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

Posted by on Jun 15th, 2023

Mr. Cooper Group Inc. (NASDAQ:COOP – Get Rating) was the recipient of some unusual options trading activity on Wednesday. Stock traders bought 10,613 call options on the stock. This is an increase of 3,637% compared to the typical daily volume of 284 call options.

Insider Buying and Selling at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 21,000 shares of the company’s stock in a transaction on Friday, April 28th. The stock was sold at an average price of $46.59, for a total transaction of $978,390.00. Following the completion of the sale, the chief executive officer now directly owns 603,871 shares in the company, valued at $28,134,349.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.11% of the company’s stock.

Institutional Trading of Mr. Cooper Group

A number of institutional investors and hedge funds have recently bought and sold shares of COOP. Bank of New York Mellon Corp lifted its holdings in Mr. Cooper Group by 4.2% in the third quarter. Bank of New York Mellon Corp now owns 813,610 shares of the company’s stock valued at $32,952,000 after buying an additional 33,049 shares during the period. Lido Advisors LLC acquired a new stake in Mr. Cooper Group during the third quarter worth approximately $348,000. Exchange Traded Concepts LLC increased its holdings in Mr. Cooper Group by 3.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 16,838 shares of the company’s stock worth $676,000 after purchasing an additional 560 shares in the last quarter. Gratus Capital LLC acquired a new position in Mr. Cooper Group in the fourth quarter valued at approximately $287,000. Finally, Rubric Capital Management LP boosted its holdings in shares of Mr. Cooper Group by 70.1% during the 3rd quarter. Rubric Capital Management LP now owns 1,095,972 shares of the company’s stock worth $44,387,000 after buying an additional 451,675 shares in the last quarter. 83.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Credit Suisse Group upped their price objective on shares of Mr. Cooper Group from $57.00 to $59.00 in a research report on Friday, May 12th.

Mr. Cooper Group Trading Down 1.4 %

NASDAQ:COOP opened at $48.63 on Thursday. The stock’s 50-day moving average is $45.22 and its 200-day moving average is $43.96. Mr. Cooper Group has a 1-year low of $35.81 and a 1-year high of $49.94. The stock has a market cap of $3.31 billion, a P/E ratio of 11.83 and a beta of 1.57.

Mr. Cooper Group (NASDAQ:COOP – Get Rating) last posted its earnings results on Wednesday, April 26th. The company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.06. The firm had revenue of $330.00 million for the quarter, compared to analyst estimates of $388.93 million. Mr. Cooper Group had a net margin of 17.34% and a return on equity of 4.94%. As a group, equities analysts forecast that Mr. Cooper Group will post 5.33 EPS for the current year.

Mr. Cooper Group Company Profile

(Get Rating)

Mr. Cooper Group, Inc engages in the provision of residential loan services. It operated through the following segments: Servicing, and Originations. The Servicing segment consists of collecting loan payments, remitting principal and interest payments to investors, managing escrow funds for the payment of mortgage-related expenses, such as taxes and insurance, performing loss mitigation activities on behalf of investors and otherwise administering mortgage loan servicing portfolio.

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