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

Mr. Cooper Group Inc. (NASDAQ:COOP) saw unusually large options trading activity on Wednesday. Traders bought 10,613 call options on the stock. This is an increase of 3,637% compared to the average daily volume of 284 call options.

Insiders Place Their Bets

In related news, CEO Jesse K. Bray sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $88.41, for a total transaction of $2,652,300.00. Following the completion of the sale, the chief executive officer now directly owns 818,821 shares of the company’s stock, valued at approximately $72,391,964.61. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Mr. Cooper Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Mr. Cooper Group by 0.6% in the first quarter. Vanguard Group Inc. now owns 7,668,898 shares of the company’s stock valued at $597,791,000 after buying an additional 42,860 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Mr. Cooper Group by 11.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,247,434 shares of the company’s stock valued at $114,988,000 after acquiring an additional 125,055 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Mr. Cooper Group by 6.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 916,365 shares of the company’s stock worth $84,471,000 after acquiring an additional 52,001 shares during the period. LSV Asset Management raised its holdings in shares of Mr. Cooper Group by 249.2% during 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 last quarter. Finally, Cercano Management LLC raised its holdings in shares of Mr. Cooper Group by 39.1% during the first quarter. Cercano Management LLC now owns 502,618 shares of the company’s stock worth $39,179,000 after purchasing an additional 141,332 shares during the last quarter. 89.82% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods cut shares of Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 price target for the company. in a research report on Monday, July 22nd. Barclays upped their target price on Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Wedbush reissued an “outperform” rating and issued a $115.00 price target on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Compass Point upped their price objective on Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Piper Sandler lifted their target price on Mr. Cooper Group from $91.00 to $106.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $98.00.

Mr. Cooper Group Price Performance

Mr. Cooper Group stock traded up $0.29 during midday trading on Thursday, reaching $97.99. The company’s stock had a trading volume of 14,196 shares, compared to its average volume of 451,426. The stock has a market capitalization of $6.27 billion, a P/E ratio of 12.66 and a beta of 1.40. The stock’s 50-day simple moving average is $92.64 and its 200-day simple moving average is $87.58. Mr. Cooper Group has a 52-week low of $56.64 and a 52-week high of $103.05.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $2.84 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $548.09 million. During the same period last year, the firm posted $2.79 EPS. Mr. Cooper Group’s revenue was up 32.8% on a year-over-year basis. As a group, equities research analysts expect that Mr. Cooper Group will post 10.17 earnings per share for the current fiscal year.

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.