Rubric Capital Management LP lowered its position in Nationstar Mortgage Holdings Inc. (NYSE:NSM) by 27.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 804,637 shares of the financial services provider’s stock after selling 304,903 shares during the period. Nationstar Mortgage Holdings accounts for about 3.0% of Rubric Capital Management LP’s portfolio, making the stock its 10th largest position. Rubric Capital Management LP owned about 0.82% of Nationstar Mortgage Holdings worth $14,395,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in NSM. Convergence Investment Partners LLC increased its position in Nationstar Mortgage Holdings by 25.6% in the second quarter. Convergence Investment Partners LLC now owns 68,490 shares of the financial services provider’s stock worth $1,225,000 after buying an additional 13,974 shares during the last quarter. First Trust Advisors LP increased its position in Nationstar Mortgage Holdings by 61.1% in the second quarter. First Trust Advisors LP now owns 45,496 shares of the financial services provider’s stock worth $814,000 after buying an additional 17,255 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in Nationstar Mortgage Holdings by 1.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 154,165 shares of the financial services provider’s stock worth $2,759,000 after buying an additional 1,751 shares during the last quarter. Prescott Group Capital Management L.L.C. acquired a new position in Nationstar Mortgage Holdings during the second quarter worth approximately $1,342,000. Finally, Ranger Global Real Estate Advisors LLC acquired a new position in Nationstar Mortgage Holdings during the first quarter worth approximately $2,556,000. 99.49% of the stock is owned by institutional investors.
Shares of Nationstar Mortgage Holdings Inc. (NYSE NSM) opened at 16.83 on Friday. The stock’s 50 day moving average is $17.89 and its 200 day moving average is $17.34. Nationstar Mortgage Holdings Inc. has a 12 month low of $14.05 and a 12 month high of $19.83. The firm has a market cap of $1.65 billion, a PE ratio of 7.36 and a beta of 1.47.
Nationstar Mortgage Holdings (NYSE:NSM) last issued its quarterly earnings data on Thursday, August 3rd. The financial services provider reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.09. The business had revenue of $380 million during the quarter, compared to analyst estimates of $506.30 million. Nationstar Mortgage Holdings had a net margin of 10.52% and a return on equity of 9.64%. During the same quarter last year, the business earned $0.52 EPS. Analysts forecast that Nationstar Mortgage Holdings Inc. will post $1.28 EPS for the current fiscal year.
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Several equities analysts recently issued reports on the stock. BidaskClub downgraded shares of Nationstar Mortgage Holdings from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Piper Jaffray Companies reissued a “sell” rating and set a $15.00 price target on shares of Nationstar Mortgage Holdings in a report on Thursday, August 3rd. Zacks Investment Research downgraded shares of Nationstar Mortgage Holdings from a “buy” rating to a “hold” rating in a report on Friday, July 28th. TheStreet raised shares of Nationstar Mortgage Holdings from a “d+” rating to a “c-” rating in a report on Monday, June 26th. Finally, ValuEngine raised shares of Nationstar Mortgage Holdings from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Nationstar Mortgage Holdings has a consensus rating of “Hold” and an average target price of $18.50.
About Nationstar Mortgage Holdings
Nationstar Mortgage Holdings Inc provides servicing, origination and transaction based services principally to single-family residences throughout the United States. The Company operates through three segments: Servicing, Originations and Xome. The Company provides residential loan services in the United States.
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