Mr. Cooper Group Inc. (NASDAQ:COOP) Short Interest Update

Mr. Cooper Group Inc. (NASDAQ:COOP - Get Free Report) was the recipient 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. Based on an average daily trading volume, of 463,300 shares, the short-interest ratio is currently 3.7 days. Approximately 2.8% of the company's stock are sold short.

Insiders Place Their Bets

In other news, CEO Jesse K. Bray sold 30,000 shares of Mr. Cooper Group stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 818,821 shares in the company, valued at $72,391,964.61. This trade represents a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.33% of the company's stock.

Institutional Investors Weigh In On Mr. Cooper Group

Several large investors have recently modified their holdings of COOP. Blue Trust Inc. grew its holdings in Mr. Cooper Group by 77.1% during the second 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 grew its stake in shares of Mr. Cooper Group by 8,275.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 335 shares of the company's stock worth $27,000 after acquiring an additional 331 shares during the period. Quarry LP purchased a new stake in Mr. Cooper Group in the 2nd quarter worth about $29,000. Financial Management Professionals Inc. bought a new stake in Mr. Cooper Group in the 3rd quarter valued at 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 valued at $41,000 after acquiring an additional 270 shares during the period. Hedge funds and other institutional investors own 89.82% of the company's stock.

Analysts Set New Price Targets

COOP has been the subject of a number of recent research reports. Barclays boosted their price objective on Mr. Cooper Group from $103.00 to $108.00 and gave the stock an "overweight" rating in a report on Tuesday, October 8th. Compass Point increased their price target on Mr. Cooper Group from $97.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Finally, Wedbush reaffirmed an "outperform" rating and set a $115.00 price objective on shares of Mr. Cooper Group in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $98.00.

Mr. Cooper Group Stock Performance

NASDAQ:COOP traded up $0.34 during trading on Friday, reaching $98.67. The company's stock had a trading volume of 241,180 shares, compared to its average volume of 483,208. Mr. Cooper Group has a 12 month low of $60.01 and a 12 month high of $103.05. The firm has a market cap of $6.31 billion, a price-to-earnings ratio of 12.75 and a beta of 1.40. The firm has a 50 day moving average of $94.29 and a 200-day moving average of $89.04.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.30. The company had revenue of $616.00 million during the quarter, compared to analyst estimates of $548.09 million. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%. The firm's revenue for the quarter was up 32.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.79 earnings per share. Equities research analysts forecast that Mr. Cooper Group will post 10.16 earnings per share for the current fiscal year.

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.