Mr. Cooper Group Sees Unusually Large Options Volume (NASDAQ:COOP)

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

Analysts Set New Price Targets

Several equities analysts have issued reports on COOP shares. Barclays raised their price objective on Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Wedbush restated an “outperform” rating and issued a $115.00 price target on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Finally, Compass Point boosted their price target on Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $100.57.

Mr. Cooper Group Stock Up 0.8 %

Shares of COOP opened at $93.54 on Thursday. Mr. Cooper Group has a 52-week low of $61.38 and a 52-week high of $103.05. The firm has a 50-day moving average price of $96.13 and a 200 day moving average price of $91.57. The firm 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 released 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 return on equity of 13.77% and a net margin of 25.87%. The company had revenue of $616.00 million during the quarter, compared to analyst estimates of $548.09 million. During the same quarter in the prior year, the company earned $2.79 earnings per share. The company’s revenue for the quarter was up 32.8% on a year-over-year basis. On average, equities analysts expect that Mr. Cooper Group will post 10.16 EPS for the current year.

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 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 directly owns 788,821 shares in the company, valued at $76,973,153.18. This trade represents a 3.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders sold 90,000 shares of company stock worth $8,414,400. Insiders own 2.33% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in COOP. Range Financial Group LLC acquired a new stake in Mr. Cooper Group in the 4th quarter worth $1,091,000. Oliver Luxxe Assets LLC increased its position in Mr. Cooper Group by 5.8% in the 4th quarter. Oliver Luxxe Assets LLC now owns 41,535 shares of the company’s stock valued at $3,988,000 after acquiring an additional 2,259 shares in the last quarter. Tidal Investments LLC acquired a new position in Mr. Cooper Group during the 3rd quarter worth $2,459,000. World Investment Advisors LLC acquired a new stake in Mr. Cooper Group in the third quarter worth about $2,537,000. Finally, Sanctuary Advisors LLC raised its stake in shares of Mr. Cooper Group by 137.1% during the third quarter. Sanctuary Advisors LLC now owns 18,843 shares of the company’s stock worth $1,873,000 after buying an additional 10,895 shares during the last quarter. Institutional investors and hedge funds own 89.82% of the company’s stock.

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.