Mr. Cooper Group Target of Unusually Large Options Trading (NASDAQ:COOP)

by · The Cerbat Gem

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

Insider Activity

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $88.41, for a total value of $2,652,300.00. Following the transaction, the chief executive officer now owns 818,821 shares of the company’s stock, valued at approximately $72,391,964.61. The trade was a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.33% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mr. Cooper Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in COOP. Vanguard Group Inc. grew its holdings in shares of Mr. Cooper Group by 0.6% during the first quarter. Vanguard Group Inc. now owns 7,668,898 shares of the company’s stock worth $597,791,000 after purchasing an additional 42,860 shares during the last quarter. State Street Corp grew its holdings in Mr. Cooper Group by 1.9% during the 3rd quarter. State Street Corp now owns 2,726,946 shares of the company’s stock worth $251,370,000 after acquiring an additional 51,667 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Mr. Cooper Group by 11.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,247,434 shares of the company’s stock valued at $114,988,000 after acquiring an additional 125,055 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Mr. Cooper Group by 6.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 916,365 shares of the company’s stock valued at $84,471,000 after acquiring an additional 52,001 shares during the last quarter. Finally, LSV Asset Management lifted its holdings in shares of Mr. Cooper Group by 249.2% during the second quarter. LSV Asset Management now owns 633,260 shares of the company’s stock worth $51,440,000 after purchasing an additional 451,926 shares during the period. Institutional investors own 89.82% of the company’s stock.

Mr. Cooper Group Price Performance

COOP traded down $0.67 during trading on Friday, hitting $96.18. 348,942 shares of the stock traded hands, compared to its average volume of 453,036. The business has a 50 day moving average price of $92.74 and a 200 day moving average price of $87.65. Mr. Cooper Group has a twelve month low of $56.84 and a twelve month high of $103.05. The company has a market cap of $6.15 billion, a price-to-earnings ratio of 12.51 and a beta of 1.40.

Mr. Cooper Group (NASDAQ:COOP – Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.54 by $0.30. Mr. Cooper Group had a return on equity of 13.77% and a net margin of 25.87%. The business had revenue of $616.00 million during the quarter, compared to the consensus estimate of $548.09 million. During the same period in the prior year, the company earned $2.79 EPS. Mr. Cooper Group’s revenue for the quarter was up 32.8% on a year-over-year basis. On average, equities research analysts predict that Mr. Cooper Group will post 10.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on COOP. Piper Sandler raised their price objective on Mr. Cooper Group from $91.00 to $106.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Compass Point lifted their price objective 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. Keefe, Bruyette & Woods cut shares of Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 target price on the stock. in a report on Monday, July 22nd. Wedbush reissued an “outperform” rating and set a $115.00 price target on shares of Mr. Cooper Group in a research report on Thursday, October 24th. Finally, Barclays raised their price target on Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.00.

Get Our Latest Stock Report on Mr. Cooper Group

Mr. Cooper Group Company Profile

(Get Free Report)

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.

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