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

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

Mr. Cooper Group Stock Performance

NASDAQ:COOP opened at $98.33 on Friday. The firm has a market capitalization of $6.29 billion, a PE ratio of 12.70 and a beta of 1.40. The stock’s fifty day moving average is $94.02 and its 200 day moving average is $88.80. Mr. Cooper Group has a fifty-two week low of $59.03 and a fifty-two week high of $103.05.

Mr. Cooper Group (NASDAQ:COOP) last released its earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.30. The firm had revenue of $616.00 million during the quarter, compared to analyst estimates 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 was up 32.8% on a year-over-year basis. During the same quarter last year, the business earned $2.79 EPS. Equities analysts forecast that Mr. Cooper Group will post 10.16 EPS for the current year.

Insider Activity

In other news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $88.41, for a total value 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 $72,391,964.61. This represents a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.33% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of COOP. Blue Trust Inc. grew its holdings in shares of Mr. Cooper Group by 77.1% in the second quarter. Blue Trust Inc. now owns 333 shares of the company’s stock worth $26,000 after purchasing an additional 145 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in Mr. Cooper Group by 8,275.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company’s stock worth $27,000 after acquiring an additional 331 shares in the last quarter. Quarry LP purchased a new position in shares of Mr. Cooper Group during the second quarter worth approximately $29,000. Financial Management Professionals Inc. purchased a new position in shares of Mr. Cooper Group during the third quarter worth approximately $30,000. Finally, Harvest Fund Management Co. Ltd raised its stake in shares of Mr. Cooper Group by 152.5% during the third 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 in the last quarter. Hedge funds and other institutional investors own 89.82% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Barclays raised their price target on Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Wedbush reiterated an “outperform” rating and set a $115.00 price objective on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Finally, 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 report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Mr. Cooper Group presently has a consensus rating of “Moderate Buy” and an average target price of $98.00.

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.