Nationstar Mortgage Holdings Inc. (NSM) Sees Strong Trading Volume
Shares of Nationstar Mortgage Holdings Inc. (NYSE:NSM) saw an uptick in trading volume on Friday . 772,272 shares were traded during trading, an increase of 44% from the previous session’s volume of 535,816 shares.The stock last traded at $12.57 and had previously closed at $12.44.
A number of brokerages have recently issued reports on NSM. FBR & Co lowered their price target on Nationstar Mortgage Holdings from $15.00 to $10.00 and set a “hold” rating on the stock in a report on Tuesday, May 3rd. Zacks Investment Research downgraded Nationstar Mortgage Holdings from a “strong-buy” rating to a “hold” rating in a report on Friday, May 6th. Finally, Credit Suisse Group AG reaffirmed an “outperform” rating on shares of Nationstar Mortgage Holdings in a report on Wednesday, July 6th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $15.71.
The company’s market capitalization is $1.30 billion. The company has a 50 day moving average price of $11.61 and a 200 day moving average price of $11.18.
Nationstar Mortgage Holdings (NYSE:NSM) last announced its quarterly earnings results on Wednesday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by $0.08. During the same quarter in the previous year, the company earned ($0.53) EPS. The firm earned $345.50 million during the quarter, compared to analyst estimates of $353.90 million. The company’s revenue for the quarter was down 31.0% on a year-over-year basis. On average, equities analysts expect that Nationstar Mortgage Holdings Inc. will post $1.28 EPS for the current year.
Several hedge funds and institutional investors recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its position in shares of Nationstar Mortgage Holdings by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 146,252 shares of the company’s stock worth $1,955,000 after buying an additional 7,561 shares in the last quarter. Whitebox Advisors LLC increased its position in shares of Nationstar Mortgage Holdings by 12.5% in the fourth quarter. Whitebox Advisors LLC now owns 578,917 shares of the company’s stock valued at $7,740,000 after buying an additional 64,399 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its position in shares of Nationstar Mortgage Holdings by 16.7% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 6,200,177 shares of the company’s stock valued at $82,896,000 after buying an additional 887,702 shares during the period.
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 also operate an integrated residential loan origination platform that is primarily focused on customer retention.
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