Nationstar Mortgage (NYSE:NSM) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Nationstar Mortgage (NYSE:NSM) from a buy rating to a hold rating in a research report sent to investors on Wednesday, January 17th.

According to Zacks, “Nationstar Mortgage Holdings, Inc. is a mortgage lender. It services loans throughout the United States and originates primarily conventional agency and government residential mortgage loans and also offers a diverse array of complementary services for mortgage investors. Nationstar Mortgage Holdings, Inc. is headquartered in Lewisville, Texas. “

A number of other equities analysts have also weighed in on the stock. ValuEngine raised shares of Nationstar Mortgage from a buy rating to a strong-buy rating in a research note on Friday, December 1st. Keefe, Bruyette & Woods reissued a hold rating and issued a $20.00 price target on shares of Nationstar Mortgage in a research note on Thursday, October 26th. Finally, Piper Jaffray Companies raised shares of Nationstar Mortgage from an underweight rating to a neutral rating in a research note on Tuesday, November 21st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Hold and a consensus price target of $18.78.

Shares of Nationstar Mortgage (NSM) traded up $0.07 during midday trading on Wednesday, hitting $16.76. 405,761 shares of the stock traded hands, compared to its average volume of 302,925. Nationstar Mortgage has a 1-year low of $14.67 and a 1-year high of $20.71. The firm has a market capitalization of $1,637.89, a price-to-earnings ratio of 8.82 and a beta of 1.22. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 6.26.

Several institutional investors have recently modified their holdings of the company. Systematic Financial Management LP acquired a new position in shares of Nationstar Mortgage in the 4th quarter valued at $1,405,000. BlackRock Inc. boosted its holdings in shares of Nationstar Mortgage by 12.7% in the 4th quarter. BlackRock Inc. now owns 2,332,392 shares of the financial services provider’s stock valued at $43,149,000 after buying an additional 263,735 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Nationstar Mortgage by 72.1% in the 4th quarter. Bank of New York Mellon Corp now owns 289,799 shares of the financial services provider’s stock valued at $5,361,000 after buying an additional 121,428 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Nationstar Mortgage by 35.4% in the 4th quarter. First Trust Advisors LP now owns 122,968 shares of the financial services provider’s stock valued at $2,275,000 after buying an additional 32,163 shares in the last quarter. Finally, ING Groep NV acquired a new position in shares of Nationstar Mortgage in the 4th quarter valued at $4,203,000. Institutional investors and hedge funds own 98.39% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This story was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this story on another website, it was illegally copied and reposted in violation of international trademark and copyright legislation. The correct version of this story can be viewed at https://ledgergazette.com/2018/02/12/nationstar-mortgage-nsm-cut-to-hold-at-zacks-investment-research.html.

Nationstar Mortgage Company Profile

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.

Get a free copy of the Zacks research report on Nationstar Mortgage (NSM)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Nationstar Mortgage (NYSE:NSM)

Receive News & Ratings for Nationstar Mortgage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nationstar Mortgage and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply