Convergence Investment Partners LLC increased its stake in Nationstar Mortgage Holdings Inc. (NYSE:NSM) by 25.6% during the second quarter, Holdings Channel reports. The fund owned 68,490 shares of the financial services provider’s stock after buying an additional 13,974 shares during the period. Convergence Investment Partners LLC’s holdings in Nationstar Mortgage Holdings were worth $1,225,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. American Century Companies Inc. bought a new position in shares of Nationstar Mortgage Holdings during the first quarter valued at approximately $1,557,000. First Trust Advisors LP bought a new position in shares of Nationstar Mortgage Holdings during the first quarter valued at approximately $445,000. LSV Asset Management bought a new position in shares of Nationstar Mortgage Holdings during the first quarter valued at approximately $1,029,000. Wells Fargo & Company MN increased its position in shares of Nationstar Mortgage Holdings by 208.6% in the first quarter. Wells Fargo & Company MN now owns 136,004 shares of the financial services provider’s stock valued at $2,143,000 after buying an additional 91,933 shares during the last quarter. Finally, Rubric Capital Management LP increased its position in shares of Nationstar Mortgage Holdings by 13.8% in the first quarter. Rubric Capital Management LP now owns 1,109,540 shares of the financial services provider’s stock valued at $17,486,000 after buying an additional 134,540 shares during the last quarter. 98.36% of the stock is currently owned by hedge funds and other institutional investors.

Nationstar Mortgage Holdings Inc. (NSM) opened at 17.14 on Wednesday. The stock has a 50 day moving average price of $17.84 and a 200-day moving average price of $17.32. Nationstar Mortgage Holdings Inc. has a 52 week low of $14.05 and a 52 week high of $19.83. The firm has a market capitalization of $1.68 billion, a P/E ratio of 7.50 and a beta of 1.47.

Nationstar Mortgage Holdings (NYSE:NSM) last posted its earnings results on Thursday, August 3rd. The financial services provider reported $0.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.09. The company 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 period in the prior year, the business posted $0.52 earnings per share. Analysts anticipate that Nationstar Mortgage Holdings Inc. will post $1.28 EPS for the current fiscal year.

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Several research analysts have commented on the company. Zacks Investment Research raised Nationstar Mortgage Holdings from a “sell” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Thursday, July 20th. BidaskClub raised Nationstar Mortgage Holdings from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. TheStreet raised Nationstar Mortgage Holdings from a “d+” rating to a “c-” rating in a report on Monday, June 26th. Piper Jaffray Companies reaffirmed a “sell” rating and set a $15.00 target price on shares of Nationstar Mortgage Holdings in a report on Thursday, August 3rd. Finally, ValuEngine raised Nationstar Mortgage Holdings from a “buy” rating to a “strong-buy” rating in a report on Friday, June 2nd. Three investment analysts have rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus 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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Institutional Ownership by Quarter for Nationstar Mortgage Holdings (NYSE:NSM)

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