Stock traders buy large volume of Mr. Cooper Group call options (NASDAQ:COOP)


Mr. Cooper Group Inc. (NASDAQ:COOP – Get Rating) saw unusual options trading activity on Wednesday. Traders bought 10,613 call options on the company. This represents a 3,637% increase from the typical volume of 284 call options.

COOP opened at $46.87 on Thursday. The Mr. Cooper group has a 12-month low of $31.42 and a 12-month high of $52.34. The company has a 50-day moving average of $46.06 and a two-hundred-day moving average of $43.98. The stock has a market capitalization of $3.46 billion, a price-earnings ratio of 2.50 and a beta of 1.39.

Mr. Cooper Group (NASDAQ:COOP – Get Rating) last released its results on Thursday, April 28. The company reported earnings per share (EPS) of $0.95 for the quarter, beating Thomson Reuters consensus estimate of $0.83 by $0.12. Mr. Cooper Group achieved a net margin of 48.79% and a return on equity of 16.11%. The company posted revenue of $625.00 million for the quarter, compared to $591.14 million expected by analysts. During the same period last year, the company earned earnings per share of $2.87. The company’s quarterly revenue was down 50.7% year over year. Equity research analysts predict Mr. Cooper Group will post EPS of 4.75 for the current year.

A number of brokerages have commented on COOP. Barclays lowered its price target on the Mr Cooper Group from $51.00 to $48.00 and set an “equal weight” rating on the stock in a Tuesday, April 12 report. BTIG Research began covering the Mr. Cooper Group in a research note on Wednesday, April 20. They set a “neutral” rating on the stock. Zacks Investment Research downgraded Mr. Cooper Group shares from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Credit Suisse Group raised its price target on Mr. Cooper Group shares from $52.00 to $59.00 and gave the stock an “outperform” rating in a Monday, Feb. 14 research note . Finally, Wedbush raised its price target on Mr. Cooper Group shares from $50.00 to $60.00 in a report on Monday, February 14. One analyst rated the stock with a sell rating, two gave the company a hold rating and two gave the company a buy rating. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $57.20.

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 46,000 shares of the company in a trade dated Wednesday, April 20. The shares were sold at an average price of $46.50, for a total value of $2,139,000.00. As a result of the sale, the CEO now owns 1,094,915 shares of the company, valued at $50,913,547.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC’s website. Additionally, CEO Jesse K. Bray sold 10,000 shares in a trade that took place on Tuesday, February 22. The shares were sold at an average price of $50.04, for a total transaction of $500,400.00. The disclosure of this sale can be found here. During the last quarter, insiders sold 59,603 shares of the company valued at $2,816,992. Insiders own 2.59% of the shares of the company.

Several hedge funds and other institutional investors have recently changed their positions in the company. Versor Investments LP increased its stake in Mr. Cooper Group by 28.5% during the first quarter. Versor Investments LP now owns 6,169 shares of the company worth $282,000 after acquiring 1,369 additional shares in the last quarter. Edge Capital Group LLC purchased a new stake in Mr. Cooper Group stock during Q1 worth approximately $685,000. Harvest Investment Services LLC increased its position in Mr. Cooper Group by 82.0% during the 1st quarter. Harvest Investment Services LLC now owns 23,868 shares of the company worth $1,090,000 after purchasing an additional 10,757 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in Mr. Cooper Group by 5.5% in the first quarter. Mutual of America Capital Management LLC now owns 10,825 shares of the company valued at $494,000 after purchasing an additional 561 shares during the period. Finally, NovaPoint Capital LLC acquired a new position in Mr. Cooper Group during the first quarter valued at approximately $235,000. 83.01% of the shares are held by institutional investors.

About Mr. Cooper Group (Get a rating)

Mr. Cooper Group Inc provides maintenance, origination and transaction services related to single family residences in the United States. The Company operates through two segments: servicing and originations. The Servicing segment performs activities for the underlying mortgage loans, including collecting and disbursing payments from borrowers, investor reporting, customer service and loan modification.

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