Stock Traders Buy High Volume of Call Options on Mr. Cooper Group (NASDAQ:COOP)

Mr. Cooper Group Inc. (NASDAQ:COOP) saw unusually large options trading activity on Wednesday. Traders purchased 10,613 call options on the company. This is an increase of approximately 3,637% compared to the average volume of 284 call options.

Mr. Cooper Group Stock Performance

Shares of COOP opened at $77.51 on Thursday. The company’s fifty day moving average is $75.29 and its 200 day moving average is $67.14. Mr. Cooper Group has a fifty-two week low of $41.74 and a fifty-two week high of $81.98. The stock has a market capitalization of $5.02 billion, a PE ratio of 8.12 and a beta of 1.38.

Mr. Cooper Group (NASDAQ:COOP) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.11 by $0.17. Mr. Cooper Group had a net margin of 31.75% and a return on equity of 13.31%. The company had revenue of $564.00 million for the quarter, compared to analysts’ expectations of $498.15 million. As a group, research analysts forecast that Mr. Cooper Group will post 9.48 earnings per share for the current year.

Insider Buying and Selling

In other Mr. Cooper Group news, President Michael S. Weinbach acquired 17,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were bought at an average price of $71.16 per share, with a total value of $1,209,720.00. Following the completion of the acquisition, the president now owns 17,000 shares in the company, valued at approximately $1,209,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Mr. Cooper Group news, CEO Jesse K. Bray sold 25,000 shares of Mr. Cooper Group stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $78.09, for a total transaction of $1,952,250.00. Following the transaction, the chief executive officer now owns 334,631 shares of the company’s stock, valued at $26,131,334.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Michael S. Weinbach purchased 17,000 shares of the stock in a transaction on Tuesday, February 13th. The shares were purchased at an average cost of $71.16 per share, for a total transaction of $1,209,720.00. Following the acquisition, the president now directly owns 17,000 shares of the company’s stock, valued at $1,209,720. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 75,000 shares of company stock valued at $5,712,250. 2.33% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Capstone Investment Advisors LLC bought a new position in Mr. Cooper Group during the first quarter valued at $472,000. Janney Capital Management LLC bought a new position in Mr. Cooper Group during the first quarter valued at $365,000. Precision Wealth Strategies LLC bought a new position in Mr. Cooper Group during the first quarter valued at $229,000. Principal Financial Group Inc. increased its position in Mr. Cooper Group by 8.8% during the first quarter. Principal Financial Group Inc. now owns 373,347 shares of the company’s stock valued at $29,102,000 after acquiring an additional 30,260 shares during the last quarter. Finally, Dakota Wealth Management grew its holdings in shares of Mr. Cooper Group by 6.7% in the first quarter. Dakota Wealth Management now owns 25,032 shares of the company’s stock worth $1,951,000 after purchasing an additional 1,562 shares during the last quarter. Institutional investors own 89.82% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Barclays lifted their price target on shares of Mr. Cooper Group from $85.00 to $94.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $92.00 target price (up previously from $86.00) on shares of Mr. Cooper Group in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Mr. Cooper Group from $88.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Jefferies Financial Group boosted their target price on shares of Mr. Cooper Group from $74.00 to $80.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Finally, Wedbush boosted their target price on shares of Mr. Cooper Group from $85.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.22.

Mr. Cooper Group Company Profile

Mr. Cooper Group Inc engages in non-banking services for mortgage loans the United States. The company operates through Servicing and Originations segments. The Servicing segment performs activities for underlying mortgages, including collecting and disbursing borrower payments, investor reporting, customer service, and modifying loans.