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

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

Mr. Cooper Group Trading Up 6.8 %

NASDAQ:COOP opened at $133.56 on Thursday. Mr. Cooper Group has a 1-year low of $74.49 and a 1-year high of $137.60. The firm has a market capitalization of $8.49 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 0.32 and a beta of 1.49. The business’s fifty day moving average price is $107.42 and its 200 day moving average price is $99.39.

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

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 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 transaction, the chief executive officer now owns 698,821 shares in the company, valued at $78,435,669.04. This trade represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.33% of the stock is owned by insiders.

Hedge Funds Weigh In On Mr. Cooper Group

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Piper Sandler boosted their price objective on Mr. Cooper Group from $113.00 to $120.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 22nd. JMP Securities reissued a “market outperform” rating and issued a $115.00 price target on shares of Mr. Cooper Group in a report on Thursday, February 13th. Keefe, Bruyette & Woods boosted their target price on shares of Mr. Cooper Group from $105.00 to $115.00 and gave the stock a “market perform” rating in a report on Thursday, February 13th. Barclays increased their target price on shares of Mr. Cooper Group from $111.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, Citizens Jmp raised Mr. Cooper Group to a “strong-buy” rating in a report on Tuesday, January 14th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $112.22.

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.