Stock Traders Buy Large Volume of Call Options on Mr. Cooper Group (NASDAQ:COOP)

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

Insider Buying and Selling

In related news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction on Thursday, January 2nd. The shares were 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 of the company's stock, valued at $71,700,996.29. This represents a 3.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.33% of the stock is owned by insiders.

Institutional Trading of Mr. Cooper Group

Several hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new stake in Mr. Cooper Group during the fourth quarter valued at about $72,984,000. 140 Summer Partners LP purchased a new position in Mr. Cooper Group in the 4th quarter valued at approximately $69,959,000. Veridan Wealth LLC bought a new stake in Mr. Cooper Group during the 4th quarter valued at $56,244,000. Wellington Management Group LLP lifted its position in shares of Mr. Cooper Group by 43.1% during the fourth quarter. Wellington Management Group LLP now owns 1,138,904 shares of the company's stock worth $109,346,000 after acquiring an additional 343,243 shares in the last quarter. Finally, Cercano Management LLC boosted its holdings in shares of Mr. Cooper Group by 66.5% in the fourth quarter. Cercano Management LLC now owns 790,753 shares of the company's stock worth $75,920,000 after acquiring an additional 315,801 shares during the period. 89.82% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on COOP. Keefe, Bruyette & Woods boosted their target price on Mr. Cooper Group from $105.00 to $115.00 and gave the company a "market perform" rating in a research report on Thursday, February 13th. Piper Sandler upped their target price on Mr. Cooper Group from $113.00 to $120.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 22nd. Citizens Jmp raised shares of Mr. Cooper Group to a "strong-buy" rating in a research report on Tuesday, January 14th. Barclays upped their price objective on shares of Mr. Cooper Group from $111.00 to $130.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Finally, UBS Group lifted their price objective on shares of Mr. Cooper Group from $122.00 to $135.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Mr. Cooper Group presently has a consensus rating of "Moderate Buy" and an average target price of $112.22.

Mr. Cooper Group Stock Up 1.2 %

COOP traded up $1.36 during trading on Friday, hitting $110.51. 772,403 shares of the company traded hands, compared to its average volume of 485,071. Mr. Cooper Group has a one year low of $70.01 and a one year high of $110.97. The stock's fifty day moving average is $100.78 and its 200 day moving average is $95.83. The firm has a market cap of $7.07 billion, a P/E ratio of 10.86, a price-to-earnings-growth ratio of 0.32 and a beta of 1.43.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $2.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.65 by $0.08. Mr. Cooper Group had a net margin of 30.07% and a return on equity of 14.76%. On average, equities research analysts forecast that Mr. Cooper Group will post 13.17 EPS for the current fiscal year.

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.