Short Interest in Mr. Cooper Group Inc. (NASDAQ:COOP) Expands By 17.6%

Mr. Cooper Group Inc. (NASDAQ:COOP) was the target of a significant growth in short interest in 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 days-to-cover ratio is currently 3.3 days. Approximately 2.3% of the company’s stock are short sold.

Insiders Place Their Bets

In other news, CEO Jesse K. Bray sold 25,000 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $80.93, for a total transaction of $2,023,250.00. Following the transaction, the chief executive officer now owns 259,631 shares in the company, valued at $21,011,936.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.33% of the company’s stock.

Institutional Trading of Mr. Cooper Group

A number of institutional investors and hedge funds have recently modified their holdings of COOP. Quarry LP bought a new position in Mr. Cooper Group in the 2nd quarter valued at $29,000. Creative Planning boosted its holdings in shares of Mr. Cooper Group by 14.9% in the 2nd quarter. Creative Planning now owns 19,099 shares of the company’s stock worth $1,551,000 after buying an additional 2,478 shares during the last quarter. Waterfall Asset Management LLC bought a new position in Mr. Cooper Group during the second quarter valued at about $809,000. Algert Global LLC increased its holdings in Mr. Cooper Group by 12.5% during the second quarter. Algert Global LLC now owns 24,254 shares of the company’s stock worth $1,970,000 after buying an additional 2,704 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Mr. Cooper Group during the second quarter worth about $1,453,000. 89.82% of the stock is owned by hedge funds and other institutional investors.

Mr. Cooper Group Price Performance

Shares of NASDAQ COOP traded down $0.58 during trading on Friday, hitting $90.14. The stock had a trading volume of 402,354 shares, compared to its average volume of 453,445. The firm has a fifty day moving average of $84.54 and a two-hundred day moving average of $79.22. The company has a market capitalization of $5.81 billion, a PE ratio of 9.44 and a beta of 1.39. Mr. Cooper Group has a 12 month low of $52.46 and a 12 month high of $95.74.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Barclays upped their price target on Mr. Cooper Group from $94.00 to $103.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Piper Sandler increased 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. Jefferies Financial Group boosted their price target on shares of Mr. Cooper Group from $74.00 to $80.00 and gave the company a “hold” rating in a research note on Friday, April 19th. Wedbush upped their price objective on shares of Mr. Cooper Group from $100.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Keefe, Bruyette & Woods cut shares of Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 price objective for the company. in a report on Monday, July 22nd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Mr. Cooper Group presently has an average rating of “Moderate Buy” and a consensus price target of $91.88.

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.