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

Mr. Cooper Group Inc. (NASDAQ:COOP) was the recipient of unusually large options trading activity on Wednesday. Traders bought 10,613 call options on the stock. This represents an increase of approximately 3,637% compared to the typical volume of 284 call options.

Mr. Cooper Group Stock Up 0.2 %

Shares of NASDAQ COOP opened at $75.71 on Thursday. Mr. Cooper Group has a 52 week low of $41.74 and a 52 week high of $78.54. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of 10.31 and a beta of 1.38. The firm has a 50-day simple moving average of $74.22 and a 200-day simple moving average of $65.54.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings data on Friday, February 9th. The company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.34. Mr. Cooper Group had a net margin of 27.87% and a return on equity of 12.01%. The firm had revenue of $404.00 million during the quarter, compared to analysts’ expectations of $398.31 million. As a group, equities research analysts expect that Mr. Cooper Group will post 9.01 EPS for the current year.

Analyst Upgrades and Downgrades

COOP has been the topic of several recent research reports. Keefe, Bruyette & Woods upped their price objective on shares of Mr. Cooper Group from $83.00 to $86.00 and gave the company an “outperform” rating in a report on Tuesday, April 9th. Barclays upped their price objective on shares of Mr. Cooper Group from $80.00 to $85.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft started coverage on shares of Mr. Cooper Group in a research report on Wednesday, January 10th. They set a “buy” rating and a $88.00 price objective for the company. Finally, Wedbush upped their price objective on shares of Mr. Cooper Group from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, February 12th. Seven analysts have rated the stock with a buy rating, According to MarketBeat, Mr. Cooper Group currently has a consensus rating of “Buy” and a consensus target price of $78.50.

Insider Buying and Selling

In other news, President Michael S. Weinbach acquired 17,000 shares of Mr. Cooper Group stock in a transaction that occurred on Tuesday, February 13th. The stock was purchased at an average price of $71.16 per share, for a total transaction of $1,209,720.00. Following the purchase, the president now directly owns 17,000 shares in the company, valued at approximately $1,209,720. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, President Michael S. Weinbach purchased 17,000 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were acquired at an average price of $71.16 per share, for a total transaction of $1,209,720.00. Following the purchase, the president now owns 17,000 shares of the company’s stock, valued at approximately $1,209,720. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jesse K. Bray sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $67.56, for a total transaction of $1,689,000.00. Following the transaction, the chief executive officer now owns 391,051 shares in the company, valued at approximately $26,419,405.56. The disclosure for this sale can be found here. Insiders sold a total of 75,000 shares of company stock worth $5,431,500 in the last 90 days. 3.11% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. BlackRock Inc. boosted its stake in shares of Mr. Cooper Group by 4.2% in the first quarter. BlackRock Inc. now owns 11,145,045 shares of the company’s stock valued at $456,612,000 after purchasing an additional 450,346 shares during the period. Vanguard Group Inc. boosted its stake in shares of Mr. Cooper Group by 25.0% in the first quarter. Vanguard Group Inc. now owns 8,125,291 shares of the company’s stock valued at $371,082,000 after purchasing an additional 1,622,582 shares during the period. State Street Corp boosted its stake in shares of Mr. Cooper Group by 0.5% in the second quarter. State Street Corp now owns 2,726,074 shares of the company’s stock valued at $138,048,000 after purchasing an additional 13,203 shares during the period. Morgan Stanley boosted its stake in shares of Mr. Cooper Group by 49.9% in the third quarter. Morgan Stanley now owns 2,033,145 shares of the company’s stock valued at $108,895,000 after purchasing an additional 676,483 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of Mr. Cooper Group by 12,377.0% in the first quarter. Wellington Management Group LLP now owns 1,841,226 shares of the company’s stock valued at $84,089,000 after purchasing an additional 1,826,469 shares during the period. Hedge funds and other institutional investors own 89.82% of the company’s stock.

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.