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

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

Insider Buying and Selling at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $88.41, for a total value of $2,652,300.00. Following the transaction, the chief executive officer now directly owns 818,821 shares of the company’s stock, valued at approximately $72,391,964.61. This represents a 3.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.33% of the company’s stock.

Hedge Funds Weigh In On Mr. Cooper Group

Several large investors have recently added to or reduced their stakes in COOP. LSV Asset Management lifted its position in Mr. Cooper Group by 249.2% in the second quarter. LSV Asset Management now owns 633,260 shares of the company’s stock worth $51,440,000 after purchasing an additional 451,926 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Mr. Cooper Group by 984.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 390,957 shares of the company’s stock worth $30,476,000 after acquiring an additional 354,905 shares during the period. Hantz Financial Services Inc. acquired a new stake in shares of Mr. Cooper Group during the 2nd quarter valued at about $21,609,000. FMR LLC increased its stake in Mr. Cooper Group by 42.9% in the third quarter. FMR LLC now owns 485,907 shares of the company’s stock valued at $44,791,000 after acquiring an additional 145,767 shares during the period. Finally, Basswood Capital Management L.L.C. raised its position in Mr. Cooper Group by 36.6% in the third quarter. Basswood Capital Management L.L.C. now owns 496,243 shares of the company’s stock worth $45,744,000 after purchasing an additional 132,970 shares in the last quarter. Institutional investors and hedge funds own 89.82% of the company’s stock.

Mr. Cooper Group Stock Performance

NASDAQ COOP opened at $98.33 on Thursday. Mr. Cooper Group has a twelve month low of $59.03 and a twelve month high of $103.05. The stock has a market capitalization of $6.29 billion, a PE ratio of 12.70 and a beta of 1.40. The stock has a 50-day simple moving average of $93.92 and a 200 day simple moving average of $88.74.

Mr. Cooper Group (NASDAQ:COOP) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.54 by $0.30. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%. The firm had revenue of $616.00 million during the quarter, compared to the consensus estimate of $548.09 million. During the same period in the prior year, the firm earned $2.79 EPS. The business’s revenue was up 32.8% on a year-over-year basis. As a group, equities research analysts forecast that Mr. Cooper Group will post 10.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Barclays upped their target price on Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Compass Point increased their price objective on Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Wedbush reissued an “outperform” rating and issued a $115.00 target price on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $98.00.

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.