Stock Traders Buy High Volume of Mr. Cooper Group Call Options (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 approximately 3,637% compared to the typical daily volume of 284 call options.

Insider Activity at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $112.24, for a total value of $3,367,200.00. Following the transaction, the chief executive officer now directly owns 698,821 shares of the company's stock, valued at approximately $78,435,669.04. This trade represents a 4.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mr. Cooper Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Mr. Cooper Group in the first quarter worth approximately $320,000. USA Financial Formulas purchased a new position in shares of Mr. Cooper Group during the 1st quarter valued at about $55,000. Assenagon Asset Management S.A. grew its stake in shares of Mr. Cooper Group by 13.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,057,176 shares of the company's stock valued at $126,438,000 after acquiring an additional 129,414 shares during the period. Trueblood Wealth Management LLC purchased a new position in Mr. Cooper Group during the first quarter valued at approximately $218,000. Finally, SG Americas Securities LLC raised its position in shares of Mr. Cooper Group by 711.6% during the 1st quarter. SG Americas Securities LLC now owns 10,551 shares of the company's stock valued at $1,262,000 after purchasing an additional 9,251 shares during the period. Hedge funds and other institutional investors own 89.82% of the company's stock.

Mr. Cooper Group Price Performance

COOP stock traded up $1.44 during midday trading on Tuesday, hitting $108.70. The stock had a trading volume of 78,240 shares, compared to its average volume of 566,238. The firm has a market cap of $6.95 billion, a price-to-earnings ratio of 10.67, a price-to-earnings-growth ratio of 0.32 and a beta of 1.17. The business has a 50-day moving average of $110.77 and a two-hundred day moving average of $101.97. Mr. Cooper Group has a 52-week low of $76.85 and a 52-week high of $137.60.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $2.73 earnings per share (EPS) for the quarter, beating 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%. Research analysts predict that Mr. Cooper Group will post 13.17 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on COOP. JMP Securities reissued a "market outperform" rating and set a $115.00 price target on shares of Mr. Cooper Group in a research report on Thursday, February 13th. Citizens Jmp downgraded shares of Mr. Cooper Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 1st. Barclays lifted their price target on shares of Mr. Cooper Group from $130.00 to $147.00 and gave the stock an "overweight" rating in a report on Tuesday, April 8th. Piper Sandler cut Mr. Cooper Group from an "overweight" rating to a "neutral" rating and upped their price target for the company from $125.00 to $143.00 in a research report on Friday, April 4th. Finally, UBS Group increased their target price on Mr. Cooper Group from $135.00 to $145.00 and gave the stock a "buy" rating in a research report on Wednesday, April 16th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $126.00.

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.