Home > Boards > US Listed > Banking and Finance > Mr. Cooper Group, Inc. (COOP)

Starting with August 1st, COOP can buy back

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
JusticeWillWin Member Profile
 
Followed By 64
Posts 6,480
Boards Moderated 0
Alias Born 06/05/14
160x600 placeholder
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 1/21/2022 4:16:57 PM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 12/22/2021 4:05:11 PM
Mr. Cooper Completes Sale of Reverse Servicing Portfolio Business Wire - 12/2/2021 8:00:00 AM
Mr. Cooper Group provides Q4 Guidance Seeking Alpha - 12/1/2021 10:06:53 AM
Current Report Filing (8-k) Edgar (US Regulatory) - 12/1/2021 9:01:11 AM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 11/29/2021 4:08:14 PM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 11/24/2021 4:23:31 PM
Current Report Filing (8-k) Edgar (US Regulatory) - 11/4/2021 4:22:06 PM
Current Report Filing (8-k) Edgar (US Regulatory) - 11/2/2021 6:02:42 AM
Mr. Cooper prices $600M of debt offering Seeking Alpha - 11/2/2021 3:57:37 AM
Mr. Cooper Group Inc. Announces Pricing of Offering of $600 Million of Senior Notes Business Wire - 11/1/2021 6:15:00 PM
Star Alliance Intl. Corp. (OTC Pink: STAL) Recent Gold Mine Acquisition NI43-101 InvestorsHub NewsWire - 10/29/2021 7:08:34 AM
Quarterly Report (10-q) Edgar (US Regulatory) - 10/28/2021 10:57:59 AM
Mr. Cooper EPS beats by $1.54, beats on revenue Seeking Alpha - 10/28/2021 7:12:49 AM
Current Report Filing (8-k) Edgar (US Regulatory) - 10/28/2021 7:01:29 AM
Mr. Cooper Group Reports Third Quarter 2021 Results Business Wire - 10/28/2021 7:00:00 AM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 10/22/2021 4:19:25 PM
PJET Signals BUY InvestorsHub NewsWire - 10/11/2021 9:12:06 AM
Mr. Cooper Group Inc. to Discuss Third Quarter 2021 Financial Results on October 28, 2021 Business Wire - 10/7/2021 5:54:00 PM
Mr. Cooper Group Recognized as a Great Place to Work Business Wire - 10/6/2021 9:00:00 AM
CEO Presenting on the Emerging Growth Conference on September 29  Register Now InvestorsHub NewsWire - 9/28/2021 8:00:00 AM
Mr. Cooper Announces Sale of Xome Field Services Business Wire - 9/20/2021 9:00:00 AM
Current Report Filing (8-k) Edgar (US Regulatory) - 9/16/2021 6:07:01 AM
Mr. Cooper Group Inc. to Present at the Barclays Global Financial Services Conference Business Wire - 9/9/2021 7:04:00 PM
Statement of Changes in Beneficial Ownership (4) Edgar (US Regulatory) - 9/3/2021 6:03:31 PM
JusticeWillWin   Wednesday, 06/23/21 03:39:24 PM
Re: None
Post # of 676434 
Starting with August 1st, COOP can buy back up to 50% of the currently ~86 million outstanding shares

COOP already repurchased shares for ~$206 million (Q3 2020, Q4 2020 and Q1 2021 combined)

There are only $3.8 million left to buy back more shares until the end of July!

BUT from August 1st, NOL restrictions will be lifted and COOP can buy back up to 50% of the outstanding shares according to the Q4 earnings call!

They have a lot of cash on hands, and the $500 million Title365 sale will add ~$400 million to COOP's balance sheet in in Q2, so they can start a more aggressive buyback on August 1.

And at the Q1 earnings call Chris Marshall (CFO) said:
Quote:
[...]Those things all say the stock could be well into the '40s. So if we're sitting here with a lot of cash toward the end of the year and the stock that's trading where it is now, it seems to be a no-brainer that we want to buy back our shares in a much higher level just given where tangible book is.



IMO they will not have enough cash to buy back 43 million(!) shares all at once, but with the $672 million in CASH at the end of Q1 and the $400 million from the Title365 sale (and they said they need to keep ~$200 for operating the business) they could use up to $800 million to buy back up to 24 million shares at current PPS

All IMO!

======> JUST MY PERSONAL OPINION, NO INVESTMENT ADVICE!
======> I am long COOP, FNMA, FMCC
======> #ShareholderRightsMatter

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist
Consent Preferences