Mr. Cooper Group Target of Unusually High Options Trading (NASDAQ:COOP)

Mr. Cooper Group Inc. (NASDAQ:COOP – Get Rating) was the target of unusually large options trading on Monday. Stock investors bought 30,787 put options on the stock. This represents an increase of approximately 2,090% compared to the average daily volume of 1,406 put options.

Mr. Cooper Group Price Performance

NASDAQ:COOP opened at $40.97 on Wednesday. The business has a 50 day moving average of $45.11 and a 200 day moving average of $43.24. The company has a market capitalization of $2.84 billion, a price-to-earnings ratio of 3.36 and a beta of 1.57. Mr. Cooper Group has a 1-year low of $35.81 and a 1-year high of $49.00.

Insiders Place Their Bets

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 21,000 shares of the firm’s stock in a transaction dated Wednesday, December 28th. The stock was sold at an average price of $39.78, for a total value of $835,380.00. Following the completion of the transaction, the chief executive officer now owns 697,291 shares in the company, valued at approximately $27,738,235.98. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 63,000 shares of company stock worth $2,771,370 in the last quarter. 2.59% of the stock is owned by company insiders.

Institutional Trading of Mr. Cooper Group

A number of hedge funds have recently bought and sold shares of COOP. Raymond James Financial Services Advisors Inc. bought a new stake in Mr. Cooper Group in the 1st quarter worth approximately $642,000. Cetera Advisor Networks LLC increased its stake in Mr. Cooper Group by 10.9% in the 1st quarter. Cetera Advisor Networks LLC now owns 5,435 shares of the company’s stock worth $248,000 after purchasing an additional 533 shares during the period. Citigroup Inc. increased its stake in Mr. Cooper Group by 37.5% in the 1st quarter. Citigroup Inc. now owns 93,768 shares of the company’s stock worth $4,283,000 after purchasing an additional 25,580 shares during the period. Natixis Advisors L.P. increased its stake in Mr. Cooper Group by 26.7% in the 1st quarter. Natixis Advisors L.P. now owns 15,355 shares of the company’s stock worth $701,000 after purchasing an additional 3,239 shares during the period. Finally, Bank of Montreal Can increased its stake in Mr. Cooper Group by 4.3% in the 1st quarter. Bank of Montreal Can now owns 20,963 shares of the company’s stock worth $978,000 after purchasing an additional 869 shares during the period. Institutional investors own 83.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on COOP shares. Barclays lifted their price target on Mr. Cooper Group from $41.00 to $48.00 and gave the company an “equal weight” rating in a research report on Monday, February 13th. Wedbush reiterated an “outperform” rating on shares of Mr. Cooper Group in a research report on Monday, February 13th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $57.00 price target on shares of Mr. Cooper Group in a research report on Monday, February 13th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.60.

About Mr. Cooper Group

(Get Rating)

Mr. Cooper Group, Inc engages in the provision of residential loan services. It operated through the following segments: Servicing, and Originations. The Servicing segment consists of collecting loan payments, remitting principal and interest payments to investors, managing escrow funds for the payment of mortgage-related expenses, such as taxes and insurance, performing loss mitigation activities on behalf of investors and otherwise administering mortgage loan servicing portfolio.