Short Interest in NMI Holdings, Inc. (NASDAQ:NMIH) Declines By 13.9%

NMI Holdings, Inc. (NASDAQ:NMIH) was the target of a significant decline in short interest in the month of June. As of June 15th, there was short interest totalling 1,420,000 shares, a decline of 13.9% from the May 31st total of 1,650,000 shares. Based on an average trading volume of 532,100 shares, the short-interest ratio is currently 2.7 days. Currently, 1.8% of the shares of the company are sold short.

NMI Trading Up 0.7 %

Shares of NMIH traded up $0.23 during mid-day trading on Tuesday, reaching $34.25. The company’s stock had a trading volume of 743,689 shares, compared to its average volume of 536,213. The stock has a market cap of $2.75 billion, a PE ratio of 8.42, a P/E/G ratio of 1.16 and a beta of 1.09. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. NMI has a 52 week low of $24.83 and a 52 week high of $34.58. The company’s fifty day moving average price is $32.78 and its two-hundred day moving average price is $31.09.

NMI (NASDAQ:NMIH) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.12. NMI had a net margin of 56.26% and a return on equity of 18.09%. The company had revenue of $156.25 million during the quarter, compared to analyst estimates of $133.76 million. During the same period in the prior year, the business posted $0.88 EPS. The firm’s revenue was up 14.2% compared to the same quarter last year. On average, analysts predict that NMI will post 4.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on the stock. StockNews.com raised shares of NMI from a “hold” rating to a “buy” rating in a research report on Wednesday, June 19th. UBS Group downgraded shares of NMI from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $37.00 to $39.00 in a research note on Wednesday, May 22nd. Compass Point lifted their target price on shares of NMI from $33.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Truist Financial lifted their target price on shares of NMI from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of NMI from $33.00 to $36.00 and gave the company a “market perform” rating in a research note on Thursday, April 4th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, NMI currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.56.

Institutional Investors Weigh In On NMI

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in NMI by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 7,168,138 shares of the financial services provider’s stock valued at $231,818,000 after buying an additional 358,930 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in NMI by 33.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,144,360 shares of the financial services provider’s stock worth $37,009,000 after purchasing an additional 284,405 shares in the last quarter. Capital International Investors bought a new position in NMI in the 1st quarter worth $32,270,000. American Century Companies Inc. raised its holdings in NMI by 11.6% in the 3rd quarter. American Century Companies Inc. now owns 988,812 shares of the financial services provider’s stock worth $26,787,000 after purchasing an additional 102,857 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in NMI by 9.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 980,783 shares of the financial services provider’s stock worth $29,110,000 after purchasing an additional 81,727 shares in the last quarter. 94.12% of the stock is currently owned by institutional investors.

NMI Company Profile

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.