Mr. Cooper Group Inc. (NASDAQ:COOP) Sees Large Increase in Short Interest

Mr. Cooper Group Inc. (NASDAQ:COOP) saw a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 1,710,000 shares, a growth of 20.4% from the October 31st total of 1,420,000 shares. Based on an average daily trading volume, of 463,300 shares, the days-to-cover ratio is currently 3.7 days. Currently, 2.8% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Compass Point increased their target price on Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Wedbush restated an “outperform” rating and issued a $115.00 price objective on shares of Mr. Cooper Group in a report on Thursday, October 24th. Finally, Barclays boosted their target price on Mr. Cooper Group from $103.00 to $108.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.00.

Insider Buying and Selling at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $88.41, for a total transaction of $2,652,300.00. Following the transaction, the chief executive officer now owns 818,821 shares of the company’s stock, valued at $72,391,964.61. This trade represents a 3.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.33% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mr. Cooper Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in COOP. Blue Trust Inc. boosted its position in Mr. Cooper Group by 77.1% in the 2nd quarter. Blue Trust Inc. now owns 333 shares of the company’s stock valued at $26,000 after buying an additional 145 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Mr. Cooper Group by 8,275.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company’s stock worth $27,000 after acquiring an additional 331 shares in the last quarter. Quarry LP purchased a new position in Mr. Cooper Group in the second quarter valued at about $29,000. Financial Management Professionals Inc. acquired a new stake in Mr. Cooper Group during the 3rd quarter valued at approximately $30,000. Finally, Harvest Fund Management Co. Ltd increased its holdings in Mr. Cooper Group by 152.5% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock worth $41,000 after purchasing an additional 270 shares during the last quarter. Hedge funds and other institutional investors own 89.82% of the company’s stock.

Mr. Cooper Group Stock Performance

COOP stock opened at $98.67 on Friday. The firm has a market cap of $6.31 billion, a P/E ratio of 12.75 and a beta of 1.40. Mr. Cooper Group has a 1 year low of $60.01 and a 1 year high of $103.05. The stock has a 50-day simple moving average of $94.29 and a 200-day simple moving average of $88.99.

Mr. Cooper Group (NASDAQ:COOP) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.54 by $0.30. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%. The company had revenue of $616.00 million for the quarter, compared to analyst estimates of $548.09 million. During the same quarter last year, the firm posted $2.79 earnings per share. The business’s quarterly revenue was up 32.8% on a year-over-year basis. On average, equities research analysts predict that Mr. Cooper Group will post 10.16 EPS for the current year.

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.