Stock Traders Purchase High Volume of Mr. Cooper Group Call Options (NASDAQ:COOP)

Mr. Cooper Group Inc. (NASDAQ:COOP) was the target of unusually large options trading on Wednesday. Traders acquired 10,613 call options on the stock. This is an increase of approximately 3,637% compared to the typical daily volume of 284 call options.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on COOP. Citizens Jmp raised shares of Mr. Cooper Group to a “strong-buy” rating in a research report on Tuesday, January 14th. Wedbush reiterated an “outperform” rating and issued a $115.00 price target on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Compass Point boosted their price objective on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Piper Sandler upped their price objective on shares of Mr. Cooper Group from $113.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Finally, JMP Securities initiated coverage on Mr. Cooper Group in a research report on Tuesday, January 14th. They issued an “outperform” rating and a $115.00 price target on the stock. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Mr. Cooper Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.13.

Mr. Cooper Group Trading Up 0.8 %

Shares of COOP stock opened at $105.56 on Friday. The stock has a market capitalization of $6.75 billion, a price-to-earnings ratio of 13.64, a P/E/G ratio of 0.30 and a beta of 1.43. Mr. Cooper Group has a twelve month low of $65.80 and a twelve month high of $107.85. The stock has a fifty day simple moving average of $98.26 and a two-hundred day simple moving average of $94.28.

Insiders Place Their Bets

In related news, CEO Jesse K. Bray sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $94.49, for a total value of $2,834,700.00. Following the sale, the chief executive officer now directly owns 758,821 shares of the company’s stock, valued at $71,700,996.29. This trade represents a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.33% of the company’s stock.

Hedge Funds Weigh In On Mr. Cooper Group

Large investors have recently bought and sold shares of the business. Williamson Legacy Group LLC increased its position in shares of Mr. Cooper Group by 1.1% in the 4th quarter. Williamson Legacy Group LLC now owns 10,835 shares of the company’s stock valued at $1,040,000 after acquiring an additional 118 shares during the period. Dakota Wealth Management increased its holdings in Mr. Cooper Group by 0.7% in the 4th quarter. Dakota Wealth Management now owns 27,695 shares of the company’s stock worth $2,659,000 after buying an additional 181 shares during the period. Truist Financial Corp lifted its stake in Mr. Cooper Group by 1.6% during the 2nd quarter. Truist Financial Corp now owns 11,840 shares of the company’s stock valued at $962,000 after acquiring an additional 187 shares during the period. First Trust Direct Indexing L.P. raised its holdings in shares of Mr. Cooper Group by 7.6% during the third quarter. First Trust Direct Indexing L.P. now owns 3,021 shares of the company’s stock worth $278,000 after purchasing an additional 213 shares during the last quarter. Finally, Blue Trust Inc. raised its stake in shares of Mr. Cooper Group by 38.8% during the 4th quarter. Blue Trust Inc. now owns 794 shares of the company’s stock valued at $76,000 after buying an additional 222 shares during the last quarter. Institutional investors own 89.82% of the company’s stock.

About Mr. Cooper Group

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.