Mr. Cooper Group Target of Unusually High Options Trading (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 stock. This is an increase of 3,637% compared to the typical daily volume of 284 call options.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Barclays raised their target price on shares of Mr. Cooper Group from $85.00 to $94.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Keefe, Bruyette & Woods raised their target price on shares of Mr. Cooper Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday. Wedbush raised their target price on shares of Mr. Cooper Group from $85.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Jefferies Financial Group raised their target price on shares of Mr. Cooper Group from $74.00 to $80.00 and gave the company a “hold” rating in a research note on Friday, April 19th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Mr. Cooper Group from $88.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Mr. Cooper Group currently has an average rating of “Moderate Buy” and an average price target of $85.50.

Mr. Cooper Group Price Performance

Shares of Mr. Cooper Group stock opened at $84.15 on Friday. The firm has a fifty day moving average price of $82.02 and a 200 day moving average price of $75.11. Mr. Cooper Group has a 1 year low of $50.82 and a 1 year high of $85.17. The stock has a market cap of $5.45 billion, a PE ratio of 8.81 and a beta of 1.39.

Mr. Cooper Group (NASDAQ:COOP) last issued its earnings results on Wednesday, April 24th. The company reported $2.28 earnings per share (EPS) 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 firm had revenue of $564.00 million during the quarter, compared to analysts’ expectations of $498.15 million. As a group, equities analysts expect that Mr. Cooper Group will post 9.42 EPS for the current year.

Insider Activity at Mr. Cooper Group

In related news, CEO Michael R. Rawls sold 27,000 shares of Mr. Cooper Group stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $82.18, for a total transaction of $2,218,860.00. Following the transaction, the chief executive officer now directly owns 57,623 shares of the company’s stock, valued at $4,735,458.14. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Jesse K. Bray sold 25,000 shares of Mr. Cooper Group stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $78.79, for a total transaction of $1,969,750.00. Following the transaction, the chief executive officer now directly owns 309,631 shares of the company’s stock, valued at $24,395,826.49. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael R. Rawls sold 27,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $82.18, for a total transaction of $2,218,860.00. Following the completion of the sale, the chief executive officer now owns 57,623 shares of the company’s stock, valued at $4,735,458.14. The disclosure for this sale can be found here. Insiders have sold a total of 102,000 shares of company stock valued at $8,247,360 over the last ninety days. 2.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Mr. Cooper Group by 0.6% during the first quarter. Vanguard Group Inc. now owns 7,668,898 shares of the company’s stock worth $597,791,000 after purchasing an additional 42,860 shares during the last quarter. Wellington Management Group LLP increased its holdings in Mr. Cooper Group by 1.5% in the fourth quarter. Wellington Management Group LLP now owns 1,714,900 shares of the company’s stock valued at $111,674,000 after buying an additional 25,351 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in 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 valued at $103,787,000 after buying an additional 182,014 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Mr. Cooper Group by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 768,848 shares of the company’s stock valued at $50,067,000 after buying an additional 37,823 shares in the last quarter. Finally, Norges Bank purchased a new position in Mr. Cooper Group in the fourth quarter valued at $47,104,000. 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.