from $122.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. JMP Securities reaffirmed a “market outperform” rating and issued a $115.00 price objective on shares of Mr. Cooper Group in a research report on Thursday, February 13th. Barclays lifted their price objective on shares of Mr. Cooper Group from $111.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Finally, Citizens Jmp raised shares of Mr. Cooper Group to a “strong-buy” rating in a research report on Tuesday, January 14th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $112.22.

Mr. Cooper Group Stock Up 2.0 %

COOP opened at $105.59 on Friday. The company has a market capitalization of $6.71 billion, a price-to-earnings ratio of 10.37, a PEG ratio of 0.32 and a beta of 1.49. The firm has a 50-day moving average price of $104.97 and a 200-day moving average price of $97.93. Mr. Cooper Group has a twelve month low of $74.49 and a twelve month high of $114.05.

Mr. Cooper Group (NASDAQ:COOP) last posted its earnings results on Wednesday, February 12th. The company reported $2.73 earnings per share for the quarter, topping the consensus estimate of $2.65 by $0.08. Mr. Cooper Group had a net margin of 30.07% and a return on equity of 14.76%. On average, sell-side analysts expect that Mr. Cooper Group will post 13.17 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.