Texas-based residential loan services provider Mr Cooper Group (COOP) has signed an agreement to sell its Xome Valuations business to Canada-based real estate technology firm Voxtur Analytics for around $15 million. The sale is expected to be completed in the third quarter of 2021.

Mr Cooper offers servicing, origination and transaction-based home loan services under the brands Xome and Mr Cooper. (See Mr Cooper stock chart on TipRanks)

The Chairman and CEO of Mr. Cooper, Jay Bray, said, “This transaction is another example of how we are rationalizing and simplifying to focus on our core businesses, where we see tremendous opportunity for growth.”

On August 1, Barclays analyst Mark Devries maintained a Hold rating on the stock with a price target of $39 (2.3% upside potential). The analyst expects the company to report earnings per share (EPS) of $6.22 in the third quarter.

Overall, the stock has a Strong Buy consensus rating based on 3 Buys and 1 Hold. The average Mr Cooper Group price target of $44.75 implies 17.4% upside potential. Shares of the company have gained 106.1% over the past year.

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The post Mr Cooper to Sell Xome Valuations Business for $15M appeared first on TipRanks Financial Blog.

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By: Richika Biyani
Title: Mr Cooper to Sell Xome Valuations Business for $15M
Sourced From: blog.tipranks.com/mr-cooper-to-sell-xome-valuations-business-for-15m/
Published Date: Tue, 24 Aug 2021 13:25:20 +0000