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

Mr. Cooper Group Inc. (NASDAQ:COOP) was the target of some unusual options trading activity on Wednesday. Stock investors purchased 10,613 call options on the company. This represents an increase of approximately 3,637% compared to the average volume of 284 call options.

Insider Activity

In other 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 directly owns 818,821 shares in the company, valued at approximately $72,391,964.61. The trade was a 3.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 2.33% of the company’s stock.

Institutional Investors Weigh In On Mr. Cooper Group

Several hedge funds have recently modified their holdings of the stock. Tidal Investments LLC acquired a new stake in Mr. Cooper Group during the 3rd quarter worth about $2,459,000. World Investment Advisors LLC acquired a new stake in Mr. Cooper Group during the 3rd quarter valued at $2,537,000. Sanctuary Advisors LLC boosted its position in shares of Mr. Cooper Group by 137.1% in the third quarter. Sanctuary Advisors LLC now owns 18,843 shares of the company’s stock worth $1,873,000 after buying an additional 10,895 shares during the period. Vestcor Inc acquired a new position in Mr. Cooper Group during the third quarter valued at $640,000. Finally, Barclays PLC raised its position in Mr. Cooper Group by 198.0% during the third quarter. Barclays PLC now owns 132,017 shares of the company’s stock valued at $12,170,000 after buying an additional 87,712 shares during the period. 89.82% of the stock is owned by hedge funds and other institutional investors.

Mr. Cooper Group Price Performance

Shares of COOP opened at $98.33 on Thursday. The firm’s 50 day moving average is $93.92 and its 200-day moving average is $88.74. Mr. Cooper Group has a 12-month low of $59.03 and a 12-month high of $103.05. The stock has a market capitalization of $6.29 billion, a P/E ratio of 12.70 and a beta of 1.40.

Mr. Cooper Group (NASDAQ:COOP) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.30. The company had revenue of $616.00 million for the quarter, compared to analysts’ expectations of $548.09 million. Mr. Cooper Group had a return on equity of 13.77% and a net margin of 25.87%. The firm’s revenue was up 32.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.79 earnings per share. As a group, equities research analysts forecast that Mr. Cooper Group will post 10.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

COOP has been the topic of a number of research reports. Compass Point increased their price target on Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Wedbush reissued an “outperform” rating and set a $115.00 price target on shares of Mr. Cooper Group in a report on Thursday, October 24th. Finally, Barclays increased their price objective on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $98.00.

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.