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

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

Insider Buying and Selling

In related news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $97.58, for a total transaction of $2,927,400.00. Following the transaction, the chief executive officer now owns 788,821 shares in the company, valued at approximately $76,973,153.18. The trade was a 3.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.33% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Mr. Cooper Group

Institutional investors have recently bought and sold shares of the business. LSV Asset Management raised its position in shares of Mr. Cooper Group by 249.2% during the 2nd quarter. LSV Asset Management now owns 633,260 shares of the company’s stock valued at $51,440,000 after buying an additional 451,926 shares in the last quarter. Hantz Financial Services Inc. bought a new stake in Mr. Cooper Group during the second quarter worth approximately $21,609,000. FMR LLC increased its stake in 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 acquiring an additional 145,767 shares during the last quarter. Basswood Capital Management L.L.C. raised its position in 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 period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Mr. Cooper Group by 11.1% in the 3rd 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 during the last quarter. Institutional investors own 89.82% of the company’s stock.

Mr. Cooper Group Trading Up 1.4 %

NASDAQ:COOP opened at $94.92 on Thursday. The business’s 50-day moving average is $95.44 and its 200 day moving average is $90.68. Mr. Cooper Group has a 12 month low of $61.38 and a 12 month high of $103.05. The company has a market capitalization of $6.07 billion, a P/E 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, 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 for the quarter, compared to analysts’ expectations of $548.09 million. During the same period in the prior year, the firm earned $2.79 EPS. The company’s revenue for the quarter was up 32.8% on a year-over-year basis. On average, research analysts forecast that Mr. Cooper Group will post 10.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wedbush reissued an “outperform” rating and set a $115.00 price target on shares of Mr. Cooper Group in a report on Thursday, October 24th. Barclays boosted their price target on Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Finally, Compass Point upped their price target 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. 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 company currently has a consensus rating of “Moderate Buy” and an average target price of $100.57.

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.