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

Mr. Cooper Group Inc. (NASDAQ:COOP) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 1,400,000 shares, a growth of 17.6% from the July 15th total of 1,190,000 shares. Based on an average daily volume of 430,500 shares, the short-interest ratio is currently 3.3 days. Approximately 2.3% of the shares of the company are short sold.

Mr. Cooper Group Stock Performance

Shares of COOP stock traded down $0.58 on Friday, hitting $90.14. The company’s stock had a trading volume of 402,359 shares, compared to its average volume of 453,445. Mr. Cooper Group has a fifty-two week low of $52.46 and a fifty-two week high of $95.74. The stock’s 50 day moving average is $84.71 and its 200-day moving average is $79.37. The company has a market capitalization of $5.83 billion, a PE ratio of 9.44 and a beta of 1.39.

Mr. Cooper Group (NASDAQ:COOP) last issued its quarterly earnings results on Thursday, July 25th. The company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.33 by $0.19. Mr. Cooper Group had a return on equity of 14.10% and a net margin of 33.22%. The business had revenue of $583.00 million during the quarter, compared to analysts’ expectations of $552.09 million. During the same period in the previous year, the company posted $1.66 earnings per share. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, research analysts forecast that Mr. Cooper Group will post 9.85 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on COOP shares. Barclays lifted their price target on shares of Mr. Cooper Group from $94.00 to $103.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Wedbush lifted their price objective on Mr. Cooper Group from $100.00 to $115.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Piper Sandler raised their target price on Mr. Cooper Group from $91.00 to $106.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Keefe, Bruyette & Woods cut Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 price target for the company. in a research note on Monday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective 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. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $91.88.

Insiders Place Their Bets

In other news, CEO Jesse K. Bray sold 25,000 shares of the stock in a transaction on Friday, June 28th. The shares were sold at an average price of $80.93, for a total value of $2,023,250.00. Following the completion of the transaction, the chief executive officer now owns 259,631 shares in the company, valued at approximately $21,011,936.83. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.33% of the company’s stock.

Institutional Investors Weigh In On Mr. Cooper Group

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in Mr. Cooper Group in the fourth quarter valued at approximately $47,104,000. LSV Asset Management increased its position in shares of Mr. Cooper Group by 249.2% during the second quarter. LSV Asset Management now owns 633,260 shares of the company’s stock worth $51,440,000 after buying an additional 451,926 shares during the period. Goldman Sachs Group Inc. raised its stake in Mr. Cooper Group by 198.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 663,530 shares of the company’s stock worth $43,209,000 after buying an additional 441,282 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Mr. Cooper Group by 5.4% in the fourth quarter. Vanguard Group Inc. now owns 7,626,038 shares of the company’s stock valued at $496,608,000 after buying an additional 391,780 shares during the period. Finally, Cercano Management LLC bought a new stake in Mr. Cooper Group during the fourth quarter valued at $23,527,000. 89.82% of the stock is owned by institutional investors.

About Mr. Cooper Group

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.