GAMMA Investing LLC Grows Position in NMI Holdings, Inc. (NASDAQ:NMIH)

GAMMA Investing LLC raised its holdings in shares of NMI Holdings, Inc. (NASDAQ:NMIH) by 7,260.6% during the 1st quarter, Holdings Channel.com reports. The firm owned 56,382 shares of the financial services provider’s stock after acquiring an additional 55,616 shares during the quarter. GAMMA Investing LLC’s holdings in NMI were worth $2,033,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of NMIH. Entropy Technologies LP increased its position in shares of NMI by 38.7% during the fourth quarter. Entropy Technologies LP now owns 7,888 shares of the financial services provider’s stock valued at $290,000 after buying an additional 2,201 shares during the period. Principal Securities Inc. increased its position in shares of NMI by 66.5% during the fourth quarter. Principal Securities Inc. now owns 716 shares of the financial services provider’s stock valued at $26,000 after buying an additional 286 shares during the period. State of New Jersey Common Pension Fund D increased its position in shares of NMI by 11.9% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 55,563 shares of the financial services provider’s stock valued at $2,042,000 after buying an additional 5,912 shares during the period. Principal Financial Group Inc. increased its position in shares of NMI by 3.6% during the fourth quarter. Principal Financial Group Inc. now owns 452,264 shares of the financial services provider’s stock valued at $16,625,000 after buying an additional 15,868 shares during the period. Finally, New York State Common Retirement Fund increased its position in shares of NMI by 196.3% during the fourth quarter. New York State Common Retirement Fund now owns 75,013 shares of the financial services provider’s stock valued at $2,757,000 after buying an additional 49,700 shares during the period. 94.12% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on NMIH. UBS Group decreased their price target on NMI from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Compass Point reiterated a “buy” rating and set a $37.00 price target (up from $34.00) on shares of NMI in a research report on Friday, May 23rd. Keefe, Bruyette & Woods decreased their price target on NMI from $43.00 to $42.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 8th. Wall Street Zen upgraded NMI from a “hold” rating to a “buy” rating in a research report on Monday, May 5th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of NMI from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $42.29.

Insider Buying and Selling

In other news, insider William J. Leatherberry sold 13,111 shares of NMI stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $35.56, for a total transaction of $466,227.16. Following the transaction, the insider now directly owns 163,796 shares of the company’s stock, valued at $5,824,585.76. The trade was a 7.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Adam Pollitzer sold 57,166 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $36.54, for a total transaction of $2,088,845.64. Following the sale, the chief executive officer now directly owns 329,465 shares of the company’s stock, valued at approximately $12,038,651.10. This trade represents a 14.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 113,697 shares of company stock worth $4,210,337 in the last three months. Insiders own 3.00% of the company’s stock.

NMI Price Performance

Shares of NASDAQ NMIH opened at $40.34 on Friday. NMI Holdings, Inc. has a 1 year low of $31.67 and a 1 year high of $42.49. The company’s 50-day moving average is $36.77 and its 200 day moving average is $36.79. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.60 and a quick ratio of 0.83. The stock has a market capitalization of $3.15 billion, a P/E ratio of 9.11, a P/E/G ratio of 1.41 and a beta of 0.55.

NMI (NASDAQ:NMIH) last announced its earnings results on Tuesday, April 29th. The financial services provider reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.18. The business had revenue of $173.25 million during the quarter, compared to the consensus estimate of $169.04 million. NMI had a net margin of 55.32% and a return on equity of 17.33%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.08 earnings per share. On average, sell-side analysts expect that NMI Holdings, Inc. will post 4.62 earnings per share for the current year.

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.