Mr. Cooper Group Sees Unusually Large Options Volume (NASDAQ:COOP)

Mr. Cooper Group Inc. (NASDAQ:COOP) was the recipient of unusually large options trading on Wednesday. Stock traders acquired 10,613 call options on the company. This is an increase of approximately 3,637% compared to the typical volume of 284 call options.

Mr. Cooper Group Trading Down 1.5 %

Shares of Mr. Cooper Group stock opened at $112.72 on Thursday. Mr. Cooper Group has a 12 month low of $75.28 and a 12 month high of $137.60. The stock’s fifty day moving average price is $110.59 and its 200-day moving average price is $101.45. The firm has a market cap of $7.17 billion, a P/E ratio of 11.07, a P/E/G ratio of 0.32 and a beta of 1.17.

Mr. Cooper Group (NASDAQ:COOP) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $2.73 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%. Analysts forecast that Mr. Cooper Group will post 13.17 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently commented on COOP shares. Piper Sandler downgraded shares of Mr. Cooper Group from an “overweight” rating to a “neutral” rating and increased their price target for the company from $125.00 to $143.00 in a report on Friday, April 4th. JMP Securities reiterated a “market outperform” rating and issued a $115.00 target price on shares of Mr. Cooper Group in a report on Thursday, February 13th. Citizens Jmp lowered Mr. Cooper Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 1st. UBS Group lifted their price objective on shares of Mr. Cooper Group from $135.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Keefe, Bruyette & Woods increased their target price on shares of Mr. Cooper Group from $115.00 to $143.00 and gave the company a “market perform” rating in a research note on Tuesday, April 8th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $120.89.

Insider Transactions at Mr. Cooper Group

In other news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $112.24, for a total transaction of $3,367,200.00. Following the sale, the chief executive officer now owns 698,821 shares in the company, valued at $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 SEC, which is available at the SEC website. Corporate insiders own 2.33% of the company’s stock.

Hedge Funds Weigh In On Mr. Cooper Group

Large investors have recently bought and sold shares of the business. USA Financial Formulas purchased a new position in shares of Mr. Cooper Group in the 1st quarter valued at $55,000. Assenagon Asset Management S.A. grew its stake in Mr. Cooper Group by 13.9% in the first quarter. Assenagon Asset Management S.A. now owns 1,057,176 shares of the company’s stock valued at $126,438,000 after purchasing an additional 129,414 shares during the last quarter. Trueblood Wealth Management LLC bought a new position in Mr. Cooper Group in the first quarter worth about $218,000. SG Americas Securities LLC lifted its position in shares of Mr. Cooper Group by 711.6% during the first quarter. SG Americas Securities LLC now owns 10,551 shares of the company’s stock valued at $1,262,000 after buying an additional 9,251 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Mr. Cooper Group in the 1st quarter valued at about $1,877,000. 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.