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

Mr. Cooper Group Inc. (NASDAQ:COOP) saw unusually large options trading on Wednesday. Stock investors bought 10,613 call options on the company. This represents an increase of approximately 3,637% compared to the average volume of 284 call options.

Insider Activity at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 30,000 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $94.49, for a total value of $2,834,700.00. Following the transaction, the chief executive officer now owns 758,821 shares in the company, valued at $71,700,996.29. The trade was a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 90,000 shares of company stock valued at $8,414,400 over the last quarter. 2.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mr. Cooper Group

Several hedge funds and other institutional investors have recently made changes to their positions in COOP. Allspring Global Investments Holdings LLC increased its stake in shares of Mr. Cooper Group by 8,275.0% during 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 during the period. Quarry LP acquired a new position in shares of Mr. Cooper Group in the second quarter valued at about $29,000. Financial Management Professionals Inc. purchased a new position in Mr. Cooper Group during the 3rd quarter worth approximately $30,000. Harvest Fund Management Co. Ltd lifted its position in Mr. Cooper Group by 152.5% during the third quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock valued at $41,000 after purchasing an additional 270 shares during the period. Finally, Harbor Capital Advisors Inc. purchased a new stake in shares of Mr. Cooper Group in the third quarter worth about $52,000. Hedge funds and other institutional investors own 89.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Compass Point boosted their price target on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a 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, Wedbush restated an “outperform” rating and issued a $115.00 target price on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $100.57.

Mr. Cooper Group Stock Performance

NASDAQ COOP opened at $93.54 on Thursday. Mr. Cooper Group has a one year low of $61.38 and a one year high of $103.05. The stock has a 50-day moving average of $96.13 and a 200 day moving average of $91.57. The company has a market capitalization of $5.99 billion, a price-to-earnings 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 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.30. The company had revenue of $616.00 million for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 32.8% compared to the same quarter last year. During the same period last year, the firm earned $2.79 EPS. On average, equities analysts predict that Mr. Cooper Group will post 10.16 earnings per share for the current fiscal 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.