Short Interest in NMI Holdings, Inc. (NASDAQ:NMIH) Declines By 13.9%

NMI Holdings, Inc. (NASDAQ:NMIH) was the target of a large decrease in short interest during the month of June. As of June 15th, there was short interest totalling 1,420,000 shares, a decrease of 13.9% from the May 31st total of 1,650,000 shares. Currently, 1.8% of the company’s shares are short sold. Based on an average daily volume of 532,100 shares, the short-interest ratio is currently 2.7 days.

NMI Price Performance

Shares of NMIH traded up $0.23 during mid-day trading on Tuesday, hitting $34.25. The company’s stock had a trading volume of 743,689 shares, compared to its average volume of 536,213. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.20. The firm has a 50-day simple moving average of $32.78 and a 200 day simple moving average of $31.09. The firm has a market capitalization of $2.75 billion, a P/E ratio of 8.42, a P/E/G ratio of 1.16 and a beta of 1.09. NMI has a 1-year low of $24.83 and a 1-year high of $34.58.

NMI (NASDAQ:NMIH) last posted its quarterly earnings results on Tuesday, April 30th. The financial services provider reported $1.08 EPS for the quarter, beating the consensus estimate of $0.96 by $0.12. The business had revenue of $156.25 million during the quarter, compared to analysts’ expectations of $133.76 million. NMI had a return on equity of 18.09% and a net margin of 56.26%. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same period last year, the firm earned $0.88 EPS. Analysts predict that NMI will post 4.24 EPS for the current fiscal year.

Hedge Funds Weigh In On NMI

Hedge funds and other institutional investors have recently bought and sold shares of the company. Daiwa Securities Group Inc. acquired a new position in NMI during the fourth quarter worth $27,000. Fidelis Capital Partners LLC purchased a new position in NMI during the first quarter worth $31,000. TFO Wealth Partners LLC increased its position in NMI by 24,500.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,230 shares of the financial services provider’s stock worth $37,000 after buying an additional 1,225 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in NMI during the fourth quarter worth $145,000. Finally, Quadrant Capital Group LLC increased its position in NMI by 6.1% during the fourth quarter. Quadrant Capital Group LLC now owns 6,071 shares of the financial services provider’s stock worth $180,000 after buying an additional 350 shares in the last quarter. 94.12% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on NMIH shares. Truist Financial increased their target price on NMI from $36.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Keefe, Bruyette & Woods increased their price target on NMI from $33.00 to $36.00 and gave the company a “market perform” rating in a research report on Thursday, April 4th. Compass Point increased their price target on NMI from $33.00 to $36.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. JPMorgan Chase & Co. increased their price objective on NMI from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Finally, StockNews.com upgraded NMI from a “hold” rating to a “buy” rating in a research note on Wednesday, June 19th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.56.

About NMI

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.