Summit Global Investments Has $1.57 Million Stock Holdings in NMI Holdings, Inc. (NASDAQ:NMIH)

Summit Global Investments cut its position in NMI Holdings, Inc. (NASDAQ:NMIH) by 16.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 38,187 shares of the financial services provider’s stock after selling 7,395 shares during the quarter. Summit Global Investments’ holdings in NMI were worth $1,573,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in NMI by 57.2% during the 3rd quarter. GAMMA Investing LLC now owns 728 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 265 shares during the last quarter. Opal Wealth Advisors LLC acquired a new position in NMI during the 2nd quarter valued at about $29,000. Quarry LP boosted its stake in NMI by 135.1% during the 2nd quarter. Quarry LP now owns 858 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 493 shares during the last quarter. USA Financial Formulas acquired a new position in NMI during the 3rd quarter valued at about $57,000. Finally, Picton Mahoney Asset Management acquired a new position in NMI during the 2nd quarter valued at about $63,000. 94.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider William J. Leatherberry sold 3,000 shares of NMI stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $40.07, for a total value of $120,210.00. Following the sale, the insider now owns 153,689 shares of the company’s stock, valued at approximately $6,158,318.23. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NMIH shares. StockNews.com downgraded NMI from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. JPMorgan Chase & Co. lifted their price target on NMI from $42.00 to $46.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Barclays lifted their target price on shares of NMI from $43.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Truist Financial lifted their target price on shares of NMI from $37.00 to $47.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods lifted their target price on shares of NMI from $37.00 to $40.00 and gave the stock a “market perform” rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $43.29.

NMI Price Performance

NMI stock opened at $37.10 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 0.20. The stock has a market cap of $2.96 billion, a P/E ratio of 8.49, a P/E/G ratio of 0.89 and a beta of 1.13. The company’s 50 day moving average price is $40.20 and its two-hundred day moving average price is $36.80. NMI Holdings, Inc. has a 52 week low of $27.00 and a 52 week high of $42.49.

NMI (NASDAQ:NMIH) last posted its quarterly earnings results on Wednesday, November 6th. The financial services provider reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.05. The company had revenue of $166.09 million for the quarter, compared to analysts’ expectations of $164.59 million. NMI had a net margin of 56.20% and a return on equity of 18.30%. On average, equities analysts predict that NMI Holdings, Inc. will post 4.5 earnings per share for the current year.

NMI 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.