Mr. Cooper Group Sees Unusually Large Options Volume (NASDAQ:COOP)

Mr. Cooper Group Inc. (NASDAQ:COOPGet Rating) was the target of unusually large options trading on Wednesday. Stock traders purchased 10,613 call options on the company. This is an increase of approximately 3,637% compared to the typical daily volume of 284 call options.

In other news, CEO Jesse K. Bray sold 46,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 20th. The stock was sold at an average price of $46.50, for a total value of $2,139,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,094,915 shares of the company’s stock, valued at approximately $50,913,547.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Eldridge A. Burns sold 3,603 shares of the firm’s stock in a transaction that occurred on Friday, March 4th. The shares were sold at an average price of $49.29, for a total value of $177,591.87. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,603 shares of company stock worth $4,269,292. Corporate insiders own 2.59% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Exchange Traded Concepts LLC raised its stake in shares of Mr. Cooper Group by 1.9% during the 4th quarter. Exchange Traded Concepts LLC now owns 15,355 shares of the company’s stock worth $639,000 after acquiring an additional 279 shares in the last quarter. Legend Financial Advisors Inc. grew its stake in Mr. Cooper Group by 1.1% during the 3rd quarter. Legend Financial Advisors Inc. now owns 29,754 shares of the company’s stock worth $1,225,000 after buying an additional 314 shares during the last quarter. Profund Advisors LLC grew its stake in Mr. Cooper Group by 5.2% during the 3rd quarter. Profund Advisors LLC now owns 7,892 shares of the company’s stock worth $325,000 after buying an additional 389 shares during the last quarter. Captrust Financial Advisors grew its stake in Mr. Cooper Group by 7.2% during the 1st quarter. Captrust Financial Advisors now owns 5,987 shares of the company’s stock worth $273,000 after buying an additional 401 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in Mr. Cooper Group by 91.5% during the 1st quarter. Federated Hermes Inc. now owns 879 shares of the company’s stock worth $40,000 after buying an additional 420 shares during the last quarter. Hedge funds and other institutional investors own 83.01% of the company’s stock.

A number of research firms have recently commented on COOP. Barclays cut their target price on Mr. Cooper Group from $48.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 26th. TheStreet raised Mr. Cooper Group from a “c+” rating to a “b” rating in a research note on Wednesday, May 4th. BTIG Research started coverage on shares of Mr. Cooper Group in a research note on Wednesday, April 20th. They set a “neutral” rating for the company. Wedbush boosted their target price on shares of Mr. Cooper Group from $50.00 to $60.00 in a research note on Monday, February 14th. Finally, Zacks Investment Research lowered shares of Mr. Cooper Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Mr. Cooper Group presently has a consensus rating of “Hold” and an average price target of $56.40.

NASDAQ COOP opened at $42.65 on Thursday. The firm’s 50 day moving average price is $43.94 and its 200-day moving average price is $43.89. Mr. Cooper Group has a 52-week low of $31.79 and a 52-week high of $52.34. The company has a market cap of $3.15 billion, a PE ratio of 2.28 and a beta of 1.39.

Mr. Cooper Group (NASDAQ:COOPGet Rating) last issued its quarterly earnings data on Thursday, April 28th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.19. The firm had revenue of $625.00 million during the quarter, compared to analysts’ expectations of $591.14 million. Mr. Cooper Group had a return on equity of 16.11% and a net margin of 48.79%. The firm’s quarterly revenue was down 50.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.87 EPS. As a group, equities research analysts expect that Mr. Cooper Group will post 3.52 earnings per share for the current year.

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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