Mr. Cooper Group (COOP) Shares Down 10.4%

Mr. Cooper Group Inc (NASDAQ:COOP) traded down 10.4% during trading on Wednesday . The company traded as low as $10.92 and last traded at $11.00. 2,640,556 shares traded hands during mid-day trading, an increase of 350% from the average session volume of 587,401 shares. The stock had previously closed at $12.27.

A number of equities research analysts recently commented on the company. Piper Jaffray Companies downgraded Mr. Cooper Group from a “neutral” rating to an “underweight” rating in a report on Wednesday. ValuEngine downgraded Mr. Cooper Group from a “hold” rating to a “sell” rating in a report on Tuesday. Barclays set a $18.00 price objective on Mr. Cooper Group and gave the company a “hold” rating in a report on Friday, March 8th. Zacks Investment Research downgraded Mr. Cooper Group from a “hold” rating to a “strong sell” rating in a report on Monday, December 31st. Finally, BTIG Research assumed coverage on Mr. Cooper Group in a report on Thursday, November 29th. They issued a “buy” rating and a $21.00 price objective for the company. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $20.67.

The firm has a market cap of $1.12 billion, a P/E ratio of 91.67 and a beta of 0.50. The company has a quick ratio of 2.42, a current ratio of 2.42 and a debt-to-equity ratio of 3.49.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in Mr. Cooper Group in the fourth quarter valued at about $412,000. Teacher Retirement System of Texas bought a new stake in Mr. Cooper Group in the fourth quarter valued at about $30,370,000. Dimensional Fund Advisors LP bought a new stake in Mr. Cooper Group in the fourth quarter valued at about $12,531,000. Oaktree Capital Management LP bought a new stake in shares of Mr. Cooper Group in the fourth quarter worth about $22,495,000. Finally, Millennium Management LLC bought a new stake in shares of Mr. Cooper Group in the fourth quarter worth about $164,000. Institutional investors and hedge funds own 86.43% of the company’s stock.

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About Mr. Cooper Group (NASDAQ:COOP)

Mr. Cooper Group Inc provides servicing, origination, and transaction-based services related principally to single-family residences in the United States. The company operates through three segments: Servicing, Originations, and Xome. The Servicing segment performs activities for originated and purchased loans, as well as operates as a subservicer for various clients that own the underlying servicing rights.

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