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

Mr. Cooper Group Inc. (NASDAQ:COOP) was the target of some unusual options trading on Wednesday. Traders purchased 10,613 call options on the company. This represents an increase of 3,637% compared to the average daily volume of 284 call options.

Analyst Upgrades and Downgrades

Several research firms have recently commented on COOP. Barclays lifted their price target on Mr. Cooper Group from $111.00 to $130.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Citizens Jmp upgraded shares of Mr. Cooper Group to a “strong-buy” rating in a report on Tuesday, January 14th. Keefe, Bruyette & Woods raised their price target on shares of Mr. Cooper Group from $105.00 to $115.00 and gave the stock a “market perform” rating in a report on Thursday, February 13th. Piper Sandler upped their price objective on Mr. Cooper Group from $113.00 to $120.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Finally, JMP Securities reissued a “market outperform” rating and set a $115.00 target price on shares of Mr. Cooper Group in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $112.22.

Mr. Cooper Group Price Performance

Shares of Mr. Cooper Group stock opened at $103.55 on Thursday. The stock has a market capitalization of $6.59 billion, a price-to-earnings ratio of 10.17, a price-to-earnings-growth ratio of 0.32 and a beta of 1.49. The business has a 50-day moving average of $104.73 and a 200 day moving average of $97.87. Mr. Cooper Group has a 12 month low of $73.87 and a 12 month high of $114.05.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $2.73 earnings per share for the quarter, beating analysts’ consensus estimates of $2.65 by $0.08. Mr. Cooper Group had a net margin of 30.07% and a return on equity of 14.76%. Equities research analysts anticipate that Mr. Cooper Group will post 13.17 earnings per share for the current year.

Insider Activity

In related news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $112.24, for a total transaction of $3,367,200.00. Following the transaction, the chief executive officer now owns 698,821 shares in the company, valued at approximately $78,435,669.04. This trade represents a 4.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.33% of the company’s stock.

Institutional Trading of Mr. Cooper Group

Large investors have recently modified their holdings of the stock. State Street Corp boosted its holdings in Mr. Cooper Group by 1.9% in the third quarter. State Street Corp now owns 2,726,946 shares of the company’s stock valued at $251,370,000 after purchasing an additional 51,667 shares during the period. Invesco Ltd. boosted its stake in shares of Mr. Cooper Group by 5.2% in the 4th quarter. Invesco Ltd. now owns 1,800,369 shares of the company’s stock valued at $172,853,000 after buying an additional 89,544 shares during the period. Wellington Management Group LLP grew its position in shares of Mr. Cooper Group by 43.1% during the fourth quarter. Wellington Management Group LLP now owns 1,138,904 shares of the company’s stock worth $109,346,000 after buying an additional 343,243 shares in the last quarter. Charles Schwab Investment Management Inc. increased 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 worth $84,471,000 after buying an additional 52,001 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Mr. Cooper Group by 16.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 871,902 shares of the company’s stock valued at $83,712,000 after acquiring an additional 125,897 shares in the last quarter. Hedge funds and other institutional investors own 89.82% of the company’s stock.

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.