WMIH (COOP) Trading Up 6.6% on Better-Than-Expected Earnings

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WMIH Corp (NASDAQ:COOP) shares traded up 6.6% on Thursday following a better than expected earnings announcement. The stock traded as high as $15.99 and last traded at $15.32. 1,451,283 shares changed hands during mid-day trading, an increase of 472% from the average session volume of 253,764 shares. The stock had previously closed at $14.37.

The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. WMIH had a net margin of 229.44% and a return on equity of 18.07%.

A number of research analysts recently weighed in on the stock. Barclays raised shares of WMIH from an “underweight” rating to a “hold” rating and set a $18.00 target price for the company in a research report on Friday. Zacks Investment Research raised shares of WMIH from a “sell” rating to a “hold” rating in a research report on Wednesday, October 31st. Piper Jaffray Companies raised shares of WMIH from an “underweight” rating to a “neutral” rating in a research report on Tuesday, October 30th. Finally, Wedbush reissued a “buy” rating and issued a $23.00 price objective on shares of WMIH in a research report on Wednesday, October 17th.

A hedge fund recently bought a new stake in WMIH stock. Thompson Siegel & Walmsley LLC acquired a new stake in WMIH Corp (NASDAQ:COOP) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 6,859,225 shares of the company’s stock, valued at approximately $9,534,000. Thompson Siegel & Walmsley LLC owned 38.00% of WMIH at the end of the most recent reporting period.

The stock has a market cap of $259.35 million, a P/E ratio of 125.92 and a beta of -0.63.

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Mr. Cooper Group Inc provides servicing, origination, and transaction-based services related principally to single-family residences in the United States. It offers home loan servicers focused on delivering various servicing and lending products, services, and technologies. The company provides technology and data enhanced solutions to homebuyers, home sellers, real estate agents, and mortgage companies.

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