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

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

Wall Street Analysts Forecast Growth

COOP has been the topic of a number of analyst reports. Barclays lifted their price target on Mr. Cooper Group from $85.00 to $94.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $92.00 price objective (up previously from $86.00) on shares of Mr. Cooper Group in a research report on Thursday, April 25th. Jefferies Financial Group raised their price objective on Mr. Cooper Group from $74.00 to $80.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. Wedbush lifted their price target on Mr. Cooper Group from $85.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Mr. Cooper Group from $88.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.22.

Mr. Cooper Group Stock Up 0.4 %

Shares of Mr. Cooper Group stock opened at $77.51 on Thursday. Mr. Cooper Group has a twelve month low of $41.74 and a twelve month high of $81.98. The business has a 50-day moving average price of $75.29 and a 200 day moving average price of $67.14. The firm has a market cap of $5.02 billion, a PE ratio of 8.19 and a beta of 1.38.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.17. Mr. Cooper Group had a return on equity of 13.31% and a net margin of 31.75%. The firm had revenue of $564.00 million during the quarter, compared to analyst estimates of $498.15 million. On average, sell-side analysts expect that Mr. Cooper Group will post 9.48 EPS for the current year.

Insider Buying and Selling

In related news, CEO Jesse K. Bray sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $71.61, for a total transaction of $1,790,250.00. Following the completion of the sale, the chief executive officer now directly owns 366,051 shares of the company’s stock, valued at approximately $26,212,912.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Mr. Cooper Group news, CEO Jesse K. Bray sold 25,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $71.61, for a total transaction of $1,790,250.00. Following the transaction, the chief executive officer now directly owns 366,051 shares in the company, valued at approximately $26,212,912.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Michael S. Weinbach acquired 17,000 shares of Mr. Cooper Group stock in a transaction on Tuesday, February 13th. The shares were purchased at an average price of $71.16 per share, for a total transaction of $1,209,720.00. Following the completion of the acquisition, the president now directly owns 17,000 shares in the company, valued at $1,209,720. The disclosure for this purchase can be found here. In the last three months, insiders sold 75,000 shares of company stock valued at $5,712,250. Insiders own 2.33% of the company’s stock.

Hedge Funds Weigh In On Mr. Cooper Group

Several institutional investors and hedge funds have recently modified their holdings of the business. USA Financial Formulas purchased a new stake in Mr. Cooper Group during the 4th quarter worth approximately $25,000. GAMMA Investing LLC purchased a new stake in Mr. Cooper Group during the 4th quarter worth approximately $61,000. Quest Partners LLC purchased a new stake in Mr. Cooper Group during the 4th quarter worth approximately $61,000. Centaurus Financial Inc. purchased a new stake in Mr. Cooper Group during the 4th quarter worth approximately $101,000. Finally, Headlands Technologies LLC increased its stake in Mr. Cooper Group by 637.1% during the 4th quarter. Headlands Technologies LLC now owns 1,651 shares of the company’s stock worth $108,000 after buying an additional 1,427 shares in the last quarter. Hedge funds and other institutional investors own 89.82% of the company’s stock.

About Mr. Cooper Group

Mr. Cooper Group Inc engages in non-banking services for mortgage loans the United States. The company operates through Servicing and Originations segments. The Servicing segment performs activities for underlying mortgages, including collecting and disbursing borrower payments, investor reporting, customer service, and modifying loans.