Traders Buy High Volume of Call Options on Mr. Cooper Group (NASDAQ:COOP)

Mr. Cooper Group Inc. (NASDAQ:COOPGet Rating) saw some unusual options trading on Wednesday. Investors purchased 10,613 call options on the company. This represents an increase of 3,637% compared to the average daily volume of 284 call options.

In other news, CEO Jesse K. Bray sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 22nd. The stock was sold at an average price of $50.04, for a total value of $500,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Eldridge A. Burns sold 3,603 shares of the business’s stock in a transaction that occurred on Friday, March 4th. The shares were sold at an average price of $49.29, for a total value of $177,591.87. The disclosure for this sale can be found here. Insiders own 2.17% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of COOP. Clearline Capital LP boosted its holdings in shares of Mr. Cooper Group by 75.7% in the third quarter. Clearline Capital LP now owns 95,697 shares of the company’s stock valued at $3,940,000 after purchasing an additional 41,233 shares during the period. Mutual of America Capital Management LLC grew its position in Mr. Cooper Group by 18.8% during the 3rd quarter. Mutual of America Capital Management LLC now owns 11,488 shares of the company’s stock worth $473,000 after purchasing an additional 1,814 shares during the period. Legend Financial Advisors Inc. boosted its stake in shares of Mr. Cooper Group by 1.1% during the 3rd quarter. Legend Financial Advisors Inc. now owns 29,754 shares of the company’s stock worth $1,225,000 after acquiring an additional 314 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in Mr. Cooper Group by 25.1% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 65,319 shares of the company’s stock valued at $2,689,000 after buying an additional 13,099 shares in the last quarter. Finally, Amalgamated Bank lifted its stake in Mr. Cooper Group by 15.5% in the 3rd quarter. Amalgamated Bank now owns 39,183 shares of the company’s stock valued at $1,613,000 after buying an additional 5,254 shares in the last quarter. 83.66% of the stock is currently owned by institutional investors.

Shares of NASDAQ:COOP opened at $46.30 on Thursday. Mr. Cooper Group has a 52-week low of $30.53 and a 52-week high of $52.34. The firm has a market capitalization of $3.45 billion, a P/E ratio of 2.88 and a beta of 1.47. The stock has a 50 day moving average price of $47.24 and a 200-day moving average price of $43.76.

Mr. Cooper Group (NASDAQ:COOPGet Rating) last released its quarterly earnings results on Friday, February 11th. The company reported $1.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.24. Mr. Cooper Group had a return on equity of 23.73% and a net margin of 42.72%. On average, analysts forecast that Mr. Cooper Group will post 5.36 earnings per share for the current fiscal year.

A number of research analysts recently weighed in on the company. Wedbush lifted their target price on Mr. Cooper Group from $50.00 to $60.00 in a report on Monday, February 14th. BTIG Research started coverage on shares of Mr. Cooper Group in a report on Wednesday. They issued a “neutral” rating for the company. Zacks Investment Research upgraded shares of Mr. Cooper Group from a “sell” rating to a “hold” rating in a research note on Tuesday, February 15th. Barclays dropped their price objective on Mr. Cooper Group from $51.00 to $48.00 and set an “equal weight” rating for the company in a report on Tuesday, April 12th. Finally, Piper Sandler increased their target price on Mr. Cooper Group from $60.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday, February 14th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $57.20.

Mr. Cooper Group Company Profile (Get Rating)

Mr. Cooper Group Inc provides servicing, origination, and transaction-based services related to single-family residences in the United States. The company operates through two segments: Servicing and Originations. The Servicing segment performs activities for underlying mortgages, including collecting and disbursing borrower payments, investor reporting, customer service, and modifying loans.

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