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

Mr. Cooper Group Inc. (NASDAQ:COOP - Get Free Report) was the target of unusually large options trading on Wednesday. Traders purchased 10,613 call options on the company. This is an increase of 3,637% compared to the typical volume of 284 call options.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on COOP shares. Compass Point lifted their target price on Mr. Cooper Group from $97.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Wedbush reiterated an "outperform" rating and set a $115.00 price objective on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Finally, Barclays boosted their target price on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Mr. Cooper Group presently has an average rating of "Moderate Buy" and an average target price of $100.57.

Insiders Place Their Bets

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $88.41, for a total value of $2,652,300.00. Following the sale, the chief executive officer now owns 818,821 shares of the company's stock, valued at $72,391,964.61. This trade represents a 3.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.33% of the company's stock.

Hedge Funds Weigh In On Mr. Cooper Group

A number of large investors have recently made changes to their positions in the company. Blue Trust Inc. increased its position in Mr. Cooper Group by 77.1% during the 2nd quarter. Blue Trust Inc. now owns 333 shares of the company's stock worth $26,000 after buying an additional 145 shares during the period. Allspring Global Investments Holdings LLC increased its position in Mr. Cooper Group by 8,275.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company's stock worth $27,000 after acquiring an additional 331 shares during the period. Quarry LP bought a new position in Mr. Cooper Group during the second quarter worth about $29,000. Financial Management Professionals Inc. acquired a new stake in Mr. Cooper Group in the 3rd quarter worth about $30,000. Finally, Harvest Fund Management Co. Ltd grew its position in shares of Mr. Cooper Group by 152.5% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company's stock worth $41,000 after purchasing an additional 270 shares in the last quarter. Institutional investors own 89.82% of the company's stock.

Mr. Cooper Group Price Performance

Mr. Cooper Group stock traded down $0.60 during mid-day trading on Thursday, hitting $95.36. 214,675 shares of the company's stock traded hands, compared to its average volume of 446,046. Mr. Cooper Group has a fifty-two week low of $61.38 and a fifty-two week high of $103.05. The stock has a market cap of $6.10 billion, a price-to-earnings ratio of 12.32 and a beta of 1.41. The firm has a 50 day simple moving average of $95.12 and a two-hundred day simple moving average of $89.76.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $2.84 EPS for the quarter, beating analysts' consensus estimates of $2.54 by $0.30. The business had revenue of $616.00 million for the quarter, compared to analyst estimates of $548.09 million. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%. Mr. Cooper Group's quarterly revenue was up 32.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.79 EPS. On average, research analysts anticipate that Mr. Cooper Group will post 10.16 earnings per share 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.