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

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

Mr. Cooper Group Stock Performance

Shares of COOP opened at $104.74 on Thursday. The firm’s 50-day simple moving average is $98.12 and its two-hundred day simple moving average is $94.21. Mr. Cooper Group has a fifty-two week low of $65.80 and a fifty-two week high of $107.85. The stock has a market cap of $6.70 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 0.30 and a beta of 1.43.

Insiders Place Their Bets

In related news, CEO Jesse K. Bray sold 30,000 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $94.49, for a total value of $2,834,700.00. Following the sale, the chief executive officer now directly owns 758,821 shares of the company’s stock, valued at $71,700,996.29. This trade represents a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.33% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. bought a new stake in Mr. Cooper Group in the third quarter worth $30,000. Harvest Fund Management Co. Ltd raised its position in shares of Mr. Cooper Group by 152.5% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock worth $41,000 after purchasing an additional 270 shares during the last quarter. Asset Planning Inc bought a new position in Mr. Cooper Group in the 4th quarter worth about $48,000. ORG Partners LLC purchased a new stake in Mr. Cooper Group during the 4th quarter valued at about $51,000. Finally, Harbor Capital Advisors Inc. bought a new stake in Mr. Cooper Group during the 3rd quarter valued at about $52,000. Institutional investors own 89.82% of the company’s stock.

Wall Street Analyst Weigh In

COOP has been the topic of several research analyst reports. Wedbush reissued an “outperform” rating and set a $115.00 target price on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Piper Sandler boosted their price objective 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. Citizens Jmp raised shares of Mr. Cooper Group to a “strong-buy” rating in a research report on Tuesday, January 14th. Compass Point boosted their price target on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Finally, JMP Securities assumed coverage on shares of Mr. Cooper Group in a report on Tuesday, January 14th. They issued an “outperform” rating and a $115.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $104.13.

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.