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

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

Analyst Ratings Changes

Several brokerages have issued reports on NMIH. StockNews.com raised shares of NMI from a “hold” rating to a “buy” rating in a report on Wednesday, June 19th. UBS Group cut shares of NMI from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $37.00 to $39.00 in a report on Wednesday, May 22nd. Truist Financial boosted their price objective on shares of NMI from $36.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. boosted their price objective on shares of NMI from $35.00 to $36.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Finally, Compass Point boosted their price objective on shares of NMI from $33.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, May 7th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, NMI currently has a consensus rating of “Moderate Buy” and an average price target of $35.56.

Hedge Funds Weigh In On NMI

A number of hedge funds have recently modified their holdings of NMIH. Daiwa Securities Group Inc. bought a new position in shares of NMI during the fourth quarter worth $27,000. Fidelis Capital Partners LLC purchased a new stake in NMI during the first quarter valued at $31,000. TFO Wealth Partners LLC raised its stake 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 valued at $37,000 after purchasing an additional 1,225 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new stake in NMI during the fourth quarter valued at $145,000. Finally, Quadrant Capital Group LLC raised its stake 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 valued at $180,000 after purchasing an additional 350 shares in the last quarter. 94.12% of the stock is currently owned by institutional investors.

NMI Stock Performance

Shares of NASDAQ NMIH opened at $34.04 on Friday. The firm has a 50 day moving average of $32.71 and a 200 day moving average of $31.04. 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 market capitalization of $2.73 billion, a price-to-earnings ratio of 8.43, a price-to-earnings-growth ratio of 1.14 and a beta of 1.08. NMI has a 12-month low of $24.83 and a 12-month high of $34.33.

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

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.