NMI Holdings Inc $NMIH Shares Sold by Denali Advisors LLC

Denali Advisors LLC cut its holdings in NMI Holdings Inc (NASDAQ:NMIH) by 8.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 171,994 shares of the financial services provider’s stock after selling 16,795 shares during the period. NMI accounts for about 0.8% of Denali Advisors LLC’s holdings, making the stock its 27th biggest position. Denali Advisors LLC’s holdings in NMI were worth $7,256,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in NMIH. Nuveen LLC acquired a new stake in shares of NMI during the 1st quarter worth $44,886,000. Millennium Management LLC boosted its position in NMI by 209.9% in the 1st quarter. Millennium Management LLC now owns 1,432,950 shares of the financial services provider’s stock valued at $51,658,000 after buying an additional 970,551 shares during the last quarter. Public Sector Pension Investment Board boosted its position in NMI by 176.2% in the 1st quarter. Public Sector Pension Investment Board now owns 544,723 shares of the financial services provider’s stock valued at $19,637,000 after buying an additional 347,524 shares during the last quarter. Aberdeen Group plc boosted its position in NMI by 134.2% in the 1st quarter. Aberdeen Group plc now owns 517,515 shares of the financial services provider’s stock valued at $18,656,000 after buying an additional 296,557 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its position in NMI by 76.4% in the 2nd quarter. Allianz Asset Management GmbH now owns 640,158 shares of the financial services provider’s stock valued at $27,008,000 after buying an additional 277,318 shares during the last quarter. 94.12% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NMI

In other NMI news, Director Steven Scheid sold 19,926 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $39.31, for a total value of $783,291.06. Following the sale, the director owned 78,960 shares in the company, valued at approximately $3,103,917.60. This trade represents a 20.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.00% of the company’s stock.

NMI Price Performance

NMIH opened at $36.57 on Wednesday. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 7.76, a price-to-earnings-growth ratio of 1.04 and a beta of 0.56. NMI Holdings Inc has a fifty-two week low of $31.90 and a fifty-two week high of $43.20. The company’s 50-day moving average price is $38.42 and its 200 day moving average price is $38.16. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.17.

NMI (NASDAQ:NMIH) last released its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.06. NMI had a net margin of 55.57% and a return on equity of 16.51%. The firm had revenue of $149.07 million for the quarter, compared to analyst estimates of $173.39 million. During the same quarter in the prior year, the business earned $1.20 earnings per share. NMI’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, sell-side analysts expect that NMI Holdings Inc will post 4.62 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on NMIH. Weiss Ratings reaffirmed a “buy (b)” rating on shares of NMI in a research report on Wednesday, October 8th. Wall Street Zen cut shares of NMI from a “buy” rating to a “hold” rating in a research report on Saturday, July 12th. Barclays reaffirmed a “cautious” rating on shares of NMI in a research report on Monday, October 6th. JPMorgan Chase & Co. reduced their price target on shares of NMI from $44.00 to $43.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 7th. Finally, Keefe, Bruyette & Woods cut shares of NMI from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $42.00 to $43.00 in a research report on Monday, July 7th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, NMI currently has an average rating of “Moderate Buy” and a consensus price target of $42.33.

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.