NMI Holdings, Inc. (NASDAQ:NMIH) Short Interest Update

NMI Holdings, Inc. (NASDAQ:NMIH) was the target of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 650,400 shares, a decrease of 36.9% from the August 15th total of 1,030,000 shares. Based on an average daily volume of 423,300 shares, the short-interest ratio is currently 1.5 days. Approximately 0.8% of the shares of the company are short sold.

NMI Price Performance

Shares of NASDAQ NMIH opened at $28.11 on Friday. NMI has a fifty-two week low of $19.02 and a fifty-two week high of $30.14. The company has a 50 day simple moving average of $27.96 and a two-hundred day simple moving average of $25.24. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 7.83 and a beta of 1.18. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.65.

NMI (NASDAQ:NMIH) last announced its earnings results on Tuesday, August 1st. The financial services provider reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.08. The business had revenue of $142.70 million during the quarter, compared to the consensus estimate of $123.95 million. NMI had a net margin of 56.07% and a return on equity of 18.47%. The business’s revenue for the quarter was up 7.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 earnings per share. Analysts expect that NMI will post 3.68 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on NMIH shares. JPMorgan Chase & Co. increased their target price on NMI from $31.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 2nd. Compass Point upped their price target on shares of NMI from $30.00 to $31.00 in a report on Wednesday, August 2nd. StockNews.com assumed coverage on shares of NMI in a report on Thursday, August 17th. They issued a “buy” rating on the stock. Truist Financial increased their target price on NMI from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Finally, Citigroup increased their target price on NMI from $28.00 to $33.00 and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.75.

Insider Activity at NMI

In related news, Director James G. Jones sold 3,952 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $29.11, for a total value of $115,042.72. Following the transaction, the director now owns 118,528 shares in the company, valued at $3,450,350.08. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On NMI

A number of large investors have recently added to or reduced their stakes in NMIH. Point72 Hong Kong Ltd bought a new stake in NMI in the 1st quarter worth approximately $33,000. Quarry LP purchased a new position in shares of NMI during the 2nd quarter worth $34,000. Public Employees Retirement System of Ohio boosted its stake in shares of NMI by 45.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 2,013 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 627 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of NMI by 160.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,034 shares of the financial services provider’s stock valued at $45,000 after buying an additional 1,252 shares in the last quarter. Finally, Bessemer Group Inc. purchased a new position in shares of NMI during the 1st quarter valued at $46,000. Institutional investors own 94.12% of the company’s stock.

About NMI

NMI Holdings, Inc provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance services, such as primary and pool insurance; and outsourced loan review services to mortgage loan originators. It serves national and regional mortgage banks, money center banks, credit unions, community banks, builder-owned mortgage lenders, internet-sourced lenders, and other non-bank lenders.