Short Interest in Mr. Cooper Group Inc. (NASDAQ:COOP) Decreases By 10.2%

Mr. Cooper Group Inc. (NASDAQ:COOP) was the target of a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 1,320,000 shares, a drop of 10.2% from the May 15th total of 1,470,000 shares. Currently, 2.1% of the company’s stock are short sold. Based on an average daily trading volume, of 396,600 shares, the days-to-cover ratio is presently 3.3 days.

Insider Activity

In other news, CEO Jesse K. Bray sold 25,000 shares of Mr. Cooper Group stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $78.79, for a total value of $1,969,750.00. Following the completion of the transaction, the chief executive officer now owns 309,631 shares in the company, valued at approximately $24,395,826.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Mr. Cooper Group news, CEO Jesse K. Bray sold 25,000 shares of Mr. Cooper Group stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $78.79, for a total transaction of $1,969,750.00. Following the transaction, the chief executive officer now owns 309,631 shares of the company’s stock, valued at $24,395,826.49. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael R. Rawls sold 27,000 shares of Mr. Cooper Group stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $82.18, for a total value of $2,218,860.00. Following the transaction, the chief executive officer now directly owns 57,623 shares in the company, valued at approximately $4,735,458.14. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,000 shares of company stock worth $8,176,360. 2.33% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Mr. Cooper Group

Institutional investors and hedge funds have recently modified their holdings of the stock. USA Financial Formulas purchased a new position in Mr. Cooper Group in the fourth quarter valued at about $25,000. GAMMA Investing LLC purchased a new position in Mr. Cooper Group in the fourth quarter valued at about $61,000. Quest Partners LLC purchased a new position in Mr. Cooper Group in the fourth quarter valued at about $61,000. Fidelis Capital Partners LLC purchased a new position in Mr. Cooper Group in the first quarter valued at about $85,000. Finally, Bessemer Group Inc. boosted its holdings in Mr. Cooper Group by 2,483.1% in the first quarter. Bessemer Group Inc. now owns 1,524 shares of the company’s stock valued at $119,000 after purchasing an additional 1,465 shares during the last quarter. Hedge funds and other institutional investors own 89.82% of the company’s stock.

Wall Street Analysts Forecast Growth

COOP has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $92.00 target price (up previously from $86.00) on shares of Mr. Cooper Group in a report on Thursday, April 25th. Barclays upped their price objective on Mr. Cooper Group from $85.00 to $94.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Wedbush upped their price objective on Mr. Cooper Group from $85.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft upped their target price on Mr. Cooper Group from $88.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Finally, Jefferies Financial Group upped their target price on Mr. Cooper Group from $74.00 to $80.00 and gave the company a “hold” rating in a research note on Friday, April 19th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Mr. Cooper Group currently has a consensus rating of “Moderate Buy” and an average price target of $85.13.

Mr. Cooper Group Trading Down 1.0 %

NASDAQ:COOP traded down $0.86 on Tuesday, hitting $81.84. 376,817 shares of the stock were exchanged, compared to its average volume of 438,778. Mr. Cooper Group has a fifty-two week low of $48.01 and a fifty-two week high of $85.17. The stock has a fifty day moving average of $80.74 and a 200-day moving average of $73.18. The stock has a market cap of $5.30 billion, a PE ratio of 8.57 and a beta of 1.38.

Mr. Cooper Group (NASDAQ:COOP) last issued its earnings results on Wednesday, April 24th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.11 by $0.17. Mr. Cooper Group had a return on equity of 13.31% and a net margin of 31.75%. The company had revenue of $564.00 million during the quarter, compared to the consensus estimate of $498.15 million. As a group, analysts predict that Mr. Cooper Group will post 9.48 earnings per share for the current 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.