Lombard Odier Asset Management USA Corp Decreases Stock Holdings in NMI Holdings, Inc. (NASDAQ:NMIH)

Lombard Odier Asset Management USA Corp decreased its position in NMI Holdings, Inc. (NASDAQ:NMIH) by 21.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,577 shares of the financial services provider’s stock after selling 12,000 shares during the quarter. Lombard Odier Asset Management USA Corp owned approximately 0.05% of NMI worth $1,483,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of NMI by 5.3% in the first quarter. Vanguard Group Inc. now owns 7,168,138 shares of the financial services provider’s stock valued at $231,818,000 after acquiring an additional 358,930 shares during the period. Van Berkom & Associates Inc. increased its position in shares of NMI by 2.1% during the second quarter. Van Berkom & Associates Inc. now owns 2,451,743 shares of the financial services provider’s stock valued at $83,457,000 after buying an additional 51,194 shares during the period. American Century Companies Inc. increased its position in shares of NMI by 18.4% during the second quarter. American Century Companies Inc. now owns 1,617,601 shares of the financial services provider’s stock valued at $55,063,000 after buying an additional 251,664 shares during the period. Assenagon Asset Management S.A. increased its position in shares of NMI by 23.0% during the second quarter. Assenagon Asset Management S.A. now owns 1,407,610 shares of the financial services provider’s stock valued at $47,915,000 after buying an additional 263,250 shares during the period. Finally, Capital International Investors purchased a new position in shares of NMI during the first quarter valued at about $32,270,000. Hedge funds and other institutional investors own 94.12% of the company’s stock.

NMI Trading Down 1.6 %

Shares of NASDAQ NMIH opened at $40.84 on Monday. The firm’s 50 day moving average price is $39.05 and its 200-day moving average price is $34.58. The company has a market cap of $3.28 billion, a PE ratio of 10.11, a P/E/G ratio of 0.89 and a beta of 1.12. NMI Holdings, Inc. has a 52-week low of $25.62 and a 52-week high of $42.49. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.67 and a current ratio of 0.67.

NMI (NASDAQ:NMIH) last issued its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.15. The company had revenue of $162.12 million for the quarter, compared to the consensus estimate of $138.49 million. NMI had a net margin of 56.40% and a return on equity of 18.29%. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.95 earnings per share. On average, equities research analysts expect that NMI Holdings, Inc. will post 4.5 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Truist Financial boosted their price target on shares of NMI from $37.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price target on shares of NMI from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods boosted their price target on shares of NMI from $37.00 to $40.00 and gave the company a “market perform” rating in a research report on Thursday, August 1st. Royal Bank of Canada upgraded shares of NMI from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $40.00 to $48.00 in a research report on Wednesday, September 18th. Finally, StockNews.com lowered shares of NMI from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $41.00.

Insider Activity at NMI

In related news, Director Michael J. Embler sold 26,008 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $39.35, for a total transaction of $1,023,414.80. Following the transaction, the director now owns 61,607 shares in the company, valued at $2,424,235.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other NMI news, insider William J. Leatherberry sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $40.07, for a total transaction of $120,210.00. Following the completion of the sale, the insider now directly owns 153,689 shares of the company’s stock, valued at $6,158,318.23. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael J. Embler sold 26,008 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $39.35, for a total transaction of $1,023,414.80. Following the sale, the director now directly owns 61,607 shares of the company’s stock, valued at $2,424,235.45. The disclosure for this sale can be found here. 2.70% of the stock is owned by insiders.

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.