Short Interest in NMI Holdings Inc (NASDAQ:NMIH) Decreases By 26.6%

NMI Holdings Inc (NASDAQ:NMIH) saw a large decrease in short interest in January. As of January 31st, there was short interest totalling 1,270,000 shares, a decrease of 26.6% from the January 15th total of 1,730,000 shares. Based on an average trading volume of 495,100 shares, the days-to-cover ratio is currently 2.6 days. Currently, 1.9% of the company’s stock are sold short.

NASDAQ:NMIH traded up $0.32 during mid-day trading on Friday, hitting $29.65. 1,545,615 shares of the company’s stock traded hands, compared to its average volume of 652,220. The firm has a 50 day moving average of $32.70 and a two-hundred day moving average of $30.33. NMI has a 12 month low of $23.00 and a 12 month high of $35.79. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 13.54 and a beta of 1.22. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.17.

NMI (NASDAQ:NMIH) last announced its earnings results on Tuesday, February 11th. The financial services provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.05. NMI had a return on equity of 20.63% and a net margin of 44.92%. The firm had revenue of $104.90 million during the quarter, compared to the consensus estimate of $104.11 million. As a group, equities research analysts expect that NMI will post 2.56 earnings per share for the current year.

Several research firms have recently issued reports on NMIH. B. Riley upped their price target on NMI from $36.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. ValuEngine upgraded NMI from a “strong sell” rating to a “sell” rating in a research note on Tuesday. BTIG Research upped their price target on NMI from $36.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday. BidaskClub upgraded NMI from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Susquehanna Bancshares restated a “neutral” rating and set a $36.00 target price (down previously from $37.00) on shares of NMI in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company’s stock. NMI has a consensus rating of “Buy” and an average price target of $35.83.

In other news, CFO Adam Pollitzer sold 50,104 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $33.13, for a total transaction of $1,659,945.52. Following the completion of the sale, the chief financial officer now owns 170,913 shares in the company, valued at approximately $5,662,347.69. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP William J. Leatherberry sold 7,674 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $33.49, for a total value of $257,002.26. The disclosure for this sale can be found here. In the last quarter, insiders have sold 225,371 shares of company stock valued at $7,381,063. 4.20% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in NMIH. Bank of America Corp DE lifted its holdings in shares of NMI by 240.8% during the second quarter. Bank of America Corp DE now owns 139,255 shares of the financial services provider’s stock worth $3,953,000 after purchasing an additional 98,389 shares during the period. Ladenburg Thalmann Financial Services Inc. acquired a new stake in shares of NMI during the second quarter worth $34,000. Royal Bank of Canada lifted its holdings in shares of NMI by 128.1% during the second quarter. Royal Bank of Canada now owns 36,119 shares of the financial services provider’s stock worth $1,025,000 after purchasing an additional 20,284 shares during the period. BlackRock Inc. lifted its holdings in shares of NMI by 1.5% during the second quarter. BlackRock Inc. now owns 9,752,543 shares of the financial services provider’s stock worth $276,876,000 after purchasing an additional 143,075 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in shares of NMI during the third quarter worth $226,000. Hedge funds and other institutional investors own 90.33% of the company’s stock.

NMI Company Profile

NMI Holdings, Inc, through its subsidiaries, provides private mortgage guaranty insurance services in the United States. The company offers mortgage insurance; reinsurance on loans; 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.

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