Mr. Cooper Group Inc. (NASDAQ:COOP) Sees Significant Decline in Short Interest

Mr. Cooper Group Inc. (NASDAQ:COOP) was the target of a large drop in short interest in June. As of June 30th, there was short interest totalling 1,140,000 shares, a drop of 11.6% from the June 15th total of 1,290,000 shares. Currently, 1.8% of the company’s stock are short sold. Based on an average trading volume of 389,300 shares, the days-to-cover ratio is presently 2.9 days.

Analyst Ratings Changes

COOP has been the subject of several analyst reports. Keefe, Bruyette & Woods increased their price objective on shares of Mr. Cooper Group from $92.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Mr. Cooper Group from $88.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Jefferies Financial Group raised their price target on shares of Mr. Cooper Group from $74.00 to $80.00 and gave the stock a “hold” rating in a research note on Friday, April 19th. Barclays raised their price target on shares of Mr. Cooper Group from $85.00 to $94.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Finally, Wedbush raised their price target on shares of Mr. Cooper Group from $85.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Mr. Cooper Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.50.

Mr. Cooper Group Stock Performance

Mr. Cooper Group stock traded down $0.93 during mid-day trading on Wednesday, reaching $88.51. The company’s stock had a trading volume of 447,882 shares, compared to its average volume of 446,363. Mr. Cooper Group has a 12-month low of $52.46 and a 12-month high of $89.54. The company has a market capitalization of $5.73 billion, a P/E ratio of 9.27 and a beta of 1.39. The firm’s fifty day moving average price is $82.50 and its two-hundred day moving average price is $75.78.

Mr. Cooper Group (NASDAQ:COOP) last released its quarterly earnings data on Wednesday, April 24th. The company reported $2.28 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.17. Mr. Cooper Group had a net margin of 31.75% and a return on equity of 13.31%. The business had revenue of $564.00 million during the quarter, compared to analyst estimates of $498.15 million. On average, research analysts predict that Mr. Cooper Group will post 9.37 EPS for the current fiscal year.

Insider Activity at Mr. Cooper Group

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 25,000 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $78.79, for a total value of $1,969,750.00. Following the completion of the sale, the chief executive officer now owns 309,631 shares in the company, valued at approximately $24,395,826.49. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Mr. Cooper Group news, CEO Jesse K. Bray sold 25,000 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $78.79, for a total value of $1,969,750.00. Following the completion of the sale, the chief executive officer now owns 309,631 shares in the company, valued at approximately $24,395,826.49. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael R. Rawls sold 27,000 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $82.18, for a total transaction of $2,218,860.00. Following the completion of the sale, the chief executive officer now owns 57,623 shares of the company’s stock, valued at approximately $4,735,458.14. The disclosure for this sale can be found here. In the last quarter, insiders have sold 102,000 shares of company stock valued at $8,247,360. 2.33% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of COOP. USA Financial Formulas bought a new position in Mr. Cooper Group in the 4th quarter valued at $25,000. CWM LLC lifted its holdings in shares of Mr. Cooper Group by 34.5% during the 2nd quarter. CWM LLC now owns 601 shares of the company’s stock worth $49,000 after acquiring an additional 154 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Mr. Cooper Group during the 4th quarter worth $61,000. Quest Partners LLC bought a new stake in shares of Mr. Cooper Group during the 4th quarter worth $61,000. Finally, Perkins Coie Trust Co bought a new stake in shares of Mr. Cooper Group during the 2nd quarter worth $81,000. 89.82% of the stock is owned by institutional investors.

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.