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

Mr. Cooper Group Inc. (NASDAQ:COOP) was the recipient of some unusual options trading on Wednesday. Stock investors bought 10,613 call options on the stock. This represents an increase of approximately 3,637% compared to the average daily volume of 284 call options.

Insider Activity

In other news, CEO Jesse K. Bray sold 30,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $97.58, for a total transaction of $2,927,400.00. Following the transaction, the chief executive officer now owns 788,821 shares in the company, valued at $76,973,153.18. This represents a 3.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 90,000 shares of company stock worth $8,414,400. Insiders own 2.33% of the company’s stock.

Hedge Funds Weigh In On Mr. Cooper Group

Several large investors have recently made changes to their positions in the company. LSV Asset Management increased its holdings in Mr. Cooper Group by 249.2% in the second quarter. LSV Asset Management now owns 633,260 shares of the company’s stock valued at $51,440,000 after buying an additional 451,926 shares in the last quarter. FMR LLC increased its stake in shares of Mr. Cooper Group by 42.9% in the 3rd quarter. FMR LLC now owns 485,907 shares of the company’s stock valued at $44,791,000 after purchasing an additional 145,767 shares in the last quarter. Basswood Capital Management L.L.C. raised its holdings in Mr. Cooper Group by 36.6% in the 3rd 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 during the period. Assenagon Asset Management S.A. boosted its position in Mr. Cooper Group by 11.1% during the third quarter. Assenagon Asset Management S.A. now owns 1,247,434 shares of the company’s stock worth $114,988,000 after purchasing an additional 125,055 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in Mr. Cooper Group in the second quarter valued at approximately $8,224,000. 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. Compass Point lifted their price objective on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Barclays lifted their price target 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. Finally, Wedbush reissued an “outperform” rating and issued a $115.00 price objective on shares of Mr. Cooper Group in a report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $100.57.

Mr. Cooper Group Stock Performance

Shares of COOP opened at $93.54 on Friday. The business’s 50-day moving average is $96.23 and its two-hundred day moving average is $91.58. The company has a market capitalization of $5.99 billion, a P/E ratio of 12.09 and a beta of 1.43. Mr. Cooper Group has a fifty-two week low of $61.38 and a fifty-two week high of $103.05.

Mr. Cooper Group (NASDAQ:COOP) last posted its earnings results on Wednesday, October 23rd. The company reported $2.84 EPS for the quarter, topping the consensus estimate of $2.54 by $0.30. Mr. Cooper Group had a return on equity of 13.77% and a net margin of 25.87%. The firm had revenue of $616.00 million for the quarter, compared to analyst estimates of $548.09 million. During the same period last year, the company earned $2.79 earnings per share. Mr. Cooper Group’s revenue for the quarter was up 32.8% compared to the same quarter last year. Analysts forecast that Mr. Cooper Group will post 10.16 EPS for the current 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.