Mr. Cooper Group Sees Unusually Large Options Volume (NASDAQ:COOP)

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

Insider Buying and Selling at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $182.43, for a total value of $5,472,900.00. Following the completion of the sale, the chief executive officer owned 633,187 shares of the company’s stock, valued at approximately $115,512,304.41. This represents a 4.52% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.73% of the company’s stock.

Hedge Funds Weigh In On Mr. Cooper Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. raised its position in shares of Mr. Cooper Group by 11.8% in the 1st quarter. Invesco Ltd. now owns 2,013,536 shares of the company’s stock valued at $240,819,000 after purchasing an additional 213,167 shares during the last quarter. Norges Bank purchased a new position in shares of Mr. Cooper Group in the second quarter worth $258,538,000. Third Point LLC purchased a new position in shares of Mr. Cooper Group in the second quarter worth $138,019,000. Qube Research & Technologies Ltd raised its holdings in shares of Mr. Cooper Group by 154.5% in the second quarter. Qube Research & Technologies Ltd now owns 803,131 shares of the company’s stock worth $119,835,000 after buying an additional 487,503 shares during the last quarter. Finally, Basswood Capital Management L.L.C. raised its stake in Mr. Cooper Group by 15.2% in the 2nd quarter. Basswood Capital Management L.L.C. now owns 539,047 shares of the company’s stock worth $80,431,000 after acquiring an additional 70,934 shares during the last quarter. 89.82% of the stock is owned by hedge funds and other institutional investors.

Mr. Cooper Group Stock Performance

Mr. Cooper Group stock opened at $210.79 on Friday. The stock has a 50-day moving average of $208.70 and a two-hundred day moving average of $166.61. Mr. Cooper Group has a one year low of $84.68 and a one year high of $234.73. The stock has a market cap of $13.49 billion, a PE ratio of 24.12 and a beta of 1.08.

Mr. Cooper Group Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Tuesday, October 7th. Investors of record on Monday, September 29th were given a $0.01 dividend. The ex-dividend date of this dividend was Monday, September 29th. Mr. Cooper Group’s dividend payout ratio (DPR) is presently 22.88%.

Analysts Set New Price Targets

COOP has been the subject of a number of analyst reports. UBS Group set a $176.00 target price on Mr. Cooper Group in a report on Tuesday, August 5th. Jefferies Financial Group upped their price objective on Mr. Cooper Group from $110.00 to $150.00 and gave the stock a “hold” rating in a research note on Tuesday, July 22nd. Barclays upped their price objective on Mr. Cooper Group from $147.00 to $156.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Mr. Cooper Group in a research note on Saturday, September 27th. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $149.67.

About Mr. Cooper Group

Mr. Cooper Group Inc, together with its subsidiaries, operates as a non-bank servicer of residential mortgage loans in the United States. The company operates through Servicing and Originations segments. The Servicing segment performs activities on behalf of investors or owners of the underlying mortgages and mortgage servicing rights, including collecting and disbursing borrower payments, investor reporting, customer service, modifying loans, performing collections, foreclosures, and the sale of real estate owned.