Why Shares of Home Point Capital Are Surging Today
Shares of the mortgage servicing company Home Point Capital (NASDAQ: HMPT) traded roughly 18.3% higher as of 12:24 p.m. ET today after the company announced that it will be acquired by Mr. Cooper Group (NASDAQ: COOP), which itself traded close to 5% higher today.
Home Point and Mr. Cooper Group announced in a joint statement that Mr. Cooper Group will acquire Home Point for $324 million in cash and also assume $500 million in senior notes due February 2026.
Mr. Cooper Group plans to shut down Home Point's operations after adding the company's customers, and the deal is expected to close in the third quarter of this year.
Source Fool.com
Cooper Companies Inc. Stock
€343.00
-0.870%
With 9 Buy predictions and not the single Sell prediction the community is currently very high on Cooper Companies Inc..
On the other hand, the target price of 109 € is below the current price of 343.0 € for Cooper Companies Inc., so the potential is actually -68.22%.
