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

Mr. Cooper Group Inc. (NASDAQ:COOP) saw unusually large options trading on Wednesday. Stock traders bought 10,613 call options on the company. This is an increase of approximately 3,637% compared to the typical daily volume of 284 call options.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wedbush reaffirmed an “outperform” rating and set a $115.00 price objective on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Barclays increased their price target 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, Compass Point raised their price target on Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $100.57.

Insiders Place Their Bets

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $97.58, for a total transaction of $2,927,400.00. Following the sale, the chief executive officer now directly owns 788,821 shares of the company’s stock, valued at approximately $76,973,153.18. This represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mr. Cooper Group

Several institutional investors have recently bought and sold shares of the stock. LSV Asset Management raised its position in shares of Mr. Cooper Group by 249.2% during the 2nd quarter. LSV Asset Management now owns 633,260 shares of the company’s stock worth $51,440,000 after buying an additional 451,926 shares in the last quarter. Hantz Financial Services Inc. bought a new stake in Mr. Cooper Group during the second quarter worth approximately $21,609,000. FMR LLC raised its holdings in Mr. Cooper Group by 42.9% during the third quarter. FMR LLC now owns 485,907 shares of the company’s stock worth $44,791,000 after purchasing an additional 145,767 shares in the last quarter. Basswood Capital Management L.L.C. lifted its position in Mr. Cooper Group by 36.6% in the third quarter. Basswood Capital Management L.L.C. now owns 496,243 shares of the company’s stock worth $45,744,000 after purchasing an additional 132,970 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in Mr. Cooper Group by 11.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,247,434 shares of the company’s stock valued at $114,988,000 after purchasing an additional 125,055 shares in the last quarter. Institutional investors and hedge funds own 89.82% of the company’s stock.

Mr. Cooper Group Trading Down 0.6 %

Shares of NASDAQ COOP opened at $95.36 on Friday. Mr. Cooper Group has a 12-month low of $61.38 and a 12-month high of $103.05. The company has a market cap of $6.10 billion, a PE ratio of 12.32 and a beta of 1.41. The stock has a 50 day simple moving average of $95.20 and a 200-day simple moving average of $89.80.

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

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.