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

Mr. Cooper Group Inc. (NASDAQ:COOP - Get Free Report) was the recipient of some unusual options trading activity on Wednesday. Stock investors purchased 10,613 call options on the company. This is an increase of approximately 3,637% compared to the average daily volume of 284 call options.

Mr. Cooper Group Stock Down 0.5 %

COOP stock traded down $0.53 during mid-day trading on Tuesday, hitting $117.01. The company had a trading volume of 556,110 shares, compared to its average volume of 575,480. The company has a 50-day moving average price of $112.39 and a 200 day moving average price of $103.60. Mr. Cooper Group has a 12-month low of $78.20 and a 12-month high of $137.60. The company has a market capitalization of $7.49 billion, a price-to-earnings ratio of 11.49, a P/E/G ratio of 0.32 and a beta of 1.06.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $2.97 EPS for the quarter, beating analysts' consensus estimates of $2.81 by $0.16. The company had revenue of $560.00 million during the quarter, compared to analyst estimates of $620.57 million. Mr. Cooper Group had a return on equity of 14.76% and a net margin of 30.07%. The firm's revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company earned $2.73 earnings per share. As a group, analysts expect that Mr. Cooper Group will post 13.17 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on COOP. UBS Group boosted their price objective on Mr. Cooper Group from $135.00 to $145.00 and gave the company a "buy" rating in a research note on Wednesday, April 16th. JMP Securities reissued a "market outperform" rating and issued a $115.00 price objective on shares of Mr. Cooper Group in a research note on Thursday, February 13th. Keefe, Bruyette & Woods lifted their target price on shares of Mr. Cooper Group from $115.00 to $143.00 and gave the company a "market perform" rating in a research note on Tuesday, April 8th. Barclays increased their price target on Mr. Cooper Group from $130.00 to $147.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 8th. Finally, Piper Sandler downgraded Mr. Cooper Group from an "overweight" rating to a "neutral" rating and boosted their price objective for the company from $125.00 to $143.00 in a research report on Friday, April 4th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $131.14.

Insider Activity

In related news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $112.24, for a total transaction of $3,367,200.00. Following the transaction, the chief executive officer now directly owns 698,821 shares in the company, valued at approximately $78,435,669.04. The trade was a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.73% of the company's stock.

Institutional Investors Weigh In On Mr. Cooper Group

Several large investors have recently added to or reduced their stakes in COOP. Allworth Financial LP grew its position in shares of Mr. Cooper Group by 24.5% during the 1st quarter. Allworth Financial LP now owns 442 shares of the company's stock worth $51,000 after buying an additional 87 shares in the last quarter. Picton Mahoney Asset Management grew its holdings in Mr. Cooper Group by 41.3% during the 4th quarter. Picton Mahoney Asset Management now owns 325 shares of the company's stock worth $31,000 after acquiring an additional 95 shares in the last quarter. Sage Rhino Capital LLC grew its holdings in Mr. Cooper Group by 4.7% during the 1st quarter. Sage Rhino Capital LLC now owns 2,187 shares of the company's stock worth $262,000 after acquiring an additional 98 shares in the last quarter. Penbrook Management LLC increased its position in Mr. Cooper Group by 0.6% during the 1st quarter. Penbrook Management LLC now owns 15,825 shares of the company's stock valued at $1,893,000 after purchasing an additional 100 shares during the period. Finally, Williamson Legacy Group LLC lifted its position in shares of Mr. Cooper Group by 1.1% in the 4th quarter. Williamson Legacy Group LLC now owns 10,835 shares of the company's stock worth $1,040,000 after purchasing an additional 118 shares during the period. 89.82% of the stock is owned by 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.