Mr. Cooper Group Inc. (NASDAQ:COOP) Sees Significant Growth in Short Interest

Mr. Cooper Group Inc. (NASDAQ:COOP - Get Free Report) was the recipient of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 1,800,000 shares, an increase of 5.3% from the November 15th total of 1,710,000 shares. Based on an average daily trading volume, of 472,600 shares, the short-interest ratio is currently 3.8 days. Approximately 2.9% of the shares of the stock are short sold.

Mr. Cooper Group Stock Performance

COOP traded up $1.39 during midday trading on Monday, hitting $98.23. The stock had a trading volume of 599,477 shares, compared to its average volume of 446,238. The company has a market cap of $6.28 billion, a P/E ratio of 12.69 and a beta of 1.41. Mr. Cooper Group has a 1 year low of $61.38 and a 1 year high of $103.05. The business has a fifty day moving average of $95.45 and a 200 day moving average of $90.12.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last released its earnings results on Wednesday, October 23rd. The company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.54 by $0.30. Mr. Cooper Group had a net margin of 25.87% and a return on equity of 13.77%. The company had revenue of $616.00 million for the quarter, compared to analyst estimates of $548.09 million. During the same quarter last year, the firm earned $2.79 EPS. The firm's quarterly revenue was up 32.8% compared to the same quarter last year. On average, equities research analysts anticipate 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 firm's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $97.58, for a total value of $2,927,400.00. Following the completion of the transaction, the chief executive officer now directly owns 788,821 shares of the company's stock, valued at $76,973,153.18. This trade represents a 3.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.33% of the company's stock.

Institutional Investors Weigh In On Mr. Cooper Group

Several institutional investors have recently bought and sold shares of COOP. LSV Asset Management lifted its position in Mr. Cooper Group by 249.2% in the second quarter. LSV Asset Management now owns 633,260 shares of the company's stock valued at $51,440,000 after purchasing an additional 451,926 shares during the last quarter. Hantz Financial Services Inc. purchased a new stake in Mr. Cooper Group during the 2nd quarter valued at $21,609,000. FMR LLC increased its position in shares of Mr. Cooper Group by 42.9% in the third quarter. FMR LLC now owns 485,907 shares of the company's stock valued at $44,791,000 after acquiring an additional 145,767 shares during the period. Basswood Capital Management L.L.C. increased its position in shares of Mr. Cooper Group by 36.6% in the third quarter. Basswood Capital Management L.L.C. now owns 496,243 shares of the company's stock valued at $45,744,000 after acquiring an additional 132,970 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Mr. Cooper Group by 11.1% during the third quarter. Assenagon Asset Management S.A. now owns 1,247,434 shares of the company's stock worth $114,988,000 after purchasing an additional 125,055 shares during the period. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on COOP shares. Wedbush restated an "outperform" rating and set a $115.00 target price on shares of Mr. Cooper Group in a research report on Thursday, October 24th. 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. Finally, Compass Point upped their price objective on shares of Mr. Cooper Group from $97.00 to $110.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Mr. Cooper Group currently has an average rating of "Moderate Buy" and an average price target of $100.57.

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.