Stock Traders Buy High Volume of Call Options on Mr. Cooper Group (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.

Mr. Cooper Group Stock Up 0.4 %

COOP stock opened at $77.51 on Thursday. The business has a 50 day moving average price of $75.29 and a 200 day moving average price of $67.14. The stock has a market cap of $5.02 billion, a price-to-earnings ratio of 8.12 and a beta of 1.38. Mr. Cooper Group has a fifty-two week low of $41.74 and a fifty-two week high of $81.98.

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Mr. Cooper Group news, President Michael S. Weinbach acquired 17,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was purchased at an average cost of $71.16 per share, with a total value of $1,209,720.00. Following the transaction, the president now owns 17,000 shares of the company’s stock, valued at $1,209,720. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Mr. Cooper Group news, President Michael S. Weinbach acquired 17,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was purchased at an average cost of $71.16 per share, with a total value of $1,209,720.00. Following the transaction, the president now owns 17,000 shares of the company’s stock, valued at $1,209,720. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jesse K. Bray sold 25,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $78.09, for a total value of $1,952,250.00. Following the sale, the chief executive officer now directly owns 334,631 shares of the company’s stock, valued at $26,131,334.79. The disclosure for this sale can be found here. In the last ninety days, insiders sold 75,000 shares of company stock valued at $5,712,250. 2.33% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mr. Cooper Group

Several institutional investors have recently added to or reduced their stakes in COOP. Norges Bank purchased a new stake in Mr. Cooper Group in the fourth quarter valued at approximately $47,104,000. Assenagon Asset Management S.A. lifted its stake in Mr. Cooper Group by 94.9% in the third quarter. Assenagon Asset Management S.A. now owns 1,411,766 shares of the company’s stock valued at $75,614,000 after buying an additional 687,321 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Mr. Cooper Group by 198.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 663,530 shares of the company’s stock valued at $43,209,000 after buying an additional 441,282 shares during the last quarter. Vanguard Group Inc. lifted its stake in Mr. Cooper Group by 5.4% in the fourth quarter. Vanguard Group Inc. now owns 7,626,038 shares of the company’s stock valued at $496,608,000 after buying an additional 391,780 shares during the last quarter. Finally, Cercano Management LLC purchased a new stake in Mr. Cooper Group in the fourth quarter valued at approximately $23,527,000. 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.