Short Interest in Mr. Cooper Group Inc. (NASDAQ:COOP) Rises By 20.4%

Mr. Cooper Group Inc. (NASDAQ:COOP) was the recipient of 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 volume of 463,300 shares, the days-to-cover ratio is currently 3.7 days. Approximately 2.8% of the company’s stock are short sold.

Mr. Cooper Group Price Performance

NASDAQ COOP opened at $97.44 on Tuesday. Mr. Cooper Group has a one year low of $61.38 and a one year high of $103.05. The business has a 50 day simple moving average of $94.29 and a 200 day simple moving average of $89.08. The stock has a market capitalization of $6.23 billion, a P/E ratio of 12.67 and a beta of 1.41.

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

Wall Street Analyst Weigh In

COOP has been the topic of several recent analyst reports. Wedbush restated an “outperform” rating and set a $115.00 price objective on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Compass Point boosted their price target 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. Finally, Barclays raised their price objective on Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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 business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 818,821 shares of the company’s stock, valued at $72,391,964.61. The trade was a 3.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.33% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Blue Trust Inc. lifted its position in shares of Mr. Cooper Group by 77.1% during the second quarter. Blue Trust Inc. now owns 333 shares of the company’s stock valued at $26,000 after purchasing an additional 145 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Mr. Cooper Group by 8,275.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company’s stock worth $27,000 after buying an additional 331 shares during the last quarter. Quarry LP bought a new position in shares of Mr. Cooper Group in the second quarter valued at approximately $29,000. Financial Management Professionals Inc. bought a new position in shares of Mr. Cooper Group in the third quarter valued at approximately $30,000. Finally, Harvest Fund Management Co. Ltd lifted its holdings in Mr. Cooper Group by 152.5% during the third quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock worth $41,000 after acquiring an additional 270 shares during the period. 89.82% of the stock is currently owned by institutional investors and hedge funds.

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.