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

Key Points

• Mr. Cooper Group saw a significant surge in options trading, with investors purchasing 10,613 call options, marking an increase of approximately 3,637% compared to the average daily volume.
• CEO Jesse K. Bray sold 30,000 shares of the company on August 1 for about $5.24 million, reducing his ownership stake by 4.33% while still holding shares valued at over $115 million.
• Institutional investors own 89.82% of Mr. Cooper Group's stock, with several firms increasing their positions or acquiring new stakes in the company during the recent quarter.

Mr. Cooper Group Inc (NASDAQ:COOP - Get Free Report) was the target of unusually large options trading activity on Wednesday. Investors purchased 10,613 call options on the stock. Thisisanincreaseofapproximately3,637% compared to the average daily volume of 284 call options.

Insider Activity

In related news, CEO Jesse K. Bray sold 30,000 shares of the business's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $174.72, for a total transaction of $5,241,600.00. Following the completion of the transaction, the chief executive officer owned 663,187 shares in the company, valued at $115,872,032.64. The trade was a 4.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.73% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Envestnet Asset Management Inc. increased its position in shares of Mr. Cooper Group by 9.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 24,793 shares of the company's stock worth $2,380,000 after purchasing an additional 2,199 shares in the last quarter. Cerity Partners LLC purchased a new stake in shares of Mr. Cooper Group during the fourth quarter worth about $430,000. Raymond James Financial Inc. acquired a new position in shares of Mr. Cooper Group during the fourth quarter valued at about $4,081,000. Jump Financial LLC raised its position in shares of Mr. Cooper Group by 29.0% in the 4th quarter. Jump Financial LLC now owns 4,000 shares of the company's stock valued at $384,000 after purchasing an additional 900 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of Mr. Cooper Group by 10.6% in the 4th quarter. First Trust Advisors LP now owns 119,924 shares of the company's stock valued at $11,514,000 after purchasing an additional 11,502 shares during the last quarter. Institutional investors own 89.82% of the company's stock.

Mr. Cooper Group Trading Down 2.9%

Shares of NASDAQ:COOP opened at $185.58 on Thursday. The company has a market capitalization of $11.88 billion, a PE ratio of 21.23 and a beta of 0.98. Mr. Cooper Group has a 12-month low of $84.15 and a 12-month high of $203.42. The business's fifty day simple moving average is $161.25 and its 200-day simple moving average is $131.60.

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

Analyst Ratings Changes

Several research analysts have commented on COOP shares. 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 report on Tuesday, July 1st. Jefferies Financial Group raised their price target on Mr. Cooper Group from $110.00 to $150.00 and gave the company a "hold" rating in a research note on Tuesday, July 22nd. UBS Group set a $176.00 price objective on Mr. Cooper Group in a report on Tuesday, August 5th. Finally, Barclays increased their target price on shares of Mr. Cooper Group from $147.00 to $156.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $140.38.

About Mr. Cooper Group

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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