Mr. Cooper Group Sees Unusually Large Options Volume (NASDAQ:COOP)

Mr. Cooper Group Inc (NASDAQ:COOP) was the target of some unusual options trading on Wednesday. Traders acquired 10,613 call options on the company. This represents an increase of 3,637% compared to the typical volume of 284 call options.

Wall Street Analysts Forecast Growth

COOP has been the subject of a number of recent research reports. UBS Group set a $176.00 price objective on Mr. Cooper Group in a report on Tuesday, August 5th. Jefferies Financial Group increased their price objective on Mr. Cooper Group from $110.00 to $150.00 and gave the company a “hold” rating in a report on Tuesday, July 22nd. Barclays increased their price target on Mr. Cooper Group from $147.00 to $156.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Mr. Cooper Group in a report on Saturday, September 27th. Finally, Piper Sandler increased their price target on Mr. Cooper Group from $143.00 to $158.00 and gave the stock a “neutral” rating in a report on Tuesday, July 1st. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $140.38.

Insiders Place Their Bets

In related news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $182.43, for a total value of $5,472,900.00. Following the completion of the sale, the chief executive officer directly owned 633,187 shares in the company, valued at $115,512,304.41. This represents a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.73% of the stock is owned by insiders.

Institutional Trading of Mr. Cooper Group

Several large investors have recently made changes to their positions in COOP. Farther Finance Advisors LLC grew its stake in shares of Mr. Cooper Group by 20.0% in the 1st quarter. Farther Finance Advisors LLC now owns 1,134 shares of the company’s stock valued at $142,000 after buying an additional 189 shares during the period. GAMMA Investing LLC grew its stake in shares of Mr. Cooper Group by 19.1% in the 1st quarter. GAMMA Investing LLC now owns 2,603 shares of the company’s stock valued at $311,000 after buying an additional 418 shares during the period. SG Americas Securities LLC grew its stake in shares of Mr. Cooper Group by 711.6% in the 1st quarter. SG Americas Securities LLC now owns 10,551 shares of the company’s stock valued at $1,262,000 after buying an additional 9,251 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Mr. Cooper Group in the 1st quarter valued at about $320,000. Finally, Longboard Asset Management LP acquired a new stake in shares of Mr. Cooper Group in the 1st quarter valued at about $235,000. 89.82% of the stock is currently owned by institutional investors and hedge funds.

Mr. Cooper Group Stock Performance

Shares of Mr. Cooper Group stock opened at $210.79 on Friday. The business has a 50-day moving average price of $204.20 and a two-hundred day moving average price of $160.12. Mr. Cooper Group has a 1-year low of $84.68 and a 1-year high of $234.73. The company has a market cap of $13.49 billion, a P/E ratio of 24.12 and a beta of 1.08.

Mr. Cooper Group (NASDAQ:COOP) last issued its earnings results on Wednesday, July 23rd. The company reported $3.13 EPS for the quarter, missing the consensus estimate of $3.28 by ($0.15). The firm had revenue of $608.00 million during the quarter, compared to analyst estimates of $669.23 million. Mr. Cooper Group had a net margin of 25.38% and a return on equity of 15.66%. The business’s quarterly revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.10 earnings per share. Equities research analysts forecast that Mr. Cooper Group will post 13.17 EPS for the current fiscal year.

Mr. Cooper Group Announces Dividend

The company also recently announced a special dividend, which was paid on Tuesday, October 7th. Stockholders of record on Monday, September 29th were paid a $0.01 dividend. The ex-dividend date was Monday, September 29th. Mr. Cooper Group’s dividend payout ratio (DPR) is currently 22.88%.

About Mr. Cooper Group

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.