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

Mr. Cooper Group Inc. (NASDAQ:COOP) was the target of some unusual options trading on Wednesday. Traders bought 10,613 call options on the stock. This represents an increase of approximately 3,637% compared to the average volume of 284 call options.

Analyst Ratings Changes

COOP has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Mr. Cooper Group in a research report on Wednesday, January 10th. They set a “buy” rating and a $88.00 target price on the stock. Keefe, Bruyette & Woods increased their price objective on Mr. Cooper Group from $83.00 to $86.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 9th. Barclays increased their price objective on Mr. Cooper Group from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Finally, Wedbush increased their price objective on Mr. Cooper Group from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, February 12th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $78.50.

Insider Activity at Mr. Cooper Group

In other news, President Michael S. Weinbach acquired 17,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were acquired 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 owns 17,000 shares in the company, valued at $1,209,720. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, President Michael S. Weinbach bought 17,000 shares of the company’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 transaction, the president now directly owns 17,000 shares in the company, valued at approximately $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 stock in a transaction on Monday, January 29th. The stock was sold at an average price of $67.56, for a total value of $1,689,000.00. Following the sale, the chief executive officer now owns 391,051 shares in the company, valued at approximately $26,419,405.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,000 shares of company stock worth $5,431,500. Insiders own 3.11% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. USA Financial Formulas bought a new position in Mr. Cooper Group in the fourth quarter valued at $25,000. Federated Hermes Inc. increased its stake in Mr. Cooper Group by 55.1% in the third 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 Mr. Cooper Group by 95.0% in the first 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 position in Mr. Cooper Group in the fourth quarter valued at $61,000. Finally, Quest Partners LLC bought a new position in Mr. Cooper Group in the fourth quarter valued at $61,000. Institutional investors own 89.82% of the company’s stock.

Mr. Cooper Group Stock Performance

Shares of COOP stock opened at $75.77 on Friday. Mr. Cooper Group has a 52-week low of $41.74 and a 52-week high of $78.54. The company has a market capitalization of $4.94 billion, a PE ratio of 10.32 and a beta of 1.38. The business’s fifty day moving average is $74.37 and its 200 day moving average is $65.61.

Mr. Cooper Group (NASDAQ:COOP) last released its earnings results on Friday, February 9th. The company reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.34. The business had revenue of $404.00 million for 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%. On average, sell-side analysts forecast that Mr. Cooper Group will post 9.01 EPS for the current fiscal year.

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.