Mr Cooper Group Inc (COOP)

[JusticeWillWin]

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:

[...]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!