Kyle Bass, Hayman Advisors Up Their Stake In Nationstar Mortgage Holdings Inc (NSM)

Kyle Bass, the manager of Hayman Advisors, is optimistic about the prospects of Nationstar Mortgage Holdings Inc (NYSE:NSM). According to a recent filing with the Securities and Exchange Commission, Hayman Advisors has increased its holding of the stock by 338% to 4.76 million shares. The current position accounts for 5.3% of the company’s common stock and, given the current price of $32.50 per share, Bass’ stake has an approximate value of $154 million.

Kyle Bass

Michael Novogratz is a huge fan of Nationstar Mortgage Holdings Inc (NYSE:NSM). His fund, Fortress Investment, holds 67.8 million shares worth approximately $2.5 billion, according to its latest 13F report. This position accounts for 38.36% of the fund’s equity portfolio. William B. Gray has also decided to up his fund’s stake in Nationstar Mortgage Holdings during the previous quarter. Orbis Investment Management currently holds 4.6 million shares valued at $172 million.

A provider of non-bank residential mortgage services, Nationstar Mortgage Holdings Inc (NYSE:NSM) has a market cap of $2.83 billion and does not pay a dividend. So far this year, the stock has fallen 11%, as it has entered a downtrend in September 2013. The shares are changing hands at a trailing Price to Earnings (P/E) ratio of 13.xx, significantly lower than the industry average of 33.10. For the three months ending December 31, 2013,  Nationstar Mortgage Holdings Inc (NYSE:NSM) posted revenues of $420 million and a loss per diluted share of $0.56.

Kyle Bass seems to be a fan of financial companies specialized in mortgage products. Among Hayman Advisors’s top positions one can find PennyMac Mortgage Investment Trust (NYSE:PMT), a company that invests in mortgage-related assets, and NMI Holdings Inc (NASDAQ:NMIH), a provider of private mortgage insurance. The hedge fund holds 3.57 million PennyMac shares valued at $81.9 million and approximately 5.5 million shares of NMI Holdings, which are reportedly worth $69.9 million.

Disclosure: none.

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