Investors Buy Large Volume of Call Options on Mr. Cooper Group (NASDAQ:COOP)

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

Wall Street Analyst Weigh In

COOP has been the topic of a number of analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $115.00 price target on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Compass Point boosted their target price on Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Barclays upped 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. Piper Sandler upped their price target on Mr. Cooper Group from $113.00 to $120.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, JMP Securities assumed coverage on Mr. Cooper Group in a research report on Tuesday, January 14th. They set an “outperform” rating and a $115.00 target price for the company. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $104.13.

Mr. Cooper Group Trading Up 0.2 %

COOP opened at $102.87 on Friday. The stock has a fifty day moving average price of $96.89 and a 200-day moving average price of $92.89. Mr. Cooper Group has a 12 month low of $64.35 and a 12 month high of $105.00. The firm has a market cap of $6.58 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 0.30 and a beta of 1.43.

Mr. Cooper Group (NASDAQ:COOP) last issued its earnings results on Wednesday, October 23rd. The company reported $2.84 EPS for the quarter, topping analysts’ consensus estimates of $2.54 by $0.30. The firm had revenue of $616.00 million for the quarter, compared to the consensus estimate of $548.09 million. Mr. Cooper Group had a return on equity of 13.77% and a net margin of 25.87%. The company’s revenue was up 32.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.79 earnings per share. On average, equities research analysts forecast that Mr. Cooper Group will post 10.18 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Jesse K. Bray sold 30,000 shares of the business’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 value of $2,652,300.00. Following the completion of the sale, the chief executive officer now owns 818,821 shares in the company, valued at $72,391,964.61. The trade was a 3.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 90,000 shares of company stock worth $8,414,400 in the last quarter. 2.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mr. Cooper Group

A number of hedge funds have recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Mr. Cooper Group by 9,175.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 4,916 shares of the company’s stock valued at $472,000 after acquiring an additional 4,863 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in 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. Cynosure Group LLC purchased a new position in Mr. Cooper Group in the third quarter worth approximately $730,000. World Investment Advisors LLC purchased a new position in shares of Mr. Cooper Group during the third quarter worth $2,537,000. Finally, FMR LLC boosted its holdings in Mr. Cooper Group by 42.9% in the third quarter. FMR LLC now owns 485,907 shares of the company’s stock valued at $44,791,000 after purchasing an additional 145,767 shares during the period. Hedge funds and other institutional investors own 89.82% of the company’s stock.

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.