Investors Purchase Large Volume of Call Options on Mr. Cooper Group (NASDAQ:COOP)

Mr. Cooper Group Inc. (NASDAQ:COOP) saw unusually large options trading activity on Wednesday. Stock investors purchased 10,613 call options on the stock. This represents an increase of 3,637% compared to the average volume of 284 call options.

Wall Street Analysts Forecast Growth

COOP has been the subject of a number of analyst reports. Barclays upped their target price on Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Wedbush reaffirmed an “outperform” rating and set a $115.00 price objective on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Finally, Compass Point boosted their target price on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $98.00.

Mr. Cooper Group Stock Performance

Shares of NASDAQ COOP opened at $98.33 on Friday. Mr. Cooper Group has a fifty-two week low of $59.03 and a fifty-two week high of $103.05. The company has a market cap of $6.29 billion, a PE ratio of 12.70 and a beta of 1.40. The business has a 50-day simple moving average of $94.02 and a two-hundred day simple moving average of $88.80.

Mr. Cooper Group (NASDAQ:COOP) last released its earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.30. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%. The company had revenue of $616.00 million for the quarter, compared to the consensus estimate of $548.09 million. During the same quarter in the previous year, the firm earned $2.79 EPS. Mr. Cooper Group’s revenue was up 32.8% compared to the same quarter last year. On average, sell-side analysts predict that Mr. Cooper Group will post 10.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jesse K. Bray sold 30,000 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $88.41, for a total value of $2,652,300.00. Following the completion of the sale, the chief executive officer now owns 818,821 shares in the company, valued at approximately $72,391,964.61. The trade was a 3.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Tidal Investments LLC purchased a new stake in shares of Mr. Cooper Group in the 3rd quarter valued at $2,459,000. World Investment Advisors LLC purchased a new stake in Mr. Cooper Group in the third quarter valued at $2,537,000. Sanctuary Advisors LLC grew its position in Mr. Cooper Group by 137.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 18,843 shares of the company’s stock worth $1,873,000 after purchasing an additional 10,895 shares during the period. Vestcor Inc acquired a new stake in Mr. Cooper Group during the 3rd quarter worth about $640,000. Finally, Barclays PLC lifted its holdings in shares of Mr. Cooper Group by 198.0% in the 3rd quarter. Barclays PLC now owns 132,017 shares of the company’s stock valued at $12,170,000 after buying an additional 87,712 shares during the period. 89.82% of the stock is owned by institutional investors and hedge funds.

Mr. Cooper Group Company Profile

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.