Mr. Cooper Group Target of Unusually Large Options Trading (NASDAQ:COOP)

Mr. Cooper Group Inc. (NASDAQ:COOP) was the target of some unusual options trading activity on Wednesday. Traders purchased 10,613 call options on the stock. This is an increase of 3,637% compared to the average volume of 284 call options.

Mr. Cooper Group Trading Up 0.8 %

Shares of COOP stock opened at $93.54 on Friday. Mr. Cooper Group has a twelve month low of $61.38 and a twelve month high of $103.05. The stock has a market cap of $5.99 billion, a price-to-earnings ratio of 12.09 and a beta of 1.43. The company’s 50-day moving average price is $96.23 and its 200-day moving average price is $91.58.

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

Insider Buying and Selling at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $97.58, for a total transaction of $2,927,400.00. Following the completion of the transaction, the chief executive officer now owns 788,821 shares of the company’s stock, valued at $76,973,153.18. This represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 90,000 shares of company stock valued at $8,414,400 over the last ninety days. Corporate insiders own 2.33% of the company’s stock.

Institutional Investors Weigh In On Mr. Cooper Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC increased its position in shares of Mr. Cooper Group by 8,275.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company’s stock worth $27,000 after purchasing an additional 331 shares during the last quarter. Quarry LP purchased a new position in Mr. Cooper Group during the second quarter worth about $29,000. Financial Management Professionals Inc. acquired a new stake in shares of Mr. Cooper Group during the third quarter valued at about $30,000. Harvest Fund Management Co. Ltd raised its stake in shares of Mr. Cooper Group by 152.5% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock valued at $41,000 after acquiring an additional 270 shares during the period. Finally, Harbor Capital Advisors Inc. acquired a new position in shares of Mr. Cooper Group in the 3rd quarter worth approximately $52,000. Institutional investors and hedge funds own 89.82% of the company’s stock.

Wall Street Analysts Forecast Growth

COOP has been the subject of several recent research reports. Barclays increased their price objective on Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research note 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 note on Thursday, October 24th. Finally, Compass Point boosted their price target on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $100.57.

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.