The Bottom Contributor of Diamond Hill Capital: Mr. Cooper Group (COOP)

Diamond Hill Capital, an investment advisor, released its “All Cap Select Strategy” second quarter 2022 investor letter. A copy of the same can be downloaded here. The fund performed on par with the Russell 3000 Index in the second quarter. The technology sector and consumer staples contributed positively to the fund’s performance in the quarter, while consumer discretionary and industrials sectors underperformed. In addition, you can check the top 5 holdings of the fund to know its best choices in 2022.

Diamond Hill Capital discussed stocks like Mr. Cooper Group Inc. (NASDAQ:COOP) in the second quarter 2022 investor letter. Based in Coppell, Texas, Mr. Cooper Group Inc. (NASDAQ:COOP) is a servicing, organization, and transaction-based services provider. On October 3, 2022, Mr. Cooper Group Inc. (NASDAQ:COOP) stock closed at $41.69 per share. One-month return of Mr. Cooper Group Inc. (NASDAQ:COOP) was 3.94%, and its shares gained 1.02% of their value over the last 52 weeks. Mr. Cooper Group Inc. (NASDAQ:COOP) has a market capitalization of $2.987 billion.

Here is what Diamond Hill Capital specifically said about Mr. Cooper Group Inc. (NASDAQ:COOP) in its Q2 2022 investor letter:

"Also among our bottom contributors were mortgage servicing company Mr. Cooper Group Inc. (NASDAQ:COOP) and WESCO International, a leading distributor of electrical, industrial and communications materials and provider of supply chain management and logistics services. Rapidly rising interest rates in Q2 pushed mortgage rates higher, raising concerns about headwinds for the mortgage industry. Unlike peers, Mr. Cooper has a more balanced business model between mortgage origination and servicing, which should help its business from a fundamental perspective in this environment."

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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 growth stocks that hedge funds love. In addition, please check out our hedge fund investor letters Q2 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.