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

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

Insider Activity

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $80.93, for a total value of $2,023,250.00. Following the completion of the transaction, the chief executive officer now directly owns 259,631 shares in the company, valued at $21,011,936.83. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.33% of the company’s stock.

Institutional Investors Weigh In On Mr. Cooper Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Mr. Cooper Group by 0.6% during the first quarter. Vanguard Group Inc. now owns 7,668,898 shares of the company’s stock worth $597,791,000 after buying an additional 42,860 shares during the period. Wellington Management Group LLP raised its position in Mr. Cooper Group by 1.5% in the 4th quarter. Wellington Management Group LLP now owns 1,714,900 shares of the company’s stock valued at $111,674,000 after purchasing an additional 25,351 shares during the last quarter. Norges Bank acquired a new stake in shares of Mr. Cooper Group during the fourth quarter worth about $47,104,000. Goldman Sachs Group Inc. grew its stake in shares of Mr. Cooper Group by 198.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 663,530 shares of the company’s stock valued at $43,209,000 after purchasing an additional 441,282 shares during the last quarter. Finally, LSV Asset Management increased its stake in Mr. Cooper Group by 249.2% in the 2nd quarter. LSV Asset Management now owns 633,260 shares of the company’s stock valued at $51,440,000 after buying an additional 451,926 shares during the period. Institutional investors and hedge funds own 89.82% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Piper Sandler boosted their price objective on Mr. Cooper Group from $91.00 to $106.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Wedbush lifted their price objective on shares of Mr. Cooper Group from $100.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Barclays raised their price objective on Mr. Cooper Group from $94.00 to $103.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, Keefe, Bruyette & Woods downgraded Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 target price for the company. in a report on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Mr. Cooper Group has a consensus rating of “Moderate Buy” and a consensus price target of $95.57.

Mr. Cooper Group Price Performance

Shares of NASDAQ:COOP opened at $92.35 on Friday. The firm has a market capitalization of $5.98 billion, a price-to-earnings ratio of 9.82 and a beta of 1.41. The business’s 50 day moving average price is $89.49 and its 200-day moving average price is $82.76. Mr. Cooper Group has a 1 year low of $52.46 and a 1 year high of $96.00.

Mr. Cooper Group (NASDAQ:COOP) last issued its earnings results on Thursday, July 25th. The company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.19. Mr. Cooper Group had a return on equity of 14.10% and a net margin of 33.22%. The company had revenue of $583.00 million during the quarter, compared to analysts’ expectations of $552.09 million. During the same period in the prior year, the business earned $1.66 EPS. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. On average, sell-side analysts expect that Mr. Cooper Group will post 9.86 earnings per share for the current year.

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.