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

Mr. Cooper Group Inc. (NASDAQ:COOP) was the target of some unusual options trading on Wednesday. Stock traders purchased 10,613 call options on the company. This is an increase of 3,637% compared to the typical volume of 284 call options.

Insider Activity at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $94.49, for a total transaction of $2,834,700.00. Following the sale, the chief executive officer now directly owns 758,821 shares of the company’s stock, valued at $71,700,996.29. This represents a 3.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 90,000 shares of company stock valued at $8,414,400 over the last ninety days. 2.33% of the stock is owned by insiders.

Institutional Investors Weigh In On Mr. Cooper Group

Several hedge funds have recently bought and sold shares of COOP. Range Financial Group LLC acquired a new position in shares of Mr. Cooper Group in the 4th quarter valued at $1,091,000. Oliver Luxxe Assets LLC lifted its holdings in Mr. Cooper Group by 5.8% during the fourth quarter. Oliver Luxxe Assets LLC now owns 41,535 shares of the company’s stock worth $3,988,000 after acquiring an additional 2,259 shares in the last quarter. Tidal Investments LLC acquired a new position in Mr. Cooper Group in the third quarter valued at about $2,459,000. World Investment Advisors LLC bought a new stake in shares of Mr. Cooper Group in the third quarter worth about $2,537,000. Finally, Sanctuary Advisors LLC raised its position in shares of Mr. Cooper Group by 137.1% during the third quarter. Sanctuary Advisors LLC now owns 18,843 shares of the company’s stock worth $1,873,000 after purchasing an additional 10,895 shares during the period. 89.82% of the stock is currently owned by institutional investors and hedge funds.

Mr. Cooper Group Trading Up 0.8 %

NASDAQ COOP opened at $93.54 on Thursday. Mr. Cooper Group has a 12 month low of $61.38 and a 12 month high of $103.05. The stock has a 50-day simple moving average of $96.13 and a 200 day simple moving average of $91.57. The company has a market capitalization of $5.99 billion, a PE ratio of 12.09 and a beta of 1.43.

Mr. Cooper Group (NASDAQ:COOP) last posted its earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.30. Mr. Cooper Group had a return on equity of 13.77% and a net margin of 25.87%. The company had revenue of $616.00 million during the quarter, compared to analyst estimates of $548.09 million. During the same period in the previous year, the company earned $2.79 EPS. The company’s revenue for the quarter was up 32.8% compared to the same quarter last year. As a group, sell-side analysts predict that Mr. Cooper Group will post 10.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Compass Point increased their price objective on Mr. Cooper Group from $97.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Barclays lifted their price objective on Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Finally, Wedbush reissued an “outperform” rating and set a $115.00 price objective on shares of Mr. Cooper Group in a report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Mr. Cooper Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $100.57.

Mr. Cooper Group Company Profile

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.