What Makes Mr. Cooper Group (COOP) an Attractive Investment Option Now?

Bernzott Capital Advisors, an investment management firm, published its “US Small Cap Value Fund” second-quarter 2023 investor letter, a copy of which can be downloaded here. In the second quarter, the portfolio gained +1.7% (net) lagging behind R2000V’s +3.2% gain and R2500V’s +4.4% increase. In the quarter, quality factors were under pressure. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Bernzott Capital Advisors highlighted stocks like Mr. Cooper Group Inc. (NASDAQ:COOP) in the second quarter 2023 investor letter. Headquartered in Coppell, Texas. Mr. Cooper Group Inc. (NASDAQ:COOP) provides residential loan services. On July 20, 2023, Mr. Cooper Group Inc. (NASDAQ:COOP) stock closed at $54.54 per share. One-month return of Mr. Cooper Group Inc. (NASDAQ:COOP) was 11.24%, and its shares gained 32.51% of their value over the last 52 weeks. Mr. Cooper Group Inc. (NASDAQ:COOP) has a market capitalization of $3.712 billion.

Bernzott Capital Advisors made the following comment about Mr. Cooper Group Inc. (NASDAQ:COOP) in its second quarter 2023 investor letter:

Mr. Cooper Group Inc. (NASDAQ:COOP: COOP is one of the largest mortgage servicing providers in the US. Rising residential mortgage rates benefit COOP by extending servicing duration – it’s highly unlikely a low-rate mortgage will refinance to a higher rate mortgage, which helps generate tremendous free cash flow for the company. Currently trading at an inexpensive valuation, COOP has repurchased nearly 25% of its outstanding shares, dropping the share count from ~91 million to under ~70 million.”

Mr. Cooper Group Inc. (NASDAQ:COOP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 29 hedge fund portfolios held Mr. Cooper Group Inc. (NASDAQ:COOP) at the end of first quarter 2023 which was 30 in the previous quarter.

We discussed Mr. Cooper Group Inc. (NASDAQ:COOP) in another article and shared billionaire Michael Platt‘s top stock picks. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

Disclosure: None. This article is originally published at Insider Monkey.