Traders Purchase Large Volume of Mr. Cooper Group Call Options (NASDAQ:COOP)

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

Mr. Cooper Group Stock Performance

COOP traded up $0.22 during trading hours on Thursday, reaching $91.87. The company's stock had a trading volume of 189,156 shares, compared to its average volume of 438,560. The company's 50-day moving average is $87.37 and its 200-day moving average is $81.44. Mr. Cooper Group has a 52 week low of $52.46 and a 52 week high of $95.74. The firm has a market cap of $5.95 billion, a PE ratio of 9.60 and a beta of 1.41.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last issued its quarterly earnings data on Thursday, July 25th. The company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.19. The company had revenue of $583.00 million for the quarter, compared to analyst estimates of $552.09 million. Mr. Cooper Group had a net margin of 33.22% and a return on equity of 14.10%. The company's revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.66 earnings per share. Equities analysts anticipate that Mr. Cooper Group will post 9.86 earnings per share for the current fiscal year.

Analysts Set New Price Targets

COOP has been the topic of several recent research reports. Piper Sandler lifted their price target on shares of Mr. Cooper Group from $91.00 to $106.00 and gave the company an "overweight" rating in a research note on Friday, July 26th. Barclays lifted their target price on Mr. Cooper Group from $94.00 to $103.00 and gave the company an "overweight" rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods cut Mr. Cooper Group from an "outperform" rating to a "market perform" rating and set a $95.00 price target for the company. in a research report on Monday, July 22nd. Finally, Wedbush raised their price target on Mr. Cooper Group from $100.00 to $115.00 and gave the company an "outperform" rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Mr. Cooper Group currently has an average rating of "Moderate Buy" and an average price target of $91.88.

Insider Activity

In related news, CEO Jesse K. Bray sold 25,000 shares of the business's stock in a transaction on Friday, June 28th. The shares were sold at an average price of $80.93, for a total value of $2,023,250.00. Following the sale, the chief executive officer now directly owns 259,631 shares of the company's stock, valued at approximately $21,011,936.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.33% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in COOP. USA Financial Formulas acquired a new position in Mr. Cooper Group in the 4th quarter valued at $25,000. Blue Trust Inc. increased its position in shares of Mr. Cooper Group by 77.1% in the second quarter. Blue Trust Inc. now owns 333 shares of the company's stock worth $26,000 after purchasing an additional 145 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Mr. Cooper Group by 8,275.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company's stock valued at $27,000 after purchasing an additional 331 shares in the last quarter. Quarry LP bought a new stake in Mr. Cooper Group during the second quarter worth about $29,000. Finally, CWM LLC grew its stake in Mr. Cooper Group by 34.5% during the second quarter. CWM LLC now owns 601 shares of the company's stock worth $49,000 after buying an additional 154 shares in the last quarter. 89.82% of the stock is owned by institutional investors and hedge funds.

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.