Mr. Cooper Group Inc. (NASDAQ:COOP) Short Interest Up 20.4% in November

Mr. Cooper Group Inc. (NASDAQ:COOP) was the target of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 1,710,000 shares, an increase of 20.4% from the October 31st total of 1,420,000 shares. Approximately 2.8% of the shares of the company are short sold. Based on an average daily volume of 463,300 shares, the short-interest ratio is currently 3.7 days.

Mr. Cooper Group Trading Down 1.2 %

Shares of COOP opened at $97.44 on Tuesday. Mr. Cooper Group has a 12-month low of $61.38 and a 12-month high of $103.05. The company has a market cap of $6.23 billion, a PE ratio of 12.67 and a beta of 1.41. The stock has a 50-day moving average price of $94.29 and a 200-day moving average price of $89.08.

Mr. Cooper Group (NASDAQ:COOP) last released 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. The business had revenue of $616.00 million during the quarter, compared to analysts’ expectations of $548.09 million. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%. The business’s quarterly revenue was up 32.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.79 EPS. As a group, analysts predict that Mr. Cooper Group will post 10.16 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have issued reports on COOP. Wedbush reaffirmed an “outperform” rating and issued a $115.00 price target on shares of Mr. Cooper Group in a report on Thursday, October 24th. Compass Point raised their target price on Mr. Cooper Group from $97.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Barclays upped their price target on Mr. Cooper Group from $103.00 to $108.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Mr. Cooper Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.00.

Insider Activity at Mr. Cooper Group

In related news, CEO Jesse K. Bray sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $88.41, for a total transaction of $2,652,300.00. Following the sale, the chief executive officer now directly owns 818,821 shares in the company, valued at approximately $72,391,964.61. This represents a 3.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in shares of Mr. Cooper Group by 6.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 916,365 shares of the company’s stock valued at $84,471,000 after purchasing an additional 52,001 shares during the last quarter. Cynosure Group LLC purchased a new position in shares of Mr. Cooper Group during the third quarter worth approximately $730,000. Los Angeles Capital Management LLC lifted its holdings in shares of Mr. Cooper Group by 50.7% in the 3rd quarter. Los Angeles Capital Management LLC now owns 32,592 shares of the company’s stock worth $3,004,000 after acquiring an additional 10,964 shares during the last quarter. Waterfall Asset Management LLC bought a new stake in shares of Mr. Cooper Group in the 2nd quarter worth approximately $809,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Mr. Cooper Group in the 2nd quarter valued at $626,000. Institutional investors 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.