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

Key Points

• Mr. Cooper Group experienced an unusually high volume of options trading, with 4,067 put options purchased, marking a 220% increase compared to average volumes.
• CEO Jesse K. Bray sold 30,000 shares of the company's stock for approximately $5.47 million, resulting in a decrease of 4.52% in his ownership.
• The company recently declared a special dividend of $0.01 per share, to be paid on October 7th, with the ex-dividend date set for September 29th.

Mr. Cooper Group Inc (NASDAQ:COOP - Get Free Report) was the target of unusually large options trading activity on Friday. Stock traders bought 4,067 put options on the company. This is an increase of approximately 220% compared to the typical volume of 1,269 put options.

Insider Activity at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $182.43, for a total transaction of $5,472,900.00. Following the transaction, the chief executive officer directly owned 633,187 shares of the company's stock, valued at approximately $115,512,304.41. This trade represents a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 90,000 shares of company stock worth $15,278,700 over the last quarter. Company insiders own 1.73% of the company's stock.

Institutional Trading of Mr. Cooper Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC bought a new position in Mr. Cooper Group in the 2nd quarter valued at $25,000. First Horizon Advisors Inc. bought a new position in Mr. Cooper Group in the 1st quarter valued at $26,000. AlphaQuest LLC grew its position in Mr. Cooper Group by 88.0% in the 2nd quarter. AlphaQuest LLC now owns 188 shares of the company's stock valued at $28,000 after acquiring an additional 88 shares during the last quarter. MAI Capital Management bought a new position in Mr. Cooper Group in the 2nd quarter valued at $33,000. Finally, Twin Peaks Wealth Advisors LLC bought a new position in Mr. Cooper Group in the 2nd quarter valued at $45,000. Hedge funds and other institutional investors own 89.82% of the company's stock.

Mr. Cooper Group Stock Performance

Shares of COOP traded up $0.74 during mid-day trading on Friday, hitting $208.26. 169,512 shares of the stock were exchanged, compared to its average volume of 970,328. The company has a market cap of $13.33 billion, a PE ratio of 24.18 and a beta of 0.98. Mr. Cooper Group has a 52-week low of $84.68 and a 52-week high of $234.73. The firm has a 50-day moving average of $191.01 and a two-hundred day moving average of $149.10.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported $3.13 earnings per share for the quarter, missing the consensus estimate of $3.28 by ($0.15). Mr. Cooper Group had a net margin of 25.38% and a return on equity of 15.66%. The company had revenue of $608.00 million for the quarter, compared to analysts' expectations of $669.23 million. During the same quarter in the previous year, the company posted $3.10 EPS. The business's quarterly revenue was up 8.6% on a year-over-year basis. On average, sell-side analysts predict that Mr. Cooper Group will post 13.17 EPS for the current year.

Mr. Cooper Group Announces Dividend

The business also recently declared a special dividend, which will be paid on Tuesday, October 7th. Investors of record on Monday, September 29th will be issued a dividend of $0.01 per share. The ex-dividend date is Monday, September 29th.

Analysts Set New Price Targets

COOP has been the topic of several research reports. Jefferies Financial Group lifted their price target on shares of 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 raised their price objective on Mr. Cooper Group from $147.00 to $156.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Piper Sandler raised their price objective on Mr. Cooper Group from $143.00 to $158.00 and gave the company a "neutral" rating in a research report on Tuesday, July 1st. Finally, UBS Group set a $176.00 price target on Mr. Cooper Group in a research note on Tuesday, August 5th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $140.38.

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.

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