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

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

Insider Transactions at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $152.14, for a total value of $4,564,200.00. Following the transaction, the chief executive officer directly owned 693,187 shares in the company, valued at approximately $105,461,470.18. This represents a 4.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.73% of the company's stock.

Institutional Investors Weigh In On Mr. Cooper Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. First Horizon Advisors Inc. bought a new stake in Mr. Cooper Group in the first quarter worth about $26,000. Picton Mahoney Asset Management increased its stake in Mr. Cooper Group by 41.3% in the 4th quarter. Picton Mahoney Asset Management now owns 325 shares of the company's stock worth $31,000 after purchasing an additional 95 shares in the last quarter. Allworth Financial LP increased its stake in Mr. Cooper Group by 24.5% in the 1st quarter. Allworth Financial LP now owns 442 shares of the company's stock worth $51,000 after purchasing an additional 87 shares in the last quarter. USA Financial Formulas purchased a new position in Mr. Cooper Group in the 1st quarter worth about $55,000. Finally, SVB Wealth LLC purchased a new position in Mr. Cooper Group in the 1st quarter worth about $62,000. 89.82% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on COOP. Citizens Jmp cut shares of Mr. Cooper Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 1st. Piper Sandler raised their price target on shares of Mr. Cooper Group from $143.00 to $158.00 and gave the company a "neutral" rating in a report on Tuesday, July 1st. Barclays raised their price target on shares of Mr. Cooper Group from $147.00 to $156.00 and gave the company an "overweight" rating in a report on Tuesday. Keefe, Bruyette & Woods raised their price target on shares of Mr. Cooper Group from $115.00 to $143.00 and gave the company a "market perform" rating in a report on Tuesday, April 8th. Finally, UBS Group raised their price target on shares of Mr. Cooper Group from $135.00 to $145.00 and gave the company a "buy" rating in a report on Wednesday, April 16th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $134.57.

Mr. Cooper Group Stock Performance

Shares of COOP traded down $1.79 during midday trading on Friday, hitting $146.58. 210,402 shares of the stock traded hands, compared to its average volume of 723,416. Mr. Cooper Group has a 1-year low of $80.35 and a 1-year high of $158.00. The firm has a market capitalization of $9.38 billion, a PE ratio of 16.66, a price-to-earnings-growth ratio of 0.43 and a beta of 1.05. The business's 50 day moving average price is $136.48 and its two-hundred day moving average price is $117.22.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $2.97 earnings per share for the quarter, beating analysts' consensus estimates of $2.81 by $0.16. Mr. Cooper Group had a net margin of 25.93% and a return on equity of 15.27%. The business had revenue of $560.00 million for the quarter, compared to analysts' expectations of $620.57 million. During the same period in the previous year, the business earned $2.73 earnings per share. The company's revenue was down .7% on a year-over-year basis. As a group, equities research analysts forecast that Mr. Cooper Group will post 13.17 EPS for the current fiscal year.

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.