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

Mr. Cooper Group Inc. (NASDAQ:COOPGet Rating) was the recipient of unusually large options trading activity on Wednesday. Traders purchased 10,613 call options on the stock. This is an increase of 3,637% compared to the typical daily volume of 284 call options.

In other Mr. Cooper Group news, EVP Eldridge A. Burns sold 3,603 shares of the company’s stock in a transaction on Friday, March 4th. The shares were sold at an average price of $49.29, for a total transaction of $177,591.87. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jesse K. Bray sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 22nd. The stock was sold at an average price of $50.04, for a total transaction of $500,400.00. The disclosure for this sale can be found here. Insiders have sold 59,603 shares of company stock worth $2,816,992 over the last ninety days. Insiders own 2.59% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Exchange Traded Concepts LLC lifted its holdings in shares of Mr. Cooper Group by 1.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 15,355 shares of the company’s stock worth $639,000 after acquiring an additional 279 shares during the last quarter. Legend Financial Advisors Inc. raised its holdings in Mr. Cooper Group by 1.1% in the 3rd quarter. Legend Financial Advisors Inc. now owns 29,754 shares of the company’s stock valued at $1,225,000 after buying an additional 314 shares during the last quarter. Profund Advisors LLC raised its holdings in Mr. Cooper Group by 5.2% in the 3rd quarter. Profund Advisors LLC now owns 7,892 shares of the company’s stock valued at $325,000 after buying an additional 389 shares during the last quarter. Captrust Financial Advisors raised its holdings in Mr. Cooper Group by 7.2% in the 1st quarter. Captrust Financial Advisors now owns 5,987 shares of the company’s stock valued at $273,000 after buying an additional 401 shares during the last quarter. Finally, Federated Hermes Inc. raised its holdings in Mr. Cooper Group by 91.5% in the 1st quarter. Federated Hermes Inc. now owns 879 shares of the company’s stock valued at $40,000 after buying an additional 420 shares during the last quarter. 83.01% of the stock is owned by hedge funds and other institutional investors.

Several research firms have issued reports on COOP. Piper Sandler upped their price target on shares of Mr. Cooper Group from $60.00 to $71.00 and gave the stock an “overweight” rating in a research report on Monday, February 14th. BTIG Research began coverage on shares of Mr. Cooper Group in a research report on Wednesday, April 20th. They issued a “neutral” rating on the stock. TheStreet raised shares of Mr. Cooper Group from a “c+” rating to a “b” rating in a research report on Wednesday, May 4th. Wedbush increased their price objective on shares of Mr. Cooper Group from $50.00 to $60.00 in a research report on Monday, February 14th. Finally, Credit Suisse Group increased their price objective on shares of Mr. Cooper Group from $52.00 to $59.00 and gave the company an “outperform” rating in a research report on Monday, February 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $57.20.

COOP stock opened at $43.76 on Thursday. The stock has a market capitalization of $3.23 billion, a P/E ratio of 2.34 and a beta of 1.39. Mr. Cooper Group has a 12 month low of $31.79 and a 12 month high of $52.34. The firm has a 50-day moving average price of $44.89 and a 200-day moving average price of $43.92.

Mr. Cooper Group (NASDAQ:COOPGet Rating) last posted its earnings results on Thursday, April 28th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.12. The firm had revenue of $625.00 million during the quarter, compared to analysts’ expectations of $591.14 million. Mr. Cooper Group had a net margin of 48.79% and a return on equity of 16.11%. The business’s revenue for the quarter was down 50.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.87 earnings per share. Sell-side analysts forecast that Mr. Cooper Group will post 4.01 EPS for the current fiscal year.

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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