Investors Purchase Large Volume of Call Options on Mr. Cooper Group (NASDAQ:COOP)

Mr. Cooper Group Inc. (NASDAQ:COOP) saw some unusual options trading activity on Wednesday. Stock investors purchased 10,613 call options on the company. This is an increase of 3,637% compared to the typical volume of 284 call options.

Mr. Cooper Group Trading Down 1.4 %

NASDAQ:COOP opened at $92.35 on Friday. The company has a 50-day moving average of $89.49 and a 200-day moving average of $82.76. The firm has a market cap of $5.98 billion, a price-to-earnings ratio of 9.82 and a beta of 1.41. Mr. Cooper Group has a twelve month low of $52.46 and a twelve month high of $96.00.

Mr. Cooper Group (NASDAQ:COOP) last issued its earnings results on Thursday, July 25th. The company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.33 by $0.19. The firm had revenue of $583.00 million during the quarter, compared to analysts’ expectations of $552.09 million. Mr. Cooper Group had a net margin of 33.22% and a return on equity of 14.10%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period last year, the firm posted $1.66 earnings per share. On average, research analysts forecast that Mr. Cooper Group will post 9.86 earnings per share for the current year.

Insider Buying and Selling at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 25,000 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $80.93, for a total transaction of $2,023,250.00. Following the sale, the chief executive officer now owns 259,631 shares of the company’s stock, valued at $21,011,936.83. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.33% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mr. Cooper Group

Several large investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of Mr. Cooper Group by 984.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 390,957 shares of the company’s stock valued at $30,476,000 after purchasing an additional 354,905 shares during the last quarter. K2 Principal Fund L.P. lifted its stake in Mr. Cooper Group by 97.7% during the fourth quarter. K2 Principal Fund L.P. now owns 279,510 shares of the company’s stock valued at $18,202,000 after buying an additional 138,147 shares in the last quarter. 1832 Asset Management L.P. acquired a new position in shares of Mr. Cooper Group in the first quarter worth about $5,301,000. Allianz Asset Management GmbH increased its position in shares of Mr. Cooper Group by 2,060.4% in the fourth quarter. Allianz Asset Management GmbH now owns 102,423 shares of the company’s stock worth $6,670,000 after acquiring an additional 97,682 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Mr. Cooper Group by 68.2% during the first quarter. Sei Investments Co. now owns 36,139 shares of the company’s stock valued at $2,817,000 after acquiring an additional 14,652 shares during the period. 89.82% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on COOP. Piper Sandler upped their price target on Mr. Cooper Group from $91.00 to $106.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. 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. Barclays boosted their target price on shares of Mr. Cooper Group from $94.00 to $103.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, Wedbush raised their price objective on shares of Mr. Cooper Group from $100.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Mr. Cooper Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.57.

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.