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

Mr. Cooper Group Inc. (NASDAQ:COOP) saw a significant 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. Approximately 2.8% of the company’s stock are short sold. Based on an average daily trading volume, of 463,300 shares, the days-to-cover ratio is presently 3.7 days.

Mr. Cooper Group Trading Down 1.2 %

Shares of COOP opened at $97.44 on Tuesday. The company’s fifty day simple moving average is $94.29 and its 200 day simple moving average is $89.08. Mr. Cooper Group has a 1-year low of $61.38 and a 1-year high of $103.05. The company has a market cap of $6.23 billion, a price-to-earnings ratio of 12.67 and a beta of 1.41.

Mr. Cooper Group (NASDAQ:COOP) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $2.84 EPS for the quarter, topping 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 business had revenue of $616.00 million during the quarter, compared to analysts’ expectations of $548.09 million. During the same quarter last year, the company posted $2.79 earnings per share. Mr. Cooper Group’s quarterly revenue was up 32.8% on a year-over-year basis. As a group, research analysts forecast that Mr. Cooper Group will post 10.16 earnings per share for the current year.

Insider Activity

In other Mr. Cooper Group news, CEO Jesse K. Bray sold 30,000 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $88.41, for a total transaction of $2,652,300.00. Following the completion of the transaction, the chief executive officer now owns 818,821 shares in the company, valued at approximately $72,391,964.61. This represents a 3.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.33% of the company’s stock.

Hedge Funds Weigh In On Mr. Cooper Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its stake in Mr. Cooper Group by 77.1% in the 2nd quarter. Blue Trust Inc. now owns 333 shares of the company’s stock valued at $26,000 after purchasing an additional 145 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Mr. Cooper Group by 8,275.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company’s stock valued at $27,000 after acquiring an additional 331 shares during the period. Quarry LP acquired a new position in shares of Mr. Cooper Group in the second quarter valued at about $29,000. Financial Management Professionals Inc. bought a new position in Mr. Cooper Group during the third quarter worth about $30,000. Finally, Harvest Fund Management Co. Ltd raised its stake in Mr. Cooper Group by 152.5% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 447 shares of the company’s stock worth $41,000 after purchasing an additional 270 shares in the last quarter. 89.82% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Compass Point increased their price objective on Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Barclays lifted their price objective on shares of Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a report on Tuesday, October 8th. Finally, Wedbush reiterated an “outperform” rating and issued a $115.00 price target on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.00.

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.