Mr. Cooper Group Target of Unusually High Options Trading (NASDAQ:COOP)

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

Mr. Cooper Group Stock Performance

Mr. Cooper Group stock opened at $107.54 on Friday. Mr. Cooper Group has a 1 year low of $70.88 and a 1 year high of $114.05. The firm has a 50 day moving average price of $103.21 and a 200 day moving average price of $97.15. The company has a market cap of $6.84 billion, a price-to-earnings ratio of 10.56, a PEG ratio of 0.32 and a beta of 1.49.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $2.73 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts predict that Mr. Cooper Group will post 13.17 EPS for the current year.

Insider Transactions at Mr. Cooper Group

In other Mr. Cooper Group 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 completion of the transaction, the chief executive officer now directly owns 698,821 shares in the company, valued at approximately $78,435,669.04. This trade represents a 4.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.33% of the company’s stock.

Institutional Investors Weigh In On Mr. Cooper Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Picton Mahoney Asset Management grew its holdings in shares of Mr. Cooper Group by 41.3% during the 4th quarter. Picton Mahoney Asset Management now owns 325 shares of the company’s stock worth $31,000 after purchasing an additional 95 shares during the period. 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 buying an additional 270 shares in the last quarter. Asset Planning Inc purchased a new stake in Mr. Cooper Group during the fourth quarter worth approximately $48,000. ORG Partners LLC purchased a new position in shares of Mr. Cooper Group in the 4th quarter valued at $51,000. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of Mr. Cooper Group in the 3rd quarter valued at $52,000. 89.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

COOP has been the subject of several research reports. Citizens Jmp upgraded Mr. Cooper Group to a “strong-buy” rating in a research report on Tuesday, January 14th. Barclays upped their price objective on Mr. Cooper Group from $111.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Piper Sandler lifted their price objective on Mr. Cooper Group from $113.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. JMP Securities restated a “market outperform” rating and issued a $115.00 target price on shares of Mr. Cooper Group in a report on Thursday, February 13th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Mr. Cooper Group from $105.00 to $115.00 and gave the stock a “market perform” rating in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.22.

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.