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

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

Insiders Place Their Bets

In related news, CEO Jesse K. Bray sold 30,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 698,821 shares of the company’s stock, valued at approximately $78,435,669.04. This represents a 4.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.33% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Picton Mahoney Asset Management increased its holdings in shares of Mr. Cooper Group by 41.3% during the fourth quarter. Picton Mahoney Asset Management now owns 325 shares of the company’s stock valued at $31,000 after acquiring an additional 95 shares in the last quarter. Harvest Fund Management Co. Ltd increased its holdings in 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 buying an additional 270 shares in the last quarter. Asset Planning Inc purchased a new stake in shares of Mr. Cooper Group during the 4th quarter valued at about $48,000. ORG Partners LLC purchased a new position in shares of Mr. Cooper Group during the fourth quarter valued at approximately $51,000. Finally, Kapitalo Investimentos Ltda bought a new position in Mr. Cooper Group during the fourth quarter valued at approximately $70,000. Institutional investors own 89.82% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Piper Sandler upped their target price on shares of Mr. Cooper Group from $113.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Barclays increased 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. 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 research note on Tuesday, February 18th. JMP Securities reissued a “market outperform” rating and set a $115.00 price target on shares of Mr. Cooper Group in a research note on Thursday, February 13th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Mr. Cooper Group from $105.00 to $115.00 and gave the company a “market perform” rating in a report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Mr. Cooper Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.22.

Mr. Cooper Group Trading Up 0.4 %

Shares of COOP stock opened at $103.55 on Thursday. The company’s fifty day moving average price is $104.73 and its 200-day moving average price is $97.87. The stock has a market cap of $6.59 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 0.32 and a beta of 1.49. Mr. Cooper Group has a 12 month low of $73.87 and a 12 month high of $114.05.

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

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.