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

Mr. Cooper Group Inc. (NASDAQ:COOP) was the recipient of unusually large options trading on Wednesday. Stock investors bought 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 Trading Down 0.3 %

COOP opened at $133.10 on Friday. The company has a fifty day moving average price of $108.02 and a two-hundred day moving average price of $99.62. Mr. Cooper Group has a 1-year low of $74.49 and a 1-year high of $137.60. The company has a market cap of $8.46 billion, a P/E ratio of 13.07, a price-to-earnings-growth ratio of 0.32 and a beta of 1.17.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $2.73 EPS for the quarter, beating analysts’ consensus estimates of $2.65 by $0.08. Mr. Cooper Group had a net margin of 30.07% and a return on equity of 14.76%. On average, research analysts forecast that Mr. Cooper Group will post 13.17 EPS for the current fiscal year.

Analyst Ratings Changes

COOP has been the subject of a number of recent research reports. UBS Group upped their target price on Mr. Cooper Group from $122.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. JMP Securities reissued a “market outperform” rating and set a $115.00 target price on shares of Mr. Cooper Group in a report on Thursday, February 13th. Piper Sandler lifted their price target on shares of Mr. Cooper Group from $113.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Keefe, Bruyette & Woods increased their price objective on Mr. Cooper Group from $105.00 to $115.00 and gave the company a “market perform” rating in a report on Thursday, February 13th. Finally, Citizens Jmp downgraded Mr. Cooper Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $112.22.

Insiders Place Their Bets

In other news, CEO Jesse K. Bray sold 30,000 shares of the company’s stock in a transaction on 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 represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.33% of the company’s stock.

Institutional Investors Weigh In On Mr. Cooper Group

A number of institutional investors and hedge funds have recently made changes to their positions in COOP. Norges Bank bought a new position in shares of Mr. Cooper Group in the fourth quarter valued at approximately $72,984,000. 140 Summer Partners LP purchased a new position in Mr. Cooper Group during the 4th quarter worth $69,959,000. Veridan Wealth LLC bought a new stake in shares of Mr. Cooper Group in the 4th quarter worth $56,244,000. Wellington Management Group LLP raised its holdings in shares of Mr. Cooper Group by 43.1% in the fourth quarter. Wellington Management Group LLP now owns 1,138,904 shares of the company’s stock valued at $109,346,000 after purchasing an additional 343,243 shares during the last quarter. Finally, Cercano Management LLC lifted its position in shares of Mr. Cooper Group by 66.5% during the fourth quarter. Cercano Management LLC now owns 790,753 shares of the company’s stock valued at $75,920,000 after purchasing an additional 315,801 shares in 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.