Professional
Added to YB: 2021-02-15
Pitch date: 2021-02-15
COOP [bullish]
Mr. Cooper Group Inc.
+603.45%
current return
Author Info
Voss Capital is a hedge fund looking for value-oriented special situations. Sign up for the newsletter.
Company Info
Mr. Cooper Group Inc., together with its subsidiaries, operates as a non-bank servicer of residential mortgage loans in the United States.
Market Cap
$13.5B
Pitch Price
$29.96
Price Target
N/A
Dividend
N/A
EV/EBITDA
12.69
P/E
24.08
EV/Sales
11.06
Sector
Financial Services
Category
N/A
Voss Capital q4 2020 letter - Mr. Cooper (COOP)
COOP: Trading at 6x NTM earnings, <1x NTM tangible book. Natural hedges: mortgage servicing (rates ↑), refinancing/originations (rates ↓), Xome (foreclosures ↑). Thesis: 1) Refinancing continues, boosting book value. 2) Xome sale for ~$1B. Post-Aug flexibility for buybacks/dividends due to NOLs. >35% upside in 6 months. Risks: market perception, sale execution.
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