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

Mr. Cooper Group Inc. (NASDAQ:COOP) was the target of unusually large options trading activity 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.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on COOP. Barclays lifted their price target on shares of Mr. Cooper Group from $80.00 to $85.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods boosted their target price on shares of Mr. Cooper Group from $83.00 to $86.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft began coverage on Mr. Cooper Group in a research note on Wednesday, January 10th. They issued a “buy” rating and a $88.00 price objective on the stock. Finally, Wedbush boosted their price target on Mr. Cooper Group from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, February 12th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $78.50.

Insider Buying and Selling

In other Mr. Cooper Group news, President Michael S. Weinbach bought 17,000 shares of Mr. Cooper Group stock in a transaction on Tuesday, February 13th. The stock was purchased at an average cost of $71.16 per share, for a total transaction of $1,209,720.00. Following the completion of the purchase, the president now directly owns 17,000 shares of the company’s stock, valued at $1,209,720. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 Monday, January 29th. The shares were sold at an average price of $67.56, for a total value of $1,689,000.00. Following the completion of the sale, the chief executive officer now directly owns 391,051 shares in the company, valued at $26,419,405.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Michael S. Weinbach purchased 17,000 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was purchased at an average cost of $71.16 per share, for a total transaction of $1,209,720.00. Following the transaction, the president now 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 three months, insiders sold 75,000 shares of company stock worth $5,431,500. 3.11% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mr. Cooper Group

Several large investors have recently made changes to their positions in the company. Triasima Portfolio Management inc. acquired a new position in Mr. Cooper Group in the fourth quarter valued at about $1,354,000. Vanguard Group Inc. increased its holdings in shares of Mr. Cooper Group by 1.1% in the third quarter. Vanguard Group Inc. now owns 7,234,258 shares of the company’s stock worth $387,467,000 after acquiring an additional 77,838 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Mr. Cooper Group by 12.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,593,780 shares of the company’s stock worth $103,787,000 after acquiring an additional 182,014 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of Mr. Cooper Group by 383.5% in the third quarter. Hsbc Holdings PLC now owns 146,704 shares of the company’s stock worth $7,878,000 after acquiring an additional 116,360 shares in the last quarter. Finally, Cambria Investment Management L.P. increased its holdings in shares of Mr. Cooper Group by 6.6% in the third quarter. Cambria Investment Management L.P. now owns 168,423 shares of the company’s stock worth $9,021,000 after acquiring an additional 10,486 shares in the last quarter. Institutional investors and hedge funds own 89.82% of the company’s stock.

Mr. Cooper Group Stock Performance

Mr. Cooper Group stock opened at $75.77 on Friday. The firm has a market cap of $4.94 billion, a P/E ratio of 10.32 and a beta of 1.38. The business’s fifty day moving average is $74.37 and its two-hundred day moving average is $65.61. Mr. Cooper Group has a 52 week low of $41.74 and a 52 week high of $78.54.

Mr. Cooper Group (NASDAQ:COOP) last issued its quarterly earnings results on Friday, February 9th. The company reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.34. Mr. Cooper Group had a return on equity of 12.01% and a net margin of 27.87%. The business had revenue of $404.00 million for the quarter, compared to analyst estimates of $398.31 million. On average, equities research analysts predict that Mr. Cooper Group will post 9.01 earnings per share for the current year.

About Mr. Cooper Group

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.