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

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

Insider Activity at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $112.24, for a total transaction of $3,367,200.00. Following the transaction, the chief executive officer now directly owns 698,821 shares of the company’s stock, valued at $78,435,669.04. The trade was a 4.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Norges Bank bought a new stake in shares of Mr. Cooper Group during the 4th quarter worth approximately $72,984,000. 140 Summer Partners LP purchased a new stake in shares of Mr. Cooper Group during the fourth quarter valued at $69,959,000. Veridan Wealth LLC bought a new position in shares of Mr. Cooper Group in the fourth quarter worth about $56,244,000. Wellington Management Group LLP increased its stake in Mr. Cooper Group by 43.1% in the 4th quarter. Wellington Management Group LLP now owns 1,138,904 shares of the company’s stock worth $109,346,000 after buying an additional 343,243 shares during the period. Finally, Cercano Management LLC lifted its holdings in Mr. Cooper Group by 66.5% during the 4th quarter. Cercano Management LLC now owns 790,753 shares of the company’s stock valued at $75,920,000 after buying an additional 315,801 shares in the last quarter. Institutional investors own 89.82% of the company’s stock.

Mr. Cooper Group Stock Up 0.4 %

Mr. Cooper Group stock opened at $103.55 on Thursday. The firm’s fifty day moving average is $104.73 and its 200 day moving average is $97.87. The company has a market cap of $6.59 billion, a price-to-earnings ratio of 10.17, a PEG ratio of 0.32 and a beta of 1.49. Mr. Cooper Group has a 52-week low of $73.87 and a 52-week high of $114.05.

Mr. Cooper Group (NASDAQ:COOP) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $2.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.65 by $0.08. Mr. Cooper Group had a return on equity of 14.76% and a net margin of 30.07%. On average, equities research analysts anticipate that Mr. Cooper Group will post 13.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on COOP shares. Keefe, Bruyette & Woods upped their price target on shares of Mr. Cooper Group from $105.00 to $115.00 and gave the stock a “market perform” rating in a research report on Thursday, February 13th. Barclays upped their target price on shares of Mr. Cooper Group from $111.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Citizens Jmp upgraded Mr. Cooper Group to a “strong-buy” rating in a research report on Tuesday, January 14th. Piper Sandler increased their target price on Mr. Cooper Group from $113.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 22nd. Finally, UBS Group boosted their price target on Mr. Cooper Group from $122.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $112.22.

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.