Short Interest in Mr. Cooper Group Inc. (NASDAQ:COOP) Drops By 9.9%

Mr. Cooper Group Inc. (NASDAQ:COOP - Get Free Report) was the recipient of a large decrease in short interest during the month of October. As of October 15th, there was short interest totalling 1,460,000 shares, a decrease of 9.9% from the September 30th total of 1,620,000 shares. Currently, 2.4% of the shares of the stock are sold short. Based on an average trading volume of 437,200 shares, the short-interest ratio is currently 3.3 days.

Mr. Cooper Group Price Performance

NASDAQ COOP traded up $0.62 during mid-day trading on Wednesday, hitting $91.78. The company's stock had a trading volume of 25,523 shares, compared to its average volume of 444,817. Mr. Cooper Group has a 52-week low of $54.07 and a 52-week high of $97.35. The stock's fifty day simple moving average is $92.00 and its two-hundred day simple moving average is $86.30. The firm has a market capitalization of $5.87 billion, a P/E ratio of 9.55 and a beta of 1.40.

Mr. Cooper Group (NASDAQ:COOP - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $2.84 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $616.00 million during the quarter, compared to analysts' expectations of $548.09 million. During the same period in the prior year, the company earned $2.79 EPS. The firm's revenue was up 32.8% on a year-over-year basis. On average, equities analysts forecast that Mr. Cooper Group will post 10.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

COOP has been the subject of several recent research reports. Barclays raised their price target on Mr. Cooper Group from $103.00 to $108.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 8th. Compass Point raised their target price 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. Keefe, Bruyette & Woods lowered Mr. Cooper Group from an "outperform" rating to a "market perform" rating and set a $95.00 target price for the company. in a research note on Monday, July 22nd. Piper Sandler raised their price target on Mr. Cooper Group from $91.00 to $106.00 and gave the stock an "overweight" rating in a research note on Friday, July 26th. Finally, Wedbush reaffirmed an "outperform" rating and set a $115.00 price objective on shares of Mr. Cooper Group in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Mr. Cooper Group presently has an average rating of "Moderate Buy" and an average target price of $98.00.

Institutional Investors Weigh In On Mr. Cooper Group

Several hedge funds have recently modified their holdings of COOP. Precision Wealth Strategies LLC purchased a new stake in shares of Mr. Cooper Group during the first quarter valued at approximately $229,000. Janney Capital Management LLC acquired a new position in Mr. Cooper Group in the 1st quarter worth $365,000. Capstone Investment Advisors LLC acquired a new position in Mr. Cooper Group in the 1st quarter worth $472,000. Fidelis Capital Partners LLC acquired a new stake in shares of Mr. Cooper Group during the first quarter valued at about $85,000. Finally, LSV Asset Management increased its position in shares of Mr. Cooper Group by 36.3% during the first quarter. LSV Asset Management now owns 181,334 shares of the company's stock worth $14,135,000 after acquiring an additional 48,334 shares during the last quarter. 89.82% of the stock is currently owned by hedge funds and other institutional investors.

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.

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