Is Mr. Cooper Group (COOP) a Good Investment Option?

Diamond Hill Capital, an investment management company, released its “All Cap Select Strategy” third-quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy returned -3.52% net of fees compared to a -4.46% return for the Russell 3000 Index. The strategy’s outperformance in the quarter was attributed to the performance of holdings in the consumer staples and financials sectors. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Diamond Hill highlighted stocks like Mr. Cooper Group Inc. (NASDAQ:COOP) in the Q3 2022 investor letter. Headquartered in Coppell, Texas. Mr. Cooper Group Inc. (NASDAQ:COOP) is a US-based loan servicing company for single-family residences. On November 15, 2022, Mr. Cooper Group Inc. (NASDAQ:COOP) stock closed at $43.53 per share. One-month return of Mr. Cooper Group Inc. (NASDAQ:COOP) was 0.46% and its shares gained 3.54% of their value over the last 52 weeks. Mr. Cooper Group Inc. (NASDAQ:COOP) has a market capitalization of $3.072 billion.

Diamond Hill made the following comment about Mr. Cooper Group Inc. (NASDAQ:COOP) in its Q3 2022 investor letter:

“On an individual holdings basis, top contributors to return included WESCO International, Mr. Cooper Group Inc. (NASDAQ:COOP) and SunOpta. Mr. Cooper is one of the largest home loan servicers in the US. The company continues to execute well in a challenging mortgage market, highlighting the importance of its balanced business model between mortgage origination and mortgage servicing.”

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Mr. Cooper Group Inc. (NASDAQ:COOP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 27 hedge fund portfolios held Mr. Cooper Group Inc. (NASDAQ:COOP) at the end of the second quarter which was 30 in the previous quarter.

We discussed Mr. Cooper Group Inc. (NASDAQ:COOP) in another article and shared the list of small-cap stocks from Ray Dalio’s Q3 2022 portfolio. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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