Mr. Cooper Group Target of Unusually Large Options Trading (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 stock. This represents an increase of 3,637% compared to the average daily volume of 284 call options.

Mr. Cooper Group Stock Performance

Shares of COOP traded up $0.23 during midday trading on Thursday, hitting $102.87. 357,553 shares of the stock were exchanged, compared to its average volume of 469,562. Mr. Cooper Group has a 52-week low of $64.35 and a 52-week high of $105.00. The stock has a fifty day simple moving average of $96.77 and a 200 day simple moving average of $92.82. The firm has a market cap of $6.58 billion, a P/E ratio of 13.29, a P/E/G ratio of 0.30 and a beta of 1.43.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.54 by $0.30. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%. The business had revenue of $616.00 million during the quarter, compared to analyst estimates of $548.09 million. During the same quarter last year, the firm posted $2.79 earnings per share. The business's revenue for the quarter was up 32.8% compared to the same quarter last year. As a group, equities research analysts forecast that Mr. Cooper Group will post 10.18 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on COOP. Citizens Jmp upgraded Mr. Cooper Group to a "strong-buy" rating in a report on Tuesday, January 14th. Wedbush reaffirmed an "outperform" rating and issued a $115.00 target price on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Compass Point boosted their price target on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. JMP Securities assumed coverage on shares of 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. Finally, Piper Sandler boosted their target price on shares of Mr. Cooper Group from $113.00 to $120.00 and gave the company an "overweight" rating in a report on Wednesday. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $104.13.

Insiders Place Their Bets

In other news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $97.58, for a total value of $2,927,400.00. Following the completion of the sale, the chief executive officer now directly owns 788,821 shares in the company, valued at $76,973,153.18. This represents a 3.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders sold 90,000 shares of company stock worth $8,414,400. Corporate insiders own 2.33% of the company's stock.

Hedge Funds Weigh In On Mr. Cooper Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in COOP. FMR LLC increased its stake in shares of Mr. Cooper Group by 42.9% during the third quarter. FMR LLC now owns 485,907 shares of the company's stock worth $44,791,000 after buying an additional 145,767 shares during the period. Basswood Capital Management L.L.C. raised its stake in Mr. Cooper Group by 36.6% in the third quarter. Basswood Capital Management L.L.C. now owns 496,243 shares of the company's stock valued at $45,744,000 after buying an additional 132,970 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Mr. Cooper Group by 11.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,247,434 shares of the company's stock worth $114,988,000 after acquiring an additional 125,055 shares in the last quarter. Barclays PLC boosted its position in shares of Mr. Cooper Group by 198.0% during the 3rd quarter. Barclays PLC now owns 132,017 shares of the company's stock worth $12,170,000 after acquiring an additional 87,712 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of Mr. Cooper Group by 746.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 66,753 shares of the company's stock valued at $5,422,000 after acquiring an additional 58,867 shares during the last quarter. Hedge funds and other institutional investors own 89.82% of the company's stock.

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.