Mr. Cooper Group Inc. (NASDAQ:COOP) Short Interest Up 17.6% in July

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 presently 3.3 days. Approximately 2.3% of the company’s shares are short sold.

Wall Street Analyst Weigh In

COOP has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on Mr. Cooper Group from $88.00 to $90.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Jefferies Financial Group upped their target price on Mr. Cooper Group from $74.00 to $80.00 and gave the stock a “hold” rating in a report on Friday, April 19th. Piper Sandler raised their target price on shares of Mr. Cooper Group from $91.00 to $106.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Barclays increased their price objective on shares of Mr. Cooper Group from $94.00 to $103.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, Keefe, Bruyette & Woods cut Mr. Cooper Group from an “outperform” rating to a “market perform” rating and set a $95.00 target price on the stock. in a research report on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $91.88.

Mr. Cooper Group Stock Performance

NASDAQ:COOP traded down $0.58 during mid-day trading on Friday, hitting $90.14. 402,354 shares of the company’s stock traded hands, compared to its average volume of 453,445. The company has a fifty day moving average of $84.54 and a 200 day moving average of $79.22. Mr. Cooper Group has a twelve month low of $52.46 and a twelve month high of $95.74. The company has a market capitalization of $5.81 billion, a P/E 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 for the quarter, topping analysts’ consensus estimates of $2.33 by $0.19. The business had revenue of $583.00 million for the quarter, compared to analyst estimates of $552.09 million. Mr. Cooper Group had a return on equity of 14.10% and a net margin of 33.22%. The company’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.66 earnings per share. On average, research analysts expect that Mr. Cooper Group will post 9.85 earnings per share 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 firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $81.42, for a total value of $2,035,500.00. Following the completion of the sale, the chief executive officer now owns 284,631 shares of the company’s stock, valued at $23,174,656.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.33% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Mr. Cooper Group by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 7,668,898 shares of the company’s stock valued at $597,791,000 after acquiring an additional 42,860 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Mr. Cooper Group by 1.5% during the fourth quarter. Wellington Management Group LLP now owns 1,714,900 shares of the company’s stock worth $111,674,000 after purchasing an additional 25,351 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Mr. Cooper Group by 5.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 768,848 shares of the company’s stock valued at $50,067,000 after buying an additional 37,823 shares during the last quarter. Norges Bank acquired a new position in Mr. Cooper Group in the 4th quarter worth approximately $47,104,000. Finally, Goldman Sachs Group Inc. raised its position in Mr. Cooper Group by 198.6% during the 4th 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. Institutional investors and hedge funds own 89.82% of the company’s stock.

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.