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

NMI Holdings, Inc. (NASDAQ:NMIH) was the target of a significant drop in short interest in the month of July. As of July 15th, there was short interest totalling 1,360,000 shares, a drop of 16.0% from the June 30th total of 1,620,000 shares. Based on an average trading volume of 508,700 shares, the short-interest ratio is currently 2.7 days. Approximately 1.7% of the shares of the company are sold short.

NMI Stock Down 0.5 %

Shares of NASDAQ NMIH traded down $0.19 during midday trading on Tuesday, reaching $39.20. 755,529 shares of the company’s stock traded hands, compared to its average volume of 535,033. The company has a market cap of $3.15 billion, a price-to-earnings ratio of 9.73, a P/E/G ratio of 0.98 and a beta of 1.09. NMI has a one year low of $25.62 and a one year high of $39.93. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.20. The stock’s 50 day simple moving average is $34.33 and its 200-day simple moving average is $32.06.

NMI (NASDAQ:NMIH) last released its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $1.08 EPS for the quarter, topping the consensus estimate of $0.96 by $0.12. NMI had a return on equity of 18.09% and a net margin of 56.26%. The firm had revenue of $156.25 million during the quarter, compared to analyst estimates of $133.76 million. During the same period in the previous year, the company posted $0.88 EPS. The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. On average, analysts predict that NMI will post 4.27 EPS for the current fiscal year.

Institutional Trading of NMI

Several hedge funds have recently modified their holdings of the company. Capital International Investors purchased a new position in NMI in the first quarter worth $32,270,000. Goldentree Asset Management LP purchased a new position in NMI during the 1st quarter worth $22,600,000. Norges Bank purchased a new position in NMI during the 4th quarter worth $20,006,000. F M Investments LLC acquired a new position in NMI during the 2nd quarter valued at about $12,447,000. Finally, Vanguard Group Inc. raised its stake in NMI by 5.3% in the first 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. 94.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NMIH shares. Barclays increased their target price on shares of NMI from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. JPMorgan Chase & Co. lifted their target price on shares of NMI from $36.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, July 8th. StockNews.com upgraded NMI from a “hold” rating to a “buy” rating in a research note on Friday. UBS Group cut NMI from a “buy” rating to a “neutral” rating and raised their price target for the company from $37.00 to $39.00 in a report on Wednesday, May 22nd. Finally, Keefe, Bruyette & Woods increased their target price on NMI from $33.00 to $36.00 and gave the stock a “market perform” rating in a research report on Thursday, April 4th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $36.44.

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.