Mr. Cooper Group Target of Unusually Large Options Trading (NASDAQ:COOP)

Key Points

• Mr. Cooper Group saw a dramatic increase in call options trading, with 10,613 options bought, marking a 3,637% rise in daily volume compared to average levels.
• Analysts have optimistic projections for the stock, with price targets ranging from $150.00 to $176.00 and a consensus rating of "Hold" amidst strong insider interest and institutional ownership.
• The company's recent earnings report showed earnings per share of $3.13, missing analyst expectations, although revenue grew 8.6% year-over-year.

Mr. Cooper Group Inc (NASDAQ:COOP - Get Free Report) saw some unusual options trading on Wednesday. Stock traders acquired 10,613 call options on the stock. Thisrepresentsanincreaseofapproximately3,637% compared to the typical daily volume of 284 call options.

Mr. Cooper Group Trading Up 5.2%

Mr. Cooper Group stock traded up $10.50 during mid-day trading on Friday, hitting $213.11. The company had a trading volume of 1,008,778 shares, compared to its average volume of 738,189. The company has a market capitalization of $13.64 billion, a price-to-earnings ratio of 24.38 and a beta of 0.98. Mr. Cooper Group has a 12-month low of $84.15 and a 12-month high of $216.79. The company's fifty day moving average is $172.07 and its 200-day moving average is $138.75.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $3.13 EPS for the quarter, missing analysts' consensus estimates of $3.28 by ($0.15). The firm had revenue of $608.00 million for the quarter, compared to analyst estimates of $669.23 million. Mr. Cooper Group had a return on equity of 15.66% and a net margin of 25.38%.Mr. Cooper Group's revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.10 EPS. As a group, sell-side analysts expect that Mr. Cooper Group will post 13.17 EPS for the current fiscal year.

Analysts Set New Price Targets

COOP has been the topic of a number of recent research reports. Jefferies Financial Group increased their price target on Mr. Cooper Group from $110.00 to $150.00 and gave the stock a "hold" rating in a research report on Tuesday, July 22nd. UBS Group set a $176.00 price target on Mr. Cooper Group in a report on Tuesday, August 5th. Barclays raised 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, Piper Sandler raised their price objective on Mr. Cooper Group from $143.00 to $158.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 1st. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $140.38.

Insiders Place Their Bets

In related news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $182.43, for a total transaction of $5,472,900.00. Following the sale, the chief executive officer owned 633,187 shares in the company, valued at approximately $115,512,304.41. This represents a 4.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 90,000 shares of company stock worth $15,278,700. Corporate insiders own 1.73% of the company's stock.

Institutional Trading of Mr. Cooper Group

A number of institutional investors and hedge funds have recently made changes to their positions in COOP. Northern Trust Corp increased its position in shares of Mr. Cooper Group by 6.8% in the fourth quarter. Northern Trust Corp now owns 835,369 shares of the company's stock valued at $80,204,000 after buying an additional 53,534 shares in the last quarter. Lido Advisors LLC increased its position in shares of Mr. Cooper Group by 28.0% during the fourth quarter. Lido Advisors LLC now owns 3,247 shares of the company's stock worth $312,000 after purchasing an additional 711 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its position in shares of Mr. Cooper Group by 13.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 9,462 shares of the company's stock worth $908,000 after purchasing an additional 1,140 shares in the last quarter. Cercano Management LLC increased its position in shares of Mr. Cooper Group by 66.5% during the fourth quarter. Cercano Management LLC now owns 790,753 shares of the company's stock worth $75,920,000 after purchasing an additional 315,801 shares in the last quarter. Finally, Centiva Capital LP purchased a new stake in shares of Mr. Cooper Group during the fourth quarter worth approximately $335,000. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

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.