Emerald Mutual Fund Advisers Trust raised its stake in NMI Holdings Inc (NASDAQ:NMIH) by 1.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 364,867 shares of the financial services provider’s stock after purchasing an additional 3,559 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in NMI were worth $8,264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. United Services Automobile Association boosted its stake in NMI by 6.4% in the second quarter. United Services Automobile Association now owns 51,633 shares of the financial services provider’s stock valued at $842,000 after acquiring an additional 3,093 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its stake in NMI by 136.6% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 67,729 shares of the financial services provider’s stock valued at $1,104,000 after acquiring an additional 39,100 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of NMI by 10.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 314,820 shares of the financial services provider’s stock worth $5,132,000 after buying an additional 30,196 shares during the period. Kessler Investment Group LLC acquired a new stake in shares of NMI during the second quarter worth about $133,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of NMI during the second quarter worth about $201,000. Institutional investors own 90.59% of the company’s stock.
Several brokerages have recently weighed in on NMIH. BidaskClub upgraded shares of NMI from a “buy” rating to a “strong-buy” rating in a research note on Thursday, September 13th. Zacks Investment Research downgraded shares of NMI from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 18th. Compass Point reiterated a “buy” rating and set a $24.00 target price on shares of NMI in a research note on Thursday, August 2nd. Susquehanna Bancshares increased their target price on shares of NMI from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, August 2nd. Finally, Keefe, Bruyette & Woods downgraded shares of NMI from an “outperform” rating to a “market perform” rating and set a $23.50 target price for the company. in a research note on Monday, August 6th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. NMI has an average rating of “Buy” and a consensus target price of $24.39.
In related news, CEO Bradley M. Shuster sold 83,184 shares of the stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $22.23, for a total transaction of $1,849,180.32. Following the completion of the transaction, the chief executive officer now directly owns 643,056 shares of the company’s stock, valued at $14,295,134.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven Scheid sold 65,000 shares of the stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $21.50, for a total transaction of $1,397,500.00. Following the transaction, the director now directly owns 72,691 shares of the company’s stock, valued at $1,562,856.50. The disclosure for this sale can be found here. Insiders have sold 416,720 shares of company stock valued at $9,038,661 over the last three months. 5.70% of the stock is currently owned by corporate insiders.
NASDAQ NMIH opened at $20.52 on Friday. The stock has a market cap of $1.26 billion, a P/E ratio of 36.00 and a beta of 1.11. NMI Holdings Inc has a 52-week low of $13.35 and a 52-week high of $24.50. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.27 and a quick ratio of 0.27.
NMI (NASDAQ:NMIH) last posted its quarterly earnings results on Tuesday, October 30th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.05. The firm had revenue of $71.76 million during the quarter. NMI had a net margin of 27.89% and a return on equity of 16.41%. As a group, sell-side analysts predict that NMI Holdings Inc will post 1.55 EPS for the current fiscal year.
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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