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

Posted by on Apr 21st, 2022

Mr. Cooper Group Inc. (NASDAQ:COOP – Get Rating) saw some unusual options trading activity on Wednesday. Investors acquired 10,613 call options on the company. This represents an increase of approximately 3,637% compared to the typical volume of 284 call options.

Shares of NASDAQ COOP opened at $46.30 on Thursday. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 2.88 and a beta of 1.47. The business’s 50-day simple moving average is $47.24 and its 200-day simple moving average is $43.76. Mr. Cooper Group has a 52 week low of $30.53 and a 52 week high of $52.34.

Mr. Cooper Group (NASDAQ:COOP – Get Rating) last posted its quarterly earnings results on Friday, February 11th. The company reported $1.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.24. Mr. Cooper Group had a net margin of 42.72% and a return on equity of 23.73%. As a group, analysts predict that Mr. Cooper Group will post 5.36 earnings per share for the current year.

A number of research firms recently weighed in on COOP. Credit Suisse Group lifted their price objective on shares of Mr. Cooper Group from $52.00 to $59.00 and gave the company an “outperform” rating in a research report on Monday, February 14th. Wedbush boosted their target price on Mr. Cooper Group from $50.00 to $60.00 in a report on Monday, February 14th. Zacks Investment Research upgraded Mr. Cooper Group from a “sell” rating to a “hold” rating in a report on Tuesday, February 15th. BTIG Research assumed coverage on Mr. Cooper Group in a research report on Wednesday. They issued a “neutral” rating on the stock. Finally, Barclays dropped their price target on Mr. Cooper Group from $51.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 12th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $57.20.

In related news, CEO Jesse K. Bray sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $50.04, for a total value of $500,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Eldridge A. Burns sold 3,603 shares of the stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $49.29, for a total transaction of $177,591.87. The disclosure for this sale can be found here. Company insiders own 2.17% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of COOP. Salem Investment Counselors Inc. acquired a new stake in Mr. Cooper Group in the 4th quarter valued at $83,000. Maverick Capital Ltd. acquired a new position in shares of Mr. Cooper Group in the 4th quarter valued at approximately $132,000. Marshall Wace LLP acquired a new position in shares of Mr. Cooper Group in the 4th quarter valued at approximately $172,000. Point72 Hong Kong Ltd acquired a new position in Mr. Cooper Group during the 3rd quarter worth approximately $195,000. Finally, Versor Investments LP acquired a new position in Mr. Cooper Group during the 4th quarter worth approximately $200,000. Institutional investors own 83.66% of the company’s stock.

Mr. Cooper Group Company Profile (Get Rating)

Mr. Cooper Group Inc provides servicing, origination, and transaction-based services related to single-family residences in the United States. The company operates through two segments: Servicing and Originations. The Servicing segment performs activities for underlying mortgages, including collecting and disbursing borrower payments, investor reporting, customer service, and modifying loans.

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