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

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

Mr. Cooper Group Trading Up 0.2 %

NASDAQ:COOP opened at $75.71 on Thursday. Mr. Cooper Group has a 1-year low of $41.74 and a 1-year high of $78.54. The business’s 50-day moving average price is $74.22 and its two-hundred day moving average price is $65.54. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of 10.31 and a beta of 1.38.

Mr. Cooper Group (NASDAQ:COOP) last released its earnings results on Friday, February 9th. The company reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.34. Mr. Cooper Group had a return on equity of 12.01% and a net margin of 27.87%. The firm had revenue of $404.00 million for the quarter, compared to analyst estimates of $398.31 million. Sell-side analysts predict that Mr. Cooper Group will post 9.01 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Jesse K. Bray sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $78.09, for a total transaction of $1,952,250.00. Following the completion of the transaction, the chief executive officer now directly owns 334,631 shares in the company, valued at $26,131,334.79. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, President Michael S. Weinbach acquired 17,000 shares of the stock in a transaction dated Tuesday, February 13th. The shares were acquired at an average cost of $71.16 per share, for a total transaction of $1,209,720.00. Following the completion of the transaction, the president now owns 17,000 shares in the company, valued at approximately $1,209,720. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jesse K. Bray sold 25,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 334,631 shares in the company, 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 worth $5,431,500. 3.11% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Mr. Cooper Group

Large investors have recently modified their holdings of the business. USA Financial Formulas bought a new stake in shares of Mr. Cooper Group in the fourth quarter worth about $25,000. Federated Hermes Inc. grew its holdings in shares of Mr. Cooper Group by 55.1% during the third quarter. Federated Hermes Inc. now owns 752 shares of the company’s stock worth $30,000 after buying an additional 267 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in shares of Mr. Cooper Group by 95.0% during the first quarter. Nomura Asset Management Co. Ltd. now owns 780 shares of the company’s stock worth $32,000 after buying an additional 380 shares in the last quarter. Point72 Middle East FZE bought a new position in shares of Mr. Cooper Group during the fourth quarter worth about $38,000. Finally, Public Employees Retirement System of Ohio grew its stake in Mr. Cooper Group by 54.8% in the third quarter. Public Employees Retirement System of Ohio now owns 986 shares of the company’s stock valued at $40,000 after purchasing an additional 349 shares in the last quarter. 89.82% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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