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

Key Points

• Mr. Cooper Group Inc saw a remarkable increase in call options trading, with 10,613 options traded, a surge of approximately 3,637% compared to the average volume of 284.
• Analysts have raised their price targets for Mr. Cooper Group, with Jefferies Financial Group setting a new target of $150.00 and Barclays increasing it to $156.00, reflecting a general positive outlook.
• CEO Jesse K. Bray sold 30,000 shares of the company at an average price of $182.43, marking a 4.52% decrease in his ownership, while insiders sold a total of 90,000 shares worth approximately $15.3 million over the last quarter.

Mr. Cooper Group Inc (NASDAQ:COOP - Get Free Report) saw unusually large options trading activity on Wednesday. Stock investors bought 10,613 call options on the company. This is an increase of 3,637% compared to the average volume of 284 call options.

Insider Buying and Selling

In other news, CEO Jesse K. Bray sold 30,000 shares of the business'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 sale, the chief executive officer directly owned 633,187 shares of the company's stock, valued at approximately $115,512,304.41. The trade was a 4.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 90,000 shares of company stock worth $15,278,700 over the last quarter. 1.73% of the stock is owned by insiders.

Hedge Funds Weigh In On Mr. Cooper Group

A number of hedge funds have recently made changes to their positions in the stock. Bessemer Group Inc. raised its position in shares of Mr. Cooper Group by 3.6% during the second quarter. Bessemer Group Inc. now owns 1,831 shares of the company's stock worth $273,000 after acquiring an additional 63 shares during the last quarter. Archer Investment Corp raised its position in shares of Mr. Cooper Group by 4.9% during the second quarter. Archer Investment Corp now owns 1,495 shares of the company's stock worth $223,000 after acquiring an additional 70 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Mr. Cooper Group by 5.2% during the second quarter. EverSource Wealth Advisors LLC now owns 1,668 shares of the company's stock worth $249,000 after acquiring an additional 82 shares during the last quarter. Allworth Financial LP raised its position in shares of Mr. Cooper Group by 24.5% during the first quarter. Allworth Financial LP now owns 442 shares of the company's stock worth $51,000 after acquiring an additional 87 shares during the last quarter. Finally, AlphaQuest LLC increased its holdings in Mr. Cooper Group by 88.0% in the second quarter. AlphaQuest LLC now owns 188 shares of the company's stock worth $28,000 after purchasing an additional 88 shares in the last quarter. 89.82% of the stock is currently owned by institutional investors.

Mr. Cooper Group Stock Performance

COOP traded down $5.47 during trading hours on Friday, reaching $214.45. The company's stock had a trading volume of 1,378,990 shares, compared to its average volume of 743,068. The firm has a market cap of $13.72 billion, a PE ratio of 24.54 and a beta of 0.98. The company's 50-day moving average is $185.82 and its 200-day moving average is $146.42. Mr. Cooper Group has a 52 week low of $84.68 and a 52 week high of $234.73.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last released its quarterly earnings data 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 business had revenue of $608.00 million during the quarter, compared to analyst estimates of $669.23 million. During the same period last year, the business earned $3.10 earnings per share. The business's quarterly revenue was up 8.6% compared to the same quarter last year. Equities analysts anticipate that Mr. Cooper Group will post 13.17 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on COOP. Jefferies Financial Group increased 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 target price on shares of Mr. Cooper Group from $147.00 to $156.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Piper Sandler lifted their price target on shares of Mr. Cooper Group from $143.00 to $158.00 and gave the stock a "neutral" rating in a report on Tuesday, July 1st. Finally, UBS Group set a $176.00 price target on shares of Mr. Cooper Group in a report on Tuesday, August 5th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price 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.