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

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

Insiders Place Their Bets

In other news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $94.49, for a total transaction of $2,834,700.00. Following the transaction, the chief executive officer now directly owns 758,821 shares in the company, valued at approximately $71,700,996.29. This trade represents a 3.80 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.33% of the stock is owned by insiders.

Institutional Trading of Mr. Cooper Group

Several hedge funds and other institutional investors have recently modified their holdings of COOP. Williamson Legacy Group LLC lifted its stake in 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 acquiring an additional 118 shares in the last quarter. Dakota Wealth Management increased its holdings in shares of Mr. Cooper Group by 0.7% in the 4th quarter. Dakota Wealth Management now owns 27,695 shares of the company's stock valued at $2,659,000 after purchasing an additional 181 shares during the period. Truist Financial Corp lifted its position in shares of Mr. Cooper Group by 1.6% in the second quarter. Truist Financial Corp now owns 11,840 shares of the company's stock worth $962,000 after purchasing an additional 187 shares in the last quarter. First Trust Direct Indexing L.P. boosted its holdings in shares of Mr. Cooper Group by 7.6% during the third quarter. First Trust Direct Indexing L.P. now owns 3,021 shares of the company's stock worth $278,000 after purchasing an additional 213 shares during the period. Finally, Blue Trust Inc. grew its position in Mr. Cooper Group by 38.8% during the fourth quarter. Blue Trust Inc. now owns 794 shares of the company's stock valued at $76,000 after purchasing an additional 222 shares in the last quarter. Institutional investors and hedge funds own 89.82% of the company's stock.

Mr. Cooper Group Price Performance

Mr. Cooper Group stock traded up $0.79 during midday trading on Friday, reaching $106.35. The stock had a trading volume of 493,589 shares, compared to its average volume of 459,895. Mr. Cooper Group has a twelve month low of $65.80 and a twelve month high of $107.85. The firm has a market cap of $6.80 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 0.31 and a beta of 1.43. The firm's fifty day simple moving average is $98.41 and its two-hundred day simple moving average is $94.51.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Wedbush reaffirmed an "outperform" rating and set a $115.00 target price on shares of Mr. Cooper Group in a report on Thursday, October 24th. Compass Point lifted their price objective on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Piper Sandler increased their target price on shares of Mr. Cooper Group from $113.00 to $120.00 and gave the company an "overweight" rating in a research note on Wednesday, January 22nd. Citizens Jmp upgraded shares of Mr. Cooper Group to a "strong-buy" rating in a research report on Tuesday, January 14th. Finally, JMP Securities began coverage on Mr. Cooper Group in a research report on Tuesday, January 14th. They set an "outperform" rating and a $115.00 price objective for the company. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $104.13.

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.