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

Mr. Cooper Group Inc. (NASDAQ:COOP) saw some unusual options trading activity on Wednesday. Stock traders bought 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.

Mr. Cooper Group Trading Up 0.2 %

Shares of NASDAQ:COOP opened at $75.71 on Thursday. The stock has a market capitalization of $4.94 billion, a P/E ratio of 10.31 and a beta of 1.38. Mr. Cooper Group has a 1-year low of $41.74 and a 1-year high of $78.54. The business has a 50-day moving average price of $74.22 and a two-hundred day moving average price of $65.54.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings data on Friday, February 9th. The company reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.34. The firm had revenue of $404.00 million during the quarter, compared to analysts’ expectations of $398.31 million. Mr. Cooper Group had a return on equity of 12.01% and a net margin of 27.87%. As a group, equities analysts predict that Mr. Cooper Group will post 9.01 EPS for the current year.

Insider Activity

In other news, CEO Jesse K. Bray sold 25,000 shares of Mr. Cooper Group stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $78.09, for a total value of $1,952,250.00. Following the transaction, the chief executive officer now owns 334,631 shares of the company’s stock, valued at $26,131,334.79. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Mr. Cooper Group news, President Michael S. Weinbach purchased 17,000 shares of the firm’s 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 purchase, the president now directly owns 17,000 shares of the company’s stock, valued at $1,209,720. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jesse K. Bray sold 25,000 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $78.09, for a total transaction of $1,952,250.00. Following the completion of the sale, the chief executive officer now owns 334,631 shares in the company, valued at approximately $26,131,334.79. The disclosure for this sale can be found here. Insiders have sold a total of 75,000 shares of company stock valued at $5,431,500 over the last 90 days. 3.11% of the stock is currently owned by company insiders.

Institutional Trading of Mr. Cooper Group

Institutional investors and hedge funds have recently modified their holdings of the stock. USA Financial Formulas bought a new stake in shares of Mr. Cooper Group in the 4th quarter valued at about $25,000. Federated Hermes Inc. increased its stake in shares of Mr. Cooper Group by 55.1% in the 3rd quarter. Federated Hermes Inc. now owns 752 shares of the company’s stock valued at $30,000 after acquiring an additional 267 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of Mr. Cooper Group by 95.0% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 780 shares of the company’s stock valued at $32,000 after acquiring an additional 380 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Mr. Cooper Group in the 4th quarter valued at about $61,000. Finally, Quest Partners LLC bought a new stake in shares of Mr. Cooper Group in the 4th quarter valued at about $61,000. 89.82% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Mr. Cooper Group from $83.00 to $86.00 and gave the company an “outperform” rating in a research note on Tuesday, April 9th. Barclays upped their price target on shares of Mr. Cooper Group from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Wedbush upped their price target on shares of Mr. Cooper Group from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, February 12th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Mr. Cooper Group in a research report on Wednesday, January 10th. They set a “buy” rating and a $88.00 price target on the stock. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $78.50.

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.